CLEARLAKE CAPITAL COMPLETES ACQUISITION OF VISION SOLUTIONS
New platform investment in leading provider of data protection, high availability and cloud migration software
SANTA MONICA, CA (June 20, 2016) – Clearlake Capital Group, L.P. together with its affiliates (“Clearlake”) today announced that it has completed the acquisition of Vision Solutions, Inc. (“Vision” or the “Company”), a global data protection, high availability and cloud migration software provider with a proven track record of technological innovation on the IBM Power Systems, Windows, and Linux platforms. Financial terms of the transaction were not disclosed.
Vision Solutions is a leading provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center as enterprises migrate to the cloud and transform their operations. Vision’s software offerings facilitate near-zero downtime migration of data, applications and systems using real-time replication technology to significantly reduce time, cost, and risk.
“Our investment represents a substantial commitment to Vision’s global customer base and reflects our confidence in the company as a buy and build platform to grow organically and through acquisition,” said Behdad Eghbali and Prashant Mehrotra of Clearlake. “With the transaction now complete, Vision can leverage Clearlake’s substantial resources to propel its growth strategy and build on its lengthy track record as a leading enterprise software provider.”
“We are excited to enter a new chapter with Clearlake,” said Nicolaas Vlok, CEO of Vision Solutions. “Data protection software continues to be a high priority with growing demand from modern enterprise IT leaders. We look forward to leveraging Clearlake’s industry expertise to expand our footprint and serve the needs of our customers.”
UBS Investment Bank, Evercore, and Foros served as financial advisors to Clearlake. Jefferies LLC acted as exclusive financial advisor to Vision. Antares Capital provided a fully underwritten facility to help finance the transaction, and acted as administrative agent. Clearlake professionals Behdad Eghbali, Prashant Mehrotra and Paul Huber have joined Nicolaas Vlok on the Company’s Board of Directors. In addition, Clearlake operating advisor Keith Bradley and technology industry veteran Lonne Jaffe also joined Vision’s Board of Directors.
ABOUT CLEARLAKE CAPITAL GROUP
Clearlake Capital Group, L.P. is a private investment firm 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 and strategic expertise. The firm’s core target sectors include industrials, energy and power; technology, communications and business services; and consumer products and services. Clearlake currently has over $3.5 billion of assets under management. More information is available at www.clearlakecapital.com.
ABOUT VISION
Vision Solutions is the premier provider of software solutions designed to protect data, minimize downtime and maximize resources for the modern data center. It is the only company to deliver migrations, high availability, disaster recovery and data sharing across multiple operating systems, on any storage platform and in any physical, virtual or cloud environment. Its solutions perform near-zero downtime migration of data, applications and servers. It utilizes real-time replication to prevent data loss. And its software enables different database platforms to seamlessly share and consolidate data in real-time. Vision Solutions has been serving enterprises and managed service providers for over 25 years through our portfolio of Double-Take®, MIMIX® and iTERA® product brands.
MEDIA CONTACT
For Clearlake Capital Group
Owen Blicksilver Public Relations, Inc.
Kristin Celauro
(732) 264-1131
[email protected]
Jennifer Hurson
(845) 507-0571
[email protected]
FOR VISION SOLUTIONS
Rey Perez
Corporate Communications
312-226-4139
[email protected]
