Clearlake Capital Acquires Confluence from TA Associates
Fazzaco learned that Clearlake Capital Group, L.P., a leading investment firm focused on private equity and special situation transactions, has signed a definitive agreement to acquire technology solutions provider Confluence Technologies, Inc. from TA Associates.
According to the official press release, the transaction is expected to close in Q3 2021, pending customary regulatory approvals and closing conditions. Upon closing, Clearlake will become the majority shareholder while TA will retain a minority equity stake. In addition, Confluence CEO Mark Evans will continue to lead the company supported by the existing management team.
Founded in 1991, Confluence has offices in 10 countries supporting approximately 400 clients globally. Confluence works with the world's leading asset managers and service providers to automate business processes across the front, middle and back office.
Commenting on this news, Mark said, "This investment is a testament to our remarkable growth, innovative solutions, and incredible team. With the support of our new equity investor Clearlake, we will further accelerate our ongoing global expansion as we continue to work with our clients to achieve their goals."
As Fazzaco reported earlier, Confluence has expanded partnership with JP Morgan to deliver a multi-asset portfolio analytics solution. By the beginning of the third financial quarter of 2021, Confluence’s performance and risk solution, Delta, will have expanded its coverage to include U.S. securitized products. The solution will be enpowered by J.P Morgan’s proprietary analytics, and will also be available via the company’s platform.
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