Thoma Bravo's $34.4 billion fundraising sets new private-equity record amidst industry slowdown.

Thoma Bravo has raised a total of $34.4 billion across three funds, a significant haul in a year where the private equity industry has slowed down. This achievement highlights the divide between successful and less successful firms in the sector.

Private equity firm Thoma Bravo is reportedly considering the sale of Apryse, a document processing software provider, with a potential valuation exceeding $3 billion. This move comes amidst a broader industry slowdown, as highlighted by Thoma Bravo's recent fundraising success [1].

Apryse, formerly known as PDFTron, specializes in document processing technology for mobile and computer applications. The company's clients include prominent names such as Novartis, Wells Fargo, and DocuSign. Since its acquisition by Thoma Bravo in 2021, Apryse has expanded its functionality and global presence through nine add-on acquisitions, including the recent purchase of TallComponents and AI-powered software firm Lead Technologies. The company generates over $100 million in EBITDA annually and has been growing at a rate of more than 20% [2].

The potential sale of Apryse is being facilitated by investment bank Lazard, with interest from other private equity firms. Thoma Bravo may retain a minority stake in the company post-sale. The valuation of Apryse is expected to be at a multiple of 30 times its EBITDA or higher [2].

Thoma Bravo's consideration of selling Apryse follows its recent fundraising efforts. The firm has raised a total of $34.4 billion across three funds, a significant achievement in a year marked by a slowdown in the private equity industry. This success underscores the divide between successful and less successful firms in the sector [1].

References:
[1] https://finance.yahoo.com/news/thoma-bravo-considers-sale-apryse-143946175.html
[2] https://pe-insights.com/thoma-bravo-explores-3bn-sale-of-document-software-firm-apryse/