Perforce Announces Strategic Investment from Francisco Partners

Perforce Software Profile

  • Perforce is a global provider of enterprise-grade development operations (DevOps) software solutions
  • Perforce provides a broad suite of solutions that balance the security, compliance and control needs of leading enterprises while providing developers and designers the freedom to innovate at global scale
  • With its extensive portfolio, Perforce helps global enterprises solve complex problems across the entire software development lifecycle and is trusted by the world’s most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft and VMware
  • The company is headquartered in Minneapolis

Clearlake Capital Profile

  • Clearlake is a leading private investment firm founded in 2006
  • 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, O.P.S.
  • The firm's core target sectors are software and technology-enabled services, industrials and energy and consumer
  • Clearlake has managed over $8 billion of institutional capital since inception and its senior investment principals have led or co-led over 100 investments
  • Clearlake is headquartered in Santa Monica, CA

Francisco Partners Profile

  • Francisco Partners is an investment firm that specializes in technology and technology-enabled services businesses
  • Since its launch over 19 years ago, FP has raised over $14 billion in committed capital and invested in more than 200 technology companies, making it one of the most active and longstanding investors in the technology industry
  • The firm invests in opportunities where its deep sector knowledge and operational expertise can help companies realize their full potential
  • FP is headquartered in San Francisco

Transaction Notes

  • The investment in Perforce by Francisco Partners was announced on April 30, 2019; financial terms were not disclosed
  • "We are excited to welcome Francisco Partners, a firm with deep infrastructure software experience, as we continue to expand our global footprint and deliver pioneering products efficiently and effectively.  With these leading investment firms' support, we will reach a new level of scale and accelerate our acquisition strategy, while remaining hyper-focused on our customers." – Mark Ties (CEO, Perforce)
  • "We are very impressed by the leadership position that Perforce has established in the DevOps market and are excited to partner with management and Clearlake to drive the next phase of expansion." – Brian Decker (Partner, Francisco Partners)
  • "This partnership with Francisco Partners further supports our original investment thesis and sponsorship of Mark and the collective management team's best-in-class playbook to sustainably drive organic growth combined with an aggressive M&A strategy in the DevOps market." – Prashant Mehrotra (Partner, Clearlake)
  • Shea & Company served as financial advisor to Perforce and Clearlake Capital
   
Financial terms not disclosed
has received an investment from
Shea & Company served as the financial advisor to Perforce and Clearlake