Santa Monica/Salt Lake City, US, January 3 — Clearlake Capital announces to acquire LANDESK to merge them with, their already owned software company, HEAT, for an undisclosed amount.
After the merge, the combined company will be rebranded to operate under a different name, which is yet to be announced, and it will be led by LANDESK CEO Steve Daly, headquartered in Salt Lake City.
LANDESK was founded in 1986 and has become one of the industry leaders in the field of security and process automation solutions for enterprise IT management. HEAT was founded a little later in 1989 and has become a provider of service management and unified endpoint management software solutions.
“This is an exciting day for LANDESK. We are thrilled to work with Clearlake in this next phase of our growth trajectory, as they bring significant endpoint security software domain expertise and cloud experience that will be critical to continue to build our platform organically and through acquisition,” said Steve Daly, CEO of LANDESK. “We are grateful for the partnership with Thoma Bravo over the years and are excited about this new chapter of growth for our business, particularly the addition of HEAT to our platform. HEAT’s products align well with our mission to help our customers build modern, user-centered IT organizations and will provide additional expertise and capabilities as we accelerate our investments in the cloud.”
“We are pleased to welcome LANDESK to the Clearlake portfolio as a new platform investment. We’ve been impressed with LANDESK’s vision, and its ability to build shareholder value through consistent organic and inorganic growth initiatives,” said Behdad Eghbali, a Co-Founder and Managing Partner at Clearlake. “Together, LANDESK and HEAT are well-positioned to deliver market-leading solutions that continue to expand their security and cloud offerings and accelerate growth.”
“At HEAT, we are dedicated to providing customers with cloud solutions that make their businesses more efficient, compliant, and secure,” added John Ferron. “This is a marriage of two organizations with a shared vision. Together, we will offer our customers a one-stop shop for IT solutions that solve everyday business challenges.”
“There is a critical need for enterprise IT to better understand what is happening in the user environment, while securing critical assets and data, and to have the operations management tools to take action when needed. We believe this transformational combination with HEAT will further enhance LANDESK’s scale, breadth of capabilities, and resources to deliver comprehensive solutions to address these complex IT security challenges and risks,” added Prashant Mehrotra and James Pade of Clearlake. “We are excited to partner with the team to continue to build on LANDESK’s 30-year track record of delivering world-class products and robust solutions that grow with the needs of its customers.”
Clearlake Capital Group, L.P. is a leading private investment firm founded in 2006. With a sector-focused approach, the firm seeks to partner with world-class management teams by providing patient, long-term capital to dynamic businesses that can benefit from Clearlake’s operational improvement approach, O.P.S.SM. The firm’s core target sectors are software and technology-enabled services; industrials and energy; and consumer. Clearlake currently has over $3 billion of assets under management and its senior investment principals have led or co-led over 90 investments in traditional buyouts, corporate carve-outs, recapitalizations, turnarounds and restructurings, structured equity and credit, and other special situations as well as public equity and secondary debt.
LANDESK is the global authority on modern, user-centered IT. By integrating and automating IT tasks, LANDESK helps organizations balance rapidly-evolving user requirements with the need to secure critical assets and data. LANDESK is headquartered in Salt Lake City, UT, and has offices all over the world.
HEAT is a leading provider of Cloud Service Management and Unified Endpoint Management software solutions for organizations of all sizes. HEAT manages millions of service interactions and millions of endpoints every day for thousands of leading organizations across IT, HR, Facilities, Finance, Customer Service and other enterprise functions. Its customers deliver world-class service while maximizing operational efficiencies with reduced cost and complexity.
Photo credit: Edgar Zuniga Jr.
Source: Press release via Kristin Celauro, Jennifer Hurson (Owen Blicksilver Public Relations) / Leslie Bonsteel (LANDESK) / Amberly Asay (Method Communications). Other information has been sourced from Crunchbase.
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