Goodwin advised client Thoma Bravo, LLC, a leading private equity investment firm, in its announced acquisition of T2 Systems, Inc., one of the nation's largest providers of parking management technology, from Pamlico Capital. Financial terms were not disclosed.
Thoma Bravo is focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business.
Founded in 1994, T2 Systems is a technology-focused parking systems provider with deep roots in the evolving parking industry. This commitment is evident in T2's quality products and services, thought leadership and strong customer relationships. The company's unified parking management and payment solutions provided under the T2 and Digital brands are in use by over 1,100 organizations across the U.S. and Canada including universities, cities, towns, hospitals and parking operators.
Earlier this year, Goodwin also represented Thoma Bravo in its acquisition of Infogix, Inc.
The Goodwin team advising Thoma Bravo included associate Amy Keller (Private Equity); partner Fred Lim and associate Dylan Brown (Debt Finance); partner Kelsey Lemaster and associate Kyle Pine (Tax); partner Joel Lehrer (Intellectual Property); partner Natascha George; counsel Jacqueline Klosek and associate Jennifer Ford (Privacy + Cybersecurity); with assistance from project assistant Jacquelyn Horton.
For more information on the transaction, please view the joint press release.