Clearlake Capital Group’s Acquisition of Confluence Technologies

Sidley Austin LLP advised Clearlake Capital Group, L.P. on the deal.

Confluence Technologies, Inc., a global software and data solutions provider helping the investment management industry solve complex data challenges, announced it has signed a definitive agreement for Clearlake Capital Group, L.P. to acquire the Company from TA Associates. Upon closing of the transaction, Clearlake will become the majority shareholder while TA will retain a minority equity stake. Mark Evans, CEO of Confluence, will continue to lead the Company supported by the existing management team.

Confluence works with the world’s leading asset managers and service providers to automate business processes across the front, middle and back office. The Company’s investments in the latest technology and expertise allow it to deliver innovative portfolio analytics, regulatory and financial reporting solutions for its clients. Founded in 1991, Confluence has offices in 10 countries supporting approximately 400 clients globally.

Morgan Stanley & Co. LLC acted as financial advisor to Confluence, with K&L Gates LLP serving as legal advisor. Raymond James acted as financial advisor to Clearlake, with Sidley Austin LLP serving as legal advisor.

The Sidley team is being led by Mehdi Khodadad (Picture), Matthew Stoker, and Mark Castiglia (M&A and Private Equity), and included Patrick Sims (M&A and Private Equity); Eric Kauffman, Peter McCorkell, and Emily Wajert (Employment); Dusan Clark and Kyle Barnett (Technology and IP Transactions); Stacy Crosnicker and Sarah Recktenwald (Employee Benefits and Executive Compensation); Rachel Kleinberg and Jonathan Westreich (Tax); Karen Kazmerzak, Ken Daly, Elizabeth Chen, and Jakob Dewispelaere (Antitrust/Competition); Sven De Knop and Alessandra Moroni (International Trade); and Ash Nagdev, Mark Prior, and Denise Kara (Privacy and Cybersecurity).

Involved fees earner: Kyle Barnett – Sidley Austin LLP; Mark Castiglia – Sidley Austin LLP; Elizabeth Chen – Sidley Austin LLP; Dusan Clark – Sidley Austin LLP; Stacy Crosnicker – Sidley Austin LLP; Ken Daly – Sidley Austin LLP; Sven De Knop – Sidley Austin LLP; Jakob Dewispelaere – Sidley Austin LLP; Denise Kara – Sidley Austin LLP; Eric Kauffman – Sidley Austin LLP; Karen Kazmerzak – Sidley Austin LLP; Mehdi Khodadad – Sidley Austin LLP; Rachel D. Kleinberg – Sidley Austin LLP; Peter McCorkell – Sidley Austin LLP; Alessandra Moroni – Sidley Austin LLP; Ash Nagdev – Sidley Austin LLP; Mark Prior – Sidley Austin LLP; Sarah Recktenwald – Sidley Austin LLP; Patrick Sims – Sidley Austin LLP; Matthew Stoker – Sidley Austin LLP; Emily Wajert – Sidley Austin LLP; Jonathan Westreich – Sidley Austin LLP;

Law Firms: Sidley Austin LLP;

Clients: Clearlake Capital Group, L.P.;

Author: Martina Bellini