Clearlake Capital’s acquisition of Perforce Software


Harris Williams served as financial advisors to Clearlake. Shea & Company served as financial advisor to Perforce and Summit Partners. Antares Capital, AllianceBernstein Private Credit and Vista Credit provided a fully underwritten facility to help finance the transaction. Kirkland counsels Clearlake Capital.

Clearlake Capital Group, L.P. has acquired Perforce Software, developer of the industry’s most flexible, scalable and secure version control and collaboration platform, from growth equity investor Summit Partners. The Company will continue to be led by Janet Dryer, CEO, and Mark Ties, COO, who will both join the Board of Directors alongside Clearlake. Financial terms were not disclosed.

Perforce is a leading provider of enterprise scale software solutions to technology developers and development operations (“DevOps”) teams requiring productivity, visibility and scale during all phases of the development lifecycle. Enterprises across the globe rely on its agile project management, developer collaboration, version control and repository management solutions as the foundation for successful DevOps. Perforce is trusted by the world’s most innovative brands, including NVIDIA, Pixar, Scania, Ubisoft, and VMware. Headquartered in Minneapolis, MN, with over 225 employees, the Company serves more than 3,000 customers worldwide.

Kirkland & Ellis LLP advised Clearlake Capital Group, L.P. with a team led bycorporate partners Hamed Meshki (Picture) and Luke Guerra and including corporate associates Jean A. Lee, Anthony Gin and Michael Chung; finance partners David Nemecek and Brian Ford and associate Elizabeth Thorne; tax partner Russell Light and associate Timothy Campany; technology and intellectual property transactions partner Sam Hong and associate Kevin Jacobsen; real estate partner Roberto Miceli; international trade associates Jen Fernandez and Carolyn Schroll; and environmental transactional partner Stefanie Gitler and associate Michelle Sliwinski.

Involved fees earner: Hamed Meshki – Kirkland & Ellis; Luke Guerra – Kirkland & Ellis; Jean Lee – Kirkland & Ellis; Anthony Gin – Kirkland & Ellis; Michael Chung – Kirkland & Ellis; David Nemecek – Kirkland & Ellis; Brian Ford – Kirkland & Ellis; Elizabeth Thorne – Kirkland & Ellis; Russell Light – Kirkland & Ellis; Timothy Campany – Kirkland & Ellis; Sam Hong – Kirkland & Ellis; Kevin Jacobsen – Kirkland & Ellis; Roberto Miceli – Kirkland & Ellis; Jennifer Fernandez – Kirkland & Ellis; Carolyn Schroll – Kirkland & Ellis; Stefanie Gitler – Kirkland & Ellis; Michelle Sliwinski – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Clearlake Capital Group, L.P.;

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Author: Ambrogio Visconti