Francisco Partners to Acquire Quorum Software from Thoma Bravo

SAN FRANCISCO & NEW YORK & LONDON & HOUSTON & MIAMI--(BUSINESS WIRE)--Francisco Partners today announced that it has agreed to acquire Quorum Software (“Quorum” or the “Company”), a leading provider of energy software worldwide, from Thoma Bravo.

For over 20 years, Quorum has been a leading software provider for digital transformation in the energy industry, powering growth and profitability for energy operators by connecting people, workflows, and systems with decision-ready data. The Company serves as a trusted partner to energy customers who rely on its expertise and applications to successfully navigate the energy transition and deliver value across upstream, midstream, and downstream sectors. Quorum today serves over 1,500 customers, ranging from emerging operators to global supermajors and NOCs, across 50 energy producing countries. This transaction will position Quorum to capitalize on the momentum in global energy markets and increased demand for its platform.

"We are thrilled to join forces with Francisco Partners at this time of great opportunity for our platform, our customers, and our sector,” said Paul Langenbahn, CEO of Quorum. “We have undergone a dramatic transformation in recent years and, with Thoma Bravo’s support, successfully navigated a changing global market with a laser focus on delivering for our valued customers while driving long-term profitable growth. We look forward to working alongside Francisco Partners to further strengthen our platform and to continue providing our customers with world-class software and services for years to come.”

"Quorum plays a critical role in the global energy industry, serving as a trusted strategic partner to over a thousand customers across the world,” said Mac Fountain, Principal and Petri Oksanen, Partner at Francisco Partners. “We are excited to welcome them to our portfolio, and we are eager to support their continued growth and success with our technology expertise and resources. Together, we intend to build on Quorum’s strong foundation and grow their platform and customer base through both organic investment and strategic acquisitions.”

Quorum grew exponentially under Thoma Bravo’s ownership, completing several strategic deals, including a merger with Aucerna and a carve-out of Energy Components, to cement its position as the largest global energy software provider with the broadest portfolio of solutions across the energy value chain.

“It has been a pleasure working with the Quorum team to build an industry-leading platform,” said Scott Crabill, a Managing Partner at Thoma Bravo. “Together, we executed several truly transformative operating and strategic initiatives to advance their vision and achieve their potential, and we have been extremely impressed by their team’s tenacity and ambition. We look forward to following Quorum’s continued success during its next stage of growth.”

Lincoln International and Jefferies LLC are serving as financial advisors to Francisco Partners. Citi is serving as exclusive financial advisor to Quorum and Thoma Bravo.

About Quorum Software

Quorum Software is a leading provider of energy software worldwide, serving more than 1,500 customers across the entire energy value chain in 50 countries. Quorum’s solutions power growth and profitability for energy businesses by connecting people, workflows, and systems with decision-ready data. Twenty-five years ago, we delivered the industry’s first software for gas plant accountants, and today our solutions streamline business operations with industry forward data standards and integrations. The global energy industry trusts Quorum’s experts and applications to successfully navigate the energy transition while delivering value today and into the future. For more information, visit quorumsoftware.com.

About Francisco Partners

Francisco Partners is a leading global investment firm that specializes in partnering with technology and technology-enabled businesses. Since its launch over 25 years ago, Francisco Partners has invested in more than 450 technology companies, making it one of the most active and longstanding investors in the technology industry. With more than $50 billion in capital raised, the firm invests in opportunities where its deep sectoral knowledge and operational expertise can help companies realize their full potential. For more information on Francisco Partners, please visit www.franciscopartners.com.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with over US$166 billion in assets under management as of September 30, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in more than 500 companies representing approximately US$265 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, Dallas, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.