FOLLOW US

In an audacious play that's shaking up the public sector software arena, Blackstone Inc., guided by legal eagles at Simpson Thacher, has unveiled plans on Wednesday to acquire Civica. This deal, a masterstroke in the world of private equity, is estimated to be worth a colossal $2.5 billion.

Simpson Thacher Guides Blackstone On $2.5B Civica Deal : Legal Powerhouses at the Helm

Representing the sellers, Clifford Chance LLP stands for Partners Group AG, while Travers Smith LLP is the guiding light for Civica Group Ltd. Blackstone, in a move that mirrors a grandmaster's chess strategy, labels Civica as a titan among U.K.'s software firms, boasting a clientele spanning government, healthcare, and education sectors.

Civica: A Technological Vanguard

At the heart of this deal lies Civica, a beacon in the software world. Their arsenal includes cutting-edge solutions in workflow automation, risk compliance, workforce management, and data analytics. Blackstone praises Civica as a trailblazer in government technology, riding the wave of digital transformation in the public sector, powered by government's hefty investment in tech upgrades.

Simpson Thacher Guides Blackstone On $2.5B Civica Deal : The Voices of Command

The spotlight shines on Jonathan Murphy and Miguel García Gómez, Blackstone's masterminds, who hailed Civica's sterling brand and commanding market stance in a joint statement. An insider, privy to the deal's intricacies, confirmed the staggering $2.5 billion valuation, debt inclusive.

The Countdown Begins: A 2024 Closing in Sight

With regulatory nods pending, the transaction's curtain is set to fall in the second quarter of 2024. In this financial theatre, Barclays takes center stage as Blackstone's lead financial advisor, flanked by DC Advisory. Arma Partners and Wyvern Partners join the fray as the exclusive and additional financial advisors for Partners Group and Civica.

Civica's Vision: Pioneering 'GovTech'

Lee Perkins, Civica's chief, envisions the company as a 'GovTech' titan, committed to delivering software that not only meets the needs of citizens but also empowers those serving them. Under Partners Group's wing, Civica has soared, revolutionizing its offerings in cloud services, digital enablement, and data analytics.

Simpson Thacher Guides Blackstone On $2.5B Civica Deal : Crafting a Software Titan

With $142 billion in assets under its belt, Partners Group has sculpted Civica's journey, transitioning it towards a pure software entity and embracing cloud technology. Bilge Ogut, at the helm of Partners Group's tech division, anticipates Civica's continued role as a digital transformation lynchpin for its clientele.

Simpson Thacher's Strategic Squadron

Spearheading Blackstone's legal battalion, Simpson Thacher & Bartlett LLP's team includes Geoffrey Bailhache in corporate strategy, Andrew Bechtel in credit counsel, and environmental expert Matt Feehily, orchestrating this high-stakes acquisition.