By Milana Vinn
(Reuters) -Buyout agency Thoma Bravo is exploring a $3 billion-plus sale of Apryse, after receiving curiosity from potential patrons of the doc processing software program supplier, folks accustomed to the matter mentioned on Thursday.
Thoma Bravo is working with funding bankers at Lazard on the sale course of, mentioned the sources, noting curiosity had already come from different non-public fairness companies.
As a part of any deal, Thoma Bravo could determine to retain a minority stake in Apryse, the sources mentioned. Additionally they cautioned that no sale was assured and spoke on situation of anonymity to debate confidential deliberations.
Thoma Bravo declined to remark, whereas Apryse and Lazard didn’t reply to Reuters’ requests for remark.
Denver, Colorado-based Apryse offers doc processing know-how for builders of cell and pc purposes, permitting them to create, edit, and convert digital paperwork, in addition to combine such capabilities into their very own purposes.
Its prospects embody Novartis, Wells Fargo and DocuSign, in response to its web site.
Apryse generates greater than $100 million in earnings earlier than curiosity, taxes, depreciation, and amortization (EBITDA) and is rising greater than 20 % yearly, the sources mentioned.
Any deal is predicted to worth the corporate at 30x its EBITDA or greater, the sources added.
PDFTron, the earlier title of Apryse, was based in 1998 as a doc processing know-how platform. It was acquired by Thoma Bravo in 2021, with the funding led by the co-head of Thoma’s Uncover platform, Hudson Smith. The corporate was renamed as Apryse two years later. Silversmith Capital Companions and the corporate’s administration workforce have remained minority shareholders within the enterprise.
Apryse has accomplished 9 add-on acquisitions to broaden its performance and international attain since Thoma Bravo acquired the corporate. These embody Netherlands-based digital doc processor TallComponents, which was introduced earlier this week, and AI-powered software program maker Lead Applied sciences, accomplished final yr.
(Reporting by Milana Vinn in New York; Enhancing by David Gregorio)
