Thoma Bravo is highly focused on application, infrastructure and security software and technology-enabled services businesses. We seek to invest in established companies that have or can quickly reach annual earnings (EBITDA) greater than $50 million and are led by a strong management team with a record of accomplishment. We particularly value businesses with high gross margins, substantial recurring revenues and high renewal rates and whose products and services fulfill an essential need of their customers and provide an attractive return on the customer’s investment. Our principal focus is on companies headquartered in the United States, but we can invest elsewhere as well.
Our investments typically are in the form of take-private transactions, leveraged buy-outs and growth equity investments. Thoma Bravo’s Discover middle market funds seek to invest between about $50-$300 million or more in each opportunity, while our flagship funds seek larger opportunities ranging from $400 million to over $1 billion in investment size. We also have access to substantial co-investment funds when needed to complete transactions of almost any size.