Thoma Bravo’s $2 Billion Acquisition of QAD

Paul Hastings advised Pamela Lopker, founder and controlling stockholder of QAD, on the deal.

QAD Inc. (Nasdaq: QADA) (Nasdaq: QADB), a leading provider of next-generation manufacturing and supply chain solutions in the cloud, announced that it has entered into a definitive agreement to be acquired by Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector, in an all-cash transaction with an equity value of approximately $2 billion. Under the terms of the agreement, QAD shareholders will receive $87.50 per share of Class A Common Stock or Class B Common Stock in cash.

Upon completion of the transaction, QAD will become a private company with the flexibility to continue investing in the development and deployment of Enterprise Resource Planning (ERP) software and related enterprise software for manufacturing companies around the world. Anton Chilton will continue to lead QAD as CEO, and the Company will maintain its headquarters in Santa Barbara, California.

Morgan Stanley & Co. LLC is serving as financial advisor to QAD’s Special Committee, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as the Special Committee’s legal counsel. Moelis & Company LLC is serving as financial advisor and Paul Hastings LLP is serving as legal counsel to Ms. Lopker.

QAD Inc. is a leading provider of next generation manufacturing and supply chain solutions in the cloud. 

Thoma Bravo is one of the largest private equity firms in the world, with more than $78 billion in assets under management.

M&A Partner David Hernand (Picture) led the Paul Hastings team, which included partners Sean Monroe and Steve Camahort; of counsel Rick Horvath, and associates Stuart Downey and Julian Alsarhn. Additional advice was provided by partner Stephen Harris, of counsel Amy Lawrence, and associate M’Alyssa Mecenas on Tax.

 

 

Involved fees earner: Steve Camahort – Paul Hastings LLP; David Hernand – Paul Hastings LLP; Rick Horvath – Paul Hastings LLP; Sean Monroe – Paul Hastings LLP;

Law Firms: Paul Hastings LLP;

Clients: Lopker Pamela;

Martina Bellini

Author: Martina Bellini