Thoma Bravo acquires Sparta Systems

The California-based private equity firm will acquire Sparta Systems from Summit Partners and Altaris Capital Partners

California-based Thoma Bravo has acquired Sparta Systems from Summit Partners and Altaris Capital Partners. Terms of the deal were not disclosed.

Thoma Bravo was unavailable for comment on the transaction at press time.

Sparta Systems provides enterprise quality IT management solutions and has over 650,000 users in more than 30 countries. The company offers a platform – based on its flagship product TrackWise® – that enables manufacturers to deliver products to market safely and efficiently.

“Sparta Systems fits well into the Thoma Bravo buy-and-build investment strategy as a true market leader in a consolidating industry with mission critical product offerings and an experienced management team,” said Arvindh Kumar, vice president at Thoma Bravo in a statement.

Earlier this month, Summit Partners closed its second middle market credit fund on $1 billion, beating its $750 million hard-cap according to Private Equity International’s research and analytics division. That fund will make investments in companies similar to Sparta Systems – targeting technology, health care and life sciences companies.

Kirkland & Ellis, LLP, served as legal adviser to Thoma Bravo. Lazard acted as financial adviser and Proskauer as legal adviser to Sparta Systems.