CLEARLAKE CAPITAL TO ACQUIRE VISION SOLUTIONS
New platform investment in leading data protection, high availability and cloud migration software provider poised for continued growth
SANTA MONICA, CA (May 12, 2016) – Clearlake Capital Group, L.P. together with its affiliates (“Clearlake”) today announced that it has reached a definitive agreement to acquire 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 – from private equity investment firm Thoma Bravo, LLC. Financial terms of the transaction were not disclosed.
Headquartered in Irvine, CA, 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. 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. Vision serves a diverse base of approximately 12,000 customers ranging from SMBs to the Fortune 500 in over 70 countries worldwide.
“We are thrilled to back Vision as a new platform investment and are enthusiastic to accelerate the buy and build strategy as Vision extends deeper into providing end to end software protection solutions for the data center,” said Behdad Eghbali, a Managing Partner of Clearlake. “We are pleased to partner with Vision’s highly talented management team, led by Nicolaas, to continue to grow and build out both the Vision Power Systems and Double-Take Software businesses.”
“We are excited to team with Clearlake, which brings proven software experience and substantial resources that will be instrumental as we aggressively pursue growth and evaluate M&A opportunities,” said Nicolaas Vlok, CEO of Vision. “We’re grateful for the partnership with Thoma Bravo over the years and are excited about this new chapter for our business as we build on our 25 year track record of serving enterprises, channel partners, and managed service providers.”
“Due to the complexity of protecting ever-changing infrastructures and exploding volumes of data, enterprise customers require more simplified and cost effective IT management tools to meet their needs. Vision has long been recognized by its customers and partners as a platform agnostic leader in delivering comprehensive and reliable data protection, high availability and cloud migration software solutions for virtually any hybrid IT environment. We look forward to working with Vision’s very experienced management team to continue to build on the Company’s world class reputation and its growth trajectory,” added Prashant Mehrotra, Partner of Clearlake.
UBS Investment Bank, Evercore, and Foros served as financial advisors to Clearlake. Jefferies LLC acted as exclusive financial advisor to Vision and Thoma Bravo. Antares Capital is providing a fully underwritten facility to help finance the transaction, and will be acting as administrative agent. Clearlake professionals Behdad Eghbali, Prashant Mehrotra, and Paul Huber will join the Company’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
[email protected]
(732) 264-1131
Jennifer Hurson
[email protected]
(845) 507-0571
For Vision Solutions
Michael Monahan
[email protected]
312-673-6064
