Clearlake Capital Group L.P. did not disclose financial terms of the deal for the provider of enterprise solutions, from mainframe support to cloud computing.
“We are really looking forward to partnering with Clearlake to continue to grow the company, both organically and through acquisition,” Lonne Jaffe, Syncsort’s CEO, said in a prepared statement. “Clearlake’s proven track record in software investing, and substantial resources, will be instrumental in our continuing to deliver best-in-class software to our customers and partners, and to create lasting value for our business.
“It is very exciting for us that Clearlake shares our vision for accelerating growth and is investing in our successful technical strategy.”
Syncsort’s existing investors include Insight Venture Partners, Bessemer Venture Partners, Georgian Partners and others.
BofA Merrill Lynch and Pillar Capital Advisors acted as financial advisers to Syncsort. Evercore was Clearlake’s financial adviser.
Golub Capital is helping finance the transaction, and will act as administrative agent and sole bookrunner.