Aptean Secures Strategic Growth Investment from TA and Insight Partners to Accelerate Innovation and Global Expansion
Aptean, a global provider of mission-critical, industry-specific enterprise resource planning (ERP) and supply chain software, announced today that a definitive agreement has been signed through which it will receive a strategic investment from Insight Partners (Insight), a New York-based global private equity and venture capital firm, and existing investor TA Associates (TA). With its new investment, TA, a leading global growth private equity firm, will become the lead shareholder of Aptean. Charlesbank Capital Partners (Charlesbank), a middle-market private investment firm based in Boston and New York, will continue as a shareholder, while Vista Equity Partners (Vista) will fully exit its stake in the company
“We are excited to partner with Insight and leverage the firm’s significant experience investing in software companies to advance Aptean’s growth journey,” said TVN Reddy, CEO of Aptean. “Insight’s investment and TA’s recommitment demonstrate enduring confidence in our strategy and results. Together we will aim to accelerate the market success of our cloud-based solutions, as well as other organic and inorganic growth initiatives, to continue meeting the mission-critical needs of prospects and customers.”
Today, Aptean has more than 10,000 customers in over 20 industries who rely on its mission-critical ERP and supply chain applications to run their daily operations, spanning more than 50 countries. Key sectors for Aptean include both process and discrete manufacturing, as well as distribution. Over the past 24 months Aptean’s total revenues have almost doubled, driven by the company’s significant investment in organic initiatives and strategic acquisitions, particularly in Europe. Aptean’s international footprint now represents almost half of the company’s total revenues. Aptean has simultaneously grown its talented employee base to more than 3,000 individuals across the globe.
“Driven by the company’s significant investment in new cloud SaaS based-applications and strategic acquisitions, Aptean’s organic growth rate has accelerated, providing significant tailwinds for the future,” said Hythem El-Nazer, Managing Director at TA, and Mike Libert, Director at TA. “We are excited to make an additional growth investment in Aptean, and look forward to deepening our partnership with the Aptean management team, Charlesbank and now Insight.”
“We are thrilled to invest in Aptean at this moment in the company’s growth and look forward to partnering with TA and Charlesbank as Aptean continues its path of industry-leading innovation in the manufacturing ERP and supply chain market,” said Deven Parekh and Eoin Duane, Managing Directors at Insight. Eoin Duane will join representatives from TA and Charlesbank on the Aptean Board of Directors.
“Aptean has far exceeded our expectations since our investment in 2020,” said Hiren Mankodi, Managing Director at Charlesbank. “The company’s organic growth, product leadership and strategic acquisitions have accelerated its trajectory. Aptean’s brand is a clear success story in enterprise software, and we are pleased to continue being investors in the company.”
“Since our initial investment in 2012, Aptean has transformed into a next-gen SaaS provider for leading enterprises across the globe,” stated Marc Teillon, Co-Head of Vista’s Foundation Fund and Senior Managing Director. “It has been a pleasure partnering with the entire Aptean team, and we wish them the best as they continue to scale and build on their success.”
District Capital Partners served as the exclusive financial advisor to Insight Partners on the transaction.
Aptean is one of the world’s leading providers of purpose-built, industry-specific software that helps manufacturers and distributors effectively run and grow their businesses. With both cloud and on-premise deployment options, Aptean’s products, services and unmatched expertise help businesses of all sizes to be Ready for What’s Next, Now®. Aptean is headquartered in Alpharetta, Georgia and has offices in North America, Europe and Asia-Pacific. To learn more about Aptean and the markets we serve, visit www.aptean.com.
Aptean and Ready for What’s Next, Now are Registered Trademarks of Aptean, Inc. All other company and product names may be trademarks of the respective companies with which they are associated.
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 560 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 110 investment professionals are based in Boston, Menlo Park, Austin, 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 June 30, 2022, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 700 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 www.insightpartners.com.
About Charlesbank Capital Partners
Based in Boston and New York, Charlesbank Capital Partners (Charlesbank) is a middle-market private investment firm with more than $15 billion of capital raised since inception. Charlesbank focuses on management-led buyouts and growth capital financings, and also engages in opportunistic credit and technology investments. The firm seeks to build companies with sustainable competitive advantage and excellent prospects for growth. For more information, please visit www.charlesbank.com.
About Vista Equity Partners
Vista is a leading global investment firm with $94 billion in assets under management as of June 30, 2022. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.