QAD offers solutions such as enterprise resource planning, demand and supply chain planning (DSCP), quality management system (QMS), and global trade and transportation execution (GTTE)
Thoma Bravo closes acquisition of QAD for $2bn. (Credit: Gerd Altmann from Pixabay)
US-based private equity firm Thoma Bravo has closed the acquisition of QAD, a provider of cloud-based manufacturing and supply chain solutions, for about $2bn in cash.
The deal, which was previously announced in June this year, was approved by the stockholders of QAD at a special stockholders meeting held on 2 November 2021.
Under the agreement, QAD stockholders will get $87.50 per share of Class A Common Stock or Class B Common Stock.
The common stock of QAD has stopped trading and will be delisted from the Nasdaq stock market.
QAD CEO Anton Chilton said: “The closing of this transaction is an important milestone in QAD’s history, and we are excited to begin the next phase of our company’s evolution.
“I am very proud of what QAD has achieved since its founding and the momentum we’ve built over the last few years.
“Now, with Thoma Bravo’s expertise, resources and support, we are well-positioned to build on that momentum, further expand our reach and enhance our value proposition for our customers.”
QAD, established in 1979, has 30 offices worldwide. The company claims that its solutions have been implemented by more than 2,000 manufacturing firms.
Its solutions include enterprise resource planning, demand and supply chain planning (DSCP), quality management system (QMS), and global trade and transportation execution (GTTE).
Thoma Bravo managing partner Scott Crabill said: “This is an outstanding opportunity to work with Anton and the talented QAD team to build on the company’s strong foundation and take the business to the next level.
“Through this partnership, we are committed to investing in QAD’s continued growth, advancing the company’s vision and driving sustainable value for all stakeholders.”
Morgan Stanley acted as a financial advisor to QAD’s special committee, and Paul, Weiss, Rifkind, Wharton & Garrison served as the special committee’s legal counsel. Manatt, Phelps & Phillips served as legal counsel to QAD.
Barclays served as a financial advisor to Thoma Bravo on the transaction, while Kirkland & Ellis acted as legal counsel.