- Recently private equity firm Thoma Bravo announced that it reached an agreement to acquire J.D. Power. These are the details behind the deal.
Private equity firm Thoma Bravo, LLC recently announced it reached an agreement to acquire J.D. Power — which is a global leader in data analytics and consumer intelligence. The deal is expected to close by the end of the year and it is subject to customary closing conditions.
Once the deal closes, Thoma Bravo plans to partner with J.D. Power’s existing team in the ongoing expansion of the company with a focus on the continued development of enhanced industry insights and advanced analytics along with innovative new offerings. As part of the deal, J.D. Power’s existing management team and employee-owners will be rolling over their ownership interest in the company.
“We are thrilled to partner with Thoma Bravo, a firm that clearly understands our space and is well-positioned to help us develop new growth opportunities and continue on our current path of rapid expansion,” said J.D. Power President and CEO Dave Habiger. “This is an exciting step forward for our company, and we look forward to a fruitful partnership that will help us maximize our company’s fullest potential.”
J.D. Power — a pioneer in data science — has been delivering incisive industry intelligence on consumer interactions with brands and products for over 50 years. And the world’s leading businesses across more than a dozen different industries rely on J.D. Power data, research, and insights to guide their customer-facing strategies. And consumers around the world turn to J.D. Power ratings as the undisputed mark of quality.
“J.D. Power is one of the most recognized brands in the world, synonymous with a deep understanding of real-world customer experience, and it provides trusted insight that businesses of every type need in order to make critical strategic decisions,” added Scott Crabill — a Managing Partner at Thoma Bravo. “More recently, the company has expanded its leadership to include globally recognized experts in several industries, and it has dramatically expanded its analytics and product offerings, leveraging AI, the cloud and big data in ways that really showcase the brand’s significant near-term and long-term growth potential. We look forward to partnering with Dave Habiger and his team to further accelerate the business and build even greater value for J.D. Power’s employees, customers and partners globally.”
Thoma Bravo runs a series of funds that represents more than $30 billion in capital commitments. And some of its past and present portfolio companies include Blue Coat Systems, Deltek, Frontline Education, Hyland Software, Imprivata, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems, TravelClick. and Veracode.
“We saw J.D. Power as an iconic brand with strong upside potential and have been greatly impressed with the management team’s accelerating the digitization of the platform, including the successful implementation of AI initiatives and introduction of innovative analytics products,” noted Joseph Pacini — a spokesperson for London-based XIO Group. “As we exit our investment, we wish them every success in the years ahead.”
J.D. Power is being advised by Evercore and Cravath, Swaine & Moore LLP. And Kirkland & Ellis is serving as the legal advisor and Barclays and RBC Capital Markets are acting as financial advisors to Thoma Bravo. The financing for the transaction is being provided by RBC Capital Markets, KKR, and SunTrust Bank.
