Thoma Bravo Completes Acquisition of Quorum Software
SAN FRANCISCO and HOUSTON, Sept. 24, 2018 — Thoma Bravo, LLC, a leading private equity investment firm, today announced that it has completed the acquisition of Quorum Software (“Quorum” or “the Company”), the leader in digital transformation for the oil and gas industry. Financial details were not disclosed.
Quorum’s purpose-built software provides integrated solutions for its customers’ core processing demands across the upstream, midstream and downstream segments of the oil and gas value chain. Quorum’s portfolio of innovative software solutions addresses a broad spectrum of energy companies’ needs, from operations to accounting, plant management and financial forecasting. Quorum is the preferred software provider to over 75% of the largest oil and gas producers in the United States.
“Thoma Bravo has the resources, insight and ability to strengthen Quorum’s position as the leading provider of software solutions to the ever-evolving, dynamic energy sector,” said Perry Turbes, Chief Executive Officer of Quorum. “This partnership will enhance the already impressive track record of services and support we provide our customers in the oil and gas industry.”
“Quorum’s history of innovation and its solutions-oriented, customer-focused approach has made it the vanguard of the energy sector’s digital transformation,” said Scott Crabill, a managing partner at Thoma Bravo. “We’re looking forward to a strong and productive partnership with Perry and the entire Quorum team to strengthen the Company’s market position and support its pro-customer approach of transforming the modern oil and gas industry.”
Credit Suisse served as financial advisor to Quorum, and Hogan Lovells served as its legal advisor. Macquarie Capital was Thoma Bravo’s financial advisor, and Kirkland & Ellis LLP was its legal advisor. Financing was provided by Credit Suisse and Macquarie Capital.