William Blair acted as the exclusive financial advisor to Dude Solutions (Dude), a portfolio company of Warburg Pincus, in connection with its pending sale to Clearlake Capital (Clearlake). The transaction was announced on May 3, 2019.
Transaction Highlights
- Deep sector expertise: Dude and Warburg Pincus were attracted to William Blair's extensive knowledge of and experience in the facilities and operations management ecosystem, as well as William Blair's expertise in the broader software industry. By relying on its immense knowledge, William Blair was able to effectively position Dude in a way that resonated powerfully with prospective buyers.
- M&A process and execution excellence: William Blair designed and structured a highly competitive and robust process, leveraging its understanding of M&A dynamics to inform process and execution tactics. The transaction team was integrally involved and worked closely with Dude and Warburg Pincus throughout the entire process, culminating in an exceptional outcome for shareholders.
- Unmatched buyer relationships, access, and insights: William Blair's relevant and recent transaction experience with the most aggressive strategic and financial buyers enabled William Blair to provide unique access to key decision makers and insight into buyers' strategic priorities.
About the Companies
Dude, based in Cary, North Carolina, is a leading provider of cloud-based operations management software to optimize facilities, assets, and workflow. The company manages more than 9 billion gross square feet of facilities, handles nearly 50 million work orders per year, and manages more than 1 million buildings and locations primarily across the United States. With over 12,000 customers spanning the education, government, healthcare, and manufacturing sectors, Dude offers a comprehensive platform to end users via its Work and Asset Management, Energy Analytics, Event Management, and Community Development solutions. Dude is deeply embedded across the entire enterprise asset management ecosystem and empowers organizations to track assets, improve workflow, and make data-driven decisions.
Warburg Pincus is a leading global private equity firm focused on growth investing. The firm has more than $58 billion in private equity assets under management. The firm's active portfolio of more than 180 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Founded in 1966, Warburg Pincus has raised 18 private equity funds which have invested more than $74 billion in over 860 companies in more than 40 countries.
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.
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