Thoma Bravo Completes Acquisition of ABC Financial
SAN FRANCISCO, Calif and LITTLE ROCK, Ark., January 2, 2018 — Thoma Bravo, a leading private equity investment firm, today announced that it has completed its acquisition of ABC Financial Services, Inc. (“ABC Financial”), a software and payment processing company servicing more than 6,700 health clubs throughout North America. Financial details of the transaction were not disclosed.
Thoma Bravo’s investment enables ABC Financial to grow the services it offers to customers by scaling the company’s operations and further developing its industry-leading suite of innovative software products. Leveraging its operational and technological expertise, Thoma Bravo will work alongside ABC Financial’s management team to expand the company’s global footprint and ability to deliver additional cutting-edge products to the rapidly growing health and wellness industry.
ABC Financial is the nation’s leading software and billing provider for the health and wellness industry. Its comprehensive software services include payment processing solutions and advanced health club management tools, such as DataTrak, that allow gym owners and managers to track and manage memberships, member and employee schedules, drive member engagement, and automate payment processing functions.
“As we focus on building our global presence and expanding deeper into the growing health and wellness markets, Thoma Bravo is the perfect strategic partner to help us enter the next stage as a company,” said Paul Schaller, President and Chief Executive Officer of ABC Financial. “Their track-record of working successfully to strengthen and build software-driven companies gives us the expertise and experience we need to serve our expanding customer base across the world.”
“We admire what the ABC Financial team has already achieved, and are looking forward to working with Paul and the company’s executive management to move the company into its next phase of growth,” said Scott Crabill, Managing Partner at Thoma Bravo. “Already a leader within its market, we’re confident that our partnership will help extend and expand this already exceptional business.”
Jefferies LLC and Macquarie Capital are serving as exclusive financial advisors to Thoma Bravo, and Kirkland & Ellis LLP is serving as its legal advisor. Stephens Inc. is the exclusive financial advisor to ABC Financial and its legal advisor is Rose Law Firm. Financing for the transaction is being provided by Jefferies Finance LLC, Macquarie Capital and Antares Capital LP.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago. For more information, visit www.thomabravo.com.
About ABC Financial
Launched in 1981, ABC Financial has revolutionized software and payment processing for the health and fitness industry. Headquartered in the Little Rock, Ark. area, ABC Financial serves approximately 6,700 clubs throughout the United States, Canada, Puerto Rico, and Europe. The company’s innovative club management software, DataTrak, is the most complete web-based software in the health and fitness industry. For more information, visit www.abcfinancial.com.
For Thoma Bravo: Matthew Gorton, Hiltzik Strategies
For ABC Financial: Steve Ayers, ABC Financial