With the additional investment in Aptean, TA Associates will become the lead shareholder of the US-based software company in which Charlesbank Capital Partners will continue as a shareholder, while Vista Equity Partners will completely exit its stake
Insight Partners and TA Associates to invest in Aptean. (Credit: Tumisu from Pixabay)
Aptean, a US-based industry-specific enterprise resource planning (ERP) and supply chain software provider, has secured an investment commitment from Insight Partners and TA Associates.
Through its investment, Insight Partners will get a minority stake in the company.
The financial terms of the deal were not revealed. However, the minority stake would value Aptean at nearly $3.55bn, reported Reuters, citing an undisclosed source having knowledge of the matter.
For TA Associates, which has been an existing investor in the software firm, will become its lead shareholder through the additional investment.
According to Aptean, Charlesbank Capital Partners will continue to hold a stake in the company, while Vista Equity Partners will completely exit as a shareholder.
Insight Partners managing directors Deven Parekh and Eoin Duane said: “We are thrilled to invest in Aptean at this moment in the company’s growth and look forward to partnering with TA and Charlesbank as Aptean continues its path of industry-leading innovation in the manufacturing ERP and supply chain market.”
Aptean’s mission-critical, industry-specific ERP and supply chain software is said to assist distributors and manufacturers manage and expand their businesses. The company is said to have over 10,000 customers in more than 20 industries and spread over 50 countries.
Aptean CEO TVN Reddy said: “Insight’s investment and TA’s recommitment demonstrate enduring confidence in our strategy and results.
“Together we will aim to accelerate the market success of our cloud-based solutions, as well as other organic and inorganic growth initiatives, to continue meeting the mission-critical needs of prospects and customers.”
Separately, Aptean has acquired Frontix, a cloud-based overall equipment effectiveness (OEE) and energy management solutions provider based in the Netherlands, for an undisclosed price.
Through the acquisition, Aptean will be adding new cloud-based process manufacturing OEE software in Benelux. Frontix’s OEE solution is said to be complementary to Aptean’s existing offerings to food and beverage, consumer packaged goods, and chemicals manufacturers in the region.