Thoma Bravo to Acquire Majority Stake in USU Product Business

- Thoma Bravo and USU Software AG invest to accelerate growth and product innovation to support leading pan-European provider for IT management solutions
- Benjamin Strehl to lead USU's Product Business at USU GmbH as CEO together with existing management
- Transaction marks Thoma Bravo's second investment in Germany within one year, reaffirming the firm's commitment to the German enterprise software market

MÖGLINGEN, Germany and LONDON, Oct. 1, 2024 /PRNewswire/ -- Thoma Bravo, a leading software investment firm, today announced the acquisition of a majority stake in USU Product Business ("USU Product"). Combining Thoma Bravo's extensive experience and global software investment expertise with USU's product portfolio is expected to accelerate the company's growth trajectory and enhance its ability to deliver innovative solutions to customers. USU Product will continue to operate under the leadership of its existing management team. Benjamin Strehl, currently Co-CEO of USU Software AG, will become CEO of USU Product and Bernhard Oberschmidt will join the board of directors.

USU Product provides customers around the world with IT management solutions that enable mastery of disparate IT landscapes and workflows. The company has served as a strategic partner to clients by enabling them to lower cost, increase productivity, and manage growing technological complexity. Thoma Bravo's extensive network and industry experience will support USU in the development of its product portfolio and the expansion of its geographical footprint, with the goal of making USU Product a leading pan-European provider of IT management solutions.

"With its expertise in software, collaborative culture and passion for investing in companies that deliver transformative technologies, Thoma Bravo is the right partner to enhance our market offering and support our growth ambitions. Together, we can create more value for our customers by enhancing our USU platform and solution offering and expanding our partnership program," said Bernhard Oberschmidt, CEO of USU Software AG.

"We are thrilled to invest in USU and intend to help build on USU's storied legacy, unwavering commitment to customers, and product-centricity while helping the team scale further," said David Tse, a Senior Vice President at Thoma Bravo. "We look forward to working with Bernhard and Benjamin, and their team to further grow their business through innovation and M&A."

"Our investment in USU marks the second transaction in the DACH region within one year. We see Germany as a significant growth market with strong technology and are excited to support this ecosystem with another investment," said Irina Hemmers, a Partner at Thoma Bravo. "Thoma Bravo's investment in USU Product aligns with our broader strategy of working with market-leading software companies to drive transformative growth."

Thoma Bravo will invest in USU Product alongside USU Software AG to accelerate the business's growth. USU founder Udo Strehl and the Strehl family remain committed to the product business and will contribute to its future growth path. Going forward, the product business, comprising its leading IT Service Management, IT Asset Management, IT Operations Management and Knowledge Management products, will be an independent entity.

The transaction is part of Thoma Bravo's strategic expansion into the German market and its commitment to investing in the growth of innovative software companies across Europe. The deal is expected to close by the end of the year, pending regulatory approval.

Guggenheim is the exclusive investment bank advising USU on the transaction, Heuking is serving as legal advisor to USU and RSM Ebner Stolz supported USU with a financial fact book. Raymond James is serving as financial advisor and Kirkland & Ellis LLP is serving as legal advisor to Thoma Bravo.

About Thoma Bravo

Thoma Bravo is one of the largest software-focused investors in the world, with approximately US$160 billion in assets under management as of June 30, 2024. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo's deep sector knowledge and strategic and operational expertise, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20+ years, the firm has acquired or invested in more than 490 companies representing approximately US$265 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San Francisco. For more information, visit Thoma Bravo's website at thomabravo.com.

About USU Software AG

As a leading provider of software and service solutions for IT and customer-service management, USU enables companies to manage the requirements of today's digital world. Global organizations use our solutions to cut costs, become more agile, and reduce risks – with smarter services, simpler workflows, and better collaboration. With more than 45 years of experience and locations worldwide, the USU team brings customers into the future. The USU Digital Consulting business will remain a wholly owned subsidiary of USU Software AG. For more information, visit https://www.usu.com/en-us/.

SOURCE Thoma Bravo