Perforce Has Been Acquired by Clearlake Capital

Perforce Profile

  • Perforce is a provider of the industry’s most flexible, scalable and secure version control and collaboration platform serving DevOps teams across all phases of the software development lifecycle
  • Perforce is trusted by the world's most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft and VMware – over 3,000 companies across the globe rely on its agile project management, developer collaboration, version control and repository management solutions as the foundation for DevOps at enterprise scale
  • Perforce was founded in 1995 and is headquartered in Minneapolis with over 225 employees
  • Perforce was a portfolio company of Summit Partners, a leading venture capital and growth equity firm focused on technology, healthcare and growth products and services

Clearlake Capital Profile

  • Clearlake Capital is a leading private investment firm founded in 2006 and located in Santa Monica
  • With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach – the firm’s core target sectors are software and technology-enabled services, industrials and energy and consumer
  • Clearlake has managed approximately $6 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments

Transaction Notes

  • Clearlake’s acquisition of Perforce was announced on January 10, 2018; financial terms were not disclosed
  • We are impressed by the momentum at Perforce under Janet and Mark’s leadership, and we share their excitement that Perforce will serve as an excellent platform for growth, both organically and through acquisition.” – Behdad Eghbali (Co-Founder & Managing Partner, Clearlake Capital)
  • Today’s announcement represents another major milestone in our transformation of Perforce.  Two years ago, we began this journey, and since then we have completed three acquisitions, returned the company to growth, and created a robust portfolio of DevOps-focused solutions adopted by the largest and most demanding enterprise development teams in the world.” – Janet Dryer (CEO, Perforce)
  • Shea & Company acted as the exclusive financial advisor to Perforce and Summit Partners on the transaction, and previously advised Perforce on the company's sale to Summit
 
Financial terms not disclosed
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Shea & Company served as the exclusive financial advisor to Perforce and Summit Partners