Precisely (“Precisely” or the “Company”), a global leader in data integrity software, today announced that Insight Partners (“Insight”) and Partners Group, acting on behalf of its clients, have signed a definitive agreement to make a significant strategic investment in the Company. Insight and Partners Group will join Clearlake Capital Group, L.P. (together with its affiliates, “Clearlake”), TA Associates (“TA”), and Centerbridge Partners (“Centerbridge”) as institutional investors in Precisely. Terms of the transaction were not disclosed.
Precisely provides comprehensive software, data, and strategic services across the data integrity spectrum. The Company’s software solutions are utilized by over 12,000 enterprise customers, including 99 of the Fortune 100, and enable companies to sustain trusted, accurate data and improve decision making. Since Clearlake and TA’s majority investment in Precisely in 2021, the Company has completed five acquisitions, demonstrating its commitment to delivering the industry’s most comprehensive and robust data integrity software portfolio. The additional capital from Insight and Partners Group will enable Precisely to extend its strong market position through continued product innovation and acquisitions. Precisely will continue to be led by its current CEO, Josh Rogers, and the existing management team.
“Insight and Partners Group’s investment in Precisely reflects confidence in our growth plans and ongoing expansion as the most diversified platform of scale in data integrity,” said Josh Rogers, CEO of Precisely. “Enterprises around the world are increasingly focused on utilizing data to make trusted business decisions. They require data with maximum accuracy, consistency, and context. With our added breadth of solutions, Precisely is uniquely positioned to deliver value to our customers across the entire spectrum of data integrity. We’re excited to continue our partnership with Clearlake, TA, and Centerbridge, and welcome Insight and Partners Group’s support in helping us accelerate our organic and buy-and-build strategy.”
“Precisely has continued to demonstrate its ability to innovate and identify software solutions that best address the complex data quality challenges facing enterprises today,” said Harry Taylor, Managing Director, and Michael Libert, Director, at TA. “We believe the Company is well positioned for further expansion to support businesses and meet the increasing demand for data integrity software. We are thrilled to welcome Insight and Partners Group, and to continue our partnership with Clearlake, Centerbridge, and the entire Precisely team, as we aim to promote innovation and growth.”
“Precisely has become a leader in the data integrity segment, helping enterprise customers make informed business decisions across verticals including financial services, insurance, healthcare, retail and more,” said Deven Parekh, Managing Director at Insight Partners. “Insight has a long history with Precisely and is thrilled to be partnering with them again as they continue to leverage their strategic position for organic growth and strategic M&A.” Eoin Duane, Managing Director at Insight Partners, will join Precisely’s board.
“Business intelligence cannot exist without quality data,” added Anthony Shontz, Partner, Co-Head Private Equity Integrated Investments, and Chris Russell, Managing Director, Private Equity at Partners Group. “Precisely is at the forefront of data integrity solutions, unlocking enhanced analytics and decision making. We are excited to support Precisely as they extend their leadership position in this digital transformation.”
“Since our initial investment and sponsorship of the Company in 2015, Precisely has experienced significant revenue growth and augmented its product offerings both organically and inorganically in the robust data integrity software market,” commented Behdad Eghbali, Co-Founder and Managing Partner, and Prashant Mehrotra, Partner at Clearlake. “We welcome our new strategic investment partners, Insight and Partners Group, to help drive continued expansion of the Precisely platform and look forward to supporting Josh and the management team in deploying our O.P.S.® framework to further accelerate the Company’s growth and to execute on its buy-and-build strategy.”
SVB Securities and Evercore acted as financial advisors to Precisely, and Rothschild & Co. served as the exclusive financial advisor to Insight Partners. Sidley Austin LLP provided legal counsel for Precisely, Willkie Farr & Gallagher LLP provided legal counsel for Insight Partners, Latham & Watkins LLP provided legal counsel for Partners Group, and Kirkland & Ellis LLP provided legal counsel for Clearlake.
Precisely is the global leader in data integrity, providing accuracy, consistency, and context in data for 12,000 customers in more than 100 countries, including 99 of the Fortune 100. Precisely’s data integration, data quality, data governance, location intelligence, and data enrichment products power better business decisions to create better outcomes. Learn more at www.precisely.com.
Clearlake Capital Group, L.P. is an investment firm founded in 2006 operating integrated businesses across private equity, credit and other related strategies. With a sector-focused approach, the firm seeks to partner with management teams by providing patient, long-term capital to businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.® The firm’s core target sectors are industrials, technology, and consumer. Clearlake currently has over $72 billion of assets under management, and its senior investment principals have led or co-led over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in Dallas, TX, London, UK and Dublin, Ireland. More information is available at www.clearlake.com and on Twitter @Clearlake.
About TA Associates
TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer, and business services – the firm invests in profitable, growing companies with opportunities for sustained growth and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of February 24, 2022, the closing of the firm’s recent fundraise, Fund XII, brings Insight Partners’ regulatory assets under management to over $90 billion. Insight Partners has invested in more than 600 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and Palo Alto. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Insight Partners meets great software leaders where they are in their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Partners Group
Partners Group is a leading global private markets firm. Since 1996, the firm has invested over USD 170 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns through capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impact for all its stakeholders. With USD 127 billion in assets under management as of 31 December 2021, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices and private individuals globally. The firm employs more than 1,500 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.
About Centerbridge Partners
Centerbridge Partners, L.P. is a private investment management firm employing a flexible approach across investment disciplines – private equity, credit and real estate – in an effort to develop the most attractive opportunities for our investors. The Firm was founded in 2005 and as of February 28, 2022 has approximately $33 billion in capital under management with offices in New York and London. Centerbridge is dedicated to partnering with world-class management teams across targeted industry sectors and geographies. For more information, please visit www.centerbridge.com
For Precisely and Clearlake:
Jennifer Hurson, Lambert & Co.
For TA Associates: