Private equity investment firm Thoma Bravo of Chicago announced Tuesday that it has closed on its previously announced acquisition of ABC Financial Services Inc. of Sherwood, a software and payment processing company for the health and fitness industry.
Financial details of the transaction were not disclosed.
Thoma Bravo said its investment would enable ABC Financial to grow the services it offers by scaling the company’s operations and further developing its suite of software products.
According to a news release, the firm “will work alongside ABC Financial’s management team to expand the company’s global footprint and ability to deliver additional cutting-edge products …”
Paul Schaller, president and CEO of ABC Financial, called Thoma Bravo “the perfect strategic partner to help us enter the next stage as a company.”
He also said in the release, “Their track-record of working successfully to strengthen and build software-driven companies gives us the expertise and experience we need to serve our expanding customer base across the world.”
Scott Crabill, managing partner at Thoma Bravo, added, “Already a leader within its market, we’re confident that our partnership will help extend and expand this already exceptional business.”
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