Black
Mountain Systems, LLC (“Black Mountain”), the leading provider of
innovative workflow software solutions to credit investors and
alternative asset managers, announced today that it is being acquired by Vista
Equity Partners (“Vista”), a leading investment firm focused on
enterprise software, data and technology-enabled businesses.
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Vista’s investment in Black Mountain will help drive the software
company’s continued growth domestically and internationally, while also
providing new capital to invest in the development of Black Mountain’s
state of the art platform and tailored solutions for data aggregation,
process management, and business reporting.
“We’re thrilled to become a part of the Vista family and look forward to
the myriad of ways that their investment will help us grow our company,
better serve our customers, and expand our team,” said Black Mountain
founder and co-CEO Kevin MacDonald. “We look forward to working with
them as we enter this next chapter.”
“This investment is a significant milestone for our company, our
employees, and our customers,” said Black Mountain co-CEO Andy Horwitz.
“We’ve already established ourselves as the market leader in workflow
software for credit, structured credit, and alternative asset managers
and now we have a partner in Vista who will help us leverage and build
upon that leadership position with financial and intellectual capital to
accelerate our growth.”
Black Mountain’s software and data aggregation capabilities provide
mission critical solutions and valuable insights to a customer base that
includes 50 of the top 100 Collateralized Loan Obligation managers,
leading private debt funds, commercial banks and alternative asset
managers, representing more than two trillion dollars in total assets
under management.
“Black Mountain has long been the standard-bearer for process management
and portfolio monitoring solutions in its field,” said Robert F. Smith,
Founder, Chairman and CEO of Vista Equity Partners. “We’re
looking forward to working with this talented and innovative company to
push it even further ahead of the competition, unlocking new value for
both customers and stakeholders.”
Black Mountain’s current investor, Stone Point Capital LLC (“Stone
Point”), acquired the software company in 2015. Stone Point will exit
its partnership with Black Mountain upon its sale to Vista, which is
subject to customary closing conditions and regulatory approvals.
“We thank Andy Horwitz, Kevin MacDonald and the Black Mountain team for
an outstanding partnership,” said Chuck Davis, CEO of Stone Point.
“Black Mountain has achieved significant growth in revenue and
profitability since our investment in 2015, and we wish the company much
continued success under Vista’s ownership.”
Jefferies LLC served as the exclusive financial advisor to Black
Mountain, and Kramer Levin Naftalis & Frankel LLP was the company’s
legal advisor. SunTrust Robinson Humphrey acted as financial advisor to
Vista, and Kirkland & Ellis served as Vista’s legal advisor.
About Black Mountain Systems
Black Mountain is a software company that offers highly configurable
solutions including portfolio management, trade order management,
compliance, research management, investment accounting, performance
attribution, customer relationship management, investor reporting,
enterprise data management and data warehousing. Clients consist of many
of the world’s leading investment managers, credit funds, hedge funds,
private equity, direct lenders and banks who use the company’s platform
to manage all varieties of loans, fixed income, alternatives,
derivatives, equities, and FX. Black Mountain’s software can be
configured to model any business process, store any data, integrate with
any system, and provide transparency for all of the above in any format.
For more information about Black Mountain visit: www.blackmountainsystems.com
About Vista Equity Partners
Vista Equity Partners is a U.S.-based investment firm with offices in
Austin, Chicago, New York City, Oakland, and San Francisco and more than
$46 billion in cumulative capital commitments. Vista exclusively invests
in enterprise software, data, and technology-enabled organizations led
by world-class management teams. As a value-added investor with a
long-term perspective, Vista contributes professional expertise and
multi-level support towards companies to realize their full experience
in structuring technology-oriented transactions, and proven management
techniques that yield flexibility and opportunity. For more information,
please visit www.vistaequitypartners.com.
About Stone Point Capital
Stone Point Capital LLC is a financial services-focused private equity
firm based in Greenwich, CT. The firm has raised and managed seven
private equity funds – the Trident Funds – with aggregate committed
capital of approximately $19 billion. Stone Point targets investments in
companies in the global financial services industry, including asset and
wealth management; advisory, broker-dealers and merchant trading;
banking institutions; HR benefits and employer services; insurance
underwriting; insurance distribution and services; managed care and
healthcare services; outsourcing and technology; real estate finance and
services; and specialty finance and non-bank lending. For more
information, please visit www.stonepoint.com.
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