Growth investment aims to enhance Solifi’s product offering and accelerate expansion into adjacent markets and new geographies through strategic M&A
Minneapolis, US and Milton Keynes, UK – October 9, 2024 – Solifi, a global fintech software partner for secured finance, today announced that it will receive a majority investment from TA Associates (“TA”), a leading global private equity firm. This transaction will accelerate Solifi’s growth by supporting product innovation, driving expansion into adjacent financing markets and new geographies, and delivering enhanced value to its customers. Existing investor Thoma Bravo, a leading software investment firm, will continue to maintain a meaningful stake in Solifi.
Solifi is a provider of scalable front-and back-office software that empowers customers to effectively manage their asset finance portfolios across equipment, automotive, wholesale, and working capital finance. Its customers include many of the world’s largest banks as well as independent and captive finance organizations. Today, Solifi’s team of over 650 people operates globally with dual headquarters in Minneapolis, US, and Milton Keynes, UK, and regional offices in Australia, Austria, Canada, Germany, and India.
“TA’s expertise scaling companies will be a significant value-add for Solifi as we look to expand our business and reach our full potential as a leading provider of end-to-end solutions for the secured finance market,” said David Hamilton, CEO of Solifi. “For over 50 years, we have been committed to helping our customers strengthen their market position with our scalable, secure, and best-in-class software solutions. We are incredibly proud of our growth thus far, and are grateful to have Thoma Bravo’s continued support as we begin this exciting next chapter in partnership with TA.”
“We have tracked Solifi for many years and have been continually impressed by its leadership in developing innovative, mission-critical technology for the secured finance market,” said Harry Taylor, Managing Director at TA. “As more organizations aim to modernize their financial processes and migrate to the cloud, Solifi’s Open Finance Platform is well-equipped to support enterprises in their digital transformation journey, helping them automate their workflows and maximize efficiency.”
“We believe there is significant opportunity for Solifi to expand both organically and through strategic acquisitions and look forward to collaborating with David, the Solifi team and Thoma Bravo in Solifi’s next phase of growth,” added Nicholas D. Leppla, Director at TA.
“As a partner to Solifi since 2019, it has been a privilege to work alongside David and his team to drive the company’s evolution through product expansion and accretive acquisitions,” said A.J. Rohde, Senior Partner at Thoma Bravo. “We are excited to continue our relationship with Solifi as it enters this new stage of growth.”
“We are thrilled to partner with TA and jointly work to further strengthen Solifi’s position as the world’s leading provider of secured finance software technology,” added George Jaber, Principal at Thoma Bravo.
Goodwin Procter LLP provided legal counsel to TA. Jefferies LLC served as financial advisor and Kirkland & Ellis LLP provided legal counsel to Solifi. Financial terms of the transaction were not disclosed.
About Solifi
Celebrating 50 years of business, Solifi is a global, multi-asset, cloud-based finance technology company that supplies automotive finance, equipment finance, wholesale/floorplan finance, and working capital solutions to enterprises across the globe. Our mission is to reshape finance technology by bringing together proven solutions into a singular powerful technology platform designed to help organizations protect and scale their business. For more information, visit www.solifi.com.
About TA
TA is a leading global private equity firm focused on scaling growth in profitable companies. Since 1968, TA has invested in more than 560 companies across its five target industries – technology, healthcare, financial services, consumer and business services. Leveraging its deep industry expertise and strategic resources, TA collaborates with management teams worldwide to help high-quality companies deliver lasting value. The firm has raised $65 billion in capital to date and has over 150 investment professionals across offices in Boston, Menlo Park, Austin, London, Mumbai and Hong Kong. For more information, visit: www.ta.com.
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
