Thoma Bravo, a leading technology-focused private equity firm, announced that it has entered into a definitive agreement to sell Frontline Education, a leading provider of educational software, to Roper Technologies in an all-cash transaction valued at approximately $3.725 billion.
The transaction is expected to close in the fourth quarter, subject to regulatory approvals and customary closing conditions, according to a press release issued by the company.
Frontline Education is a leading provider of school administration software, offering solutions for human capital management, student and special programs, and business operations with powerful analytics to increase productivity and improve overall performance for K-12 administrators. Frontline partners with school systems to deliver tools, data and insights that support greater efficiency and productivity, enabling school leaders to spend more time and resources implementing strategies that drive teacher effectiveness, student success and district excellence.
Frontline’s broad portfolio includes solutions for proactive recruiting and hiring, absence and time management, professional growth, student information systems, special education, special programs, Medicaid reimbursement, school health management, inventory control and asset management, payroll, benefits and financial management , and analytics solutions that help district leaders access their data to make more informed decisions for the benefit of their students and communities.
Commenting on the development, Holden Spaht, CEO of Thoma Bravo, said in a statement,
“There is a great sense of pride and accomplishment as we reflect on our partnership with Frontline. Over the past five years, we have worked closely with the management team to significantly grow the company’s ARR and build a market-leading integrated software and analytics platform developed specifically for the unique challenges they face K-12 administrators and educators. Not only are we very proud of Frontline’s financial success, but also its positive impact on the K-12 education system, and we look forward to watching the company continue to grow and advance its important mission under Roper’s ownership.”
Thoma Bravo acquired Frontline in 2017, and during the five-year partnership, the company leveraged its specialized operating model and deep sector expertise to enable Frontline to drive profitable growth and extend its market leadership in the K-12 education sector.
Mark Gruzin, CEO of Frontline Education, said,
“We deeply appreciate the Thome Bravo partnership over the past five years and the countless contributions of our dedicated team members, who have enabled us to deliver an expanded portfolio of mission-critical solutions for our clients. Roper’s acquisition of Frontline Education represents the next phase of our journey, as we remain true to our culture and mission of partnering with K-12 schools in their pursuit of excellence.”
Welcoming Frontline to the Roper family, Neil Hunn, President and CEO of Roper Technologies, said,
“Frontline is a great business with clear niche leadership, a proven track record of strong organic and inorganic growth, excellent cash conversion and an outstanding management team that will thrive as part of Roper. The acquisition of Frontline demonstrates Roper’s disciplined capital deployment strategy that focuses on identifying high-quality technology companies which are market leaders that will improve Roper’s cash flow. We are excited to welcome Frontline to the Roper family.”
Roper Technologies is a component of the S&P 500 and Fortune 500. The company operates market-leading companies that design and develop vertical software and technology products for a variety of defensible market niches. It uses a disciplined, analytical and process-driven approach to redeploy its excess free cash flow towards high-quality acquisitions.
JP Morgan Securities LLC, Jefferies LLC and Macquarie Capital served as financial advisors and Kirkland & Ellis LLP as legal advisor to Thoma Bravo and Frontline Education.
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