Private Equity Investment Helps Grow Slice of Silicon Valley in Ohio
Private equity firms invest in all types companies in states around the country and today Private Equity at Work has released a new video telling the story of Thoma Bravo’s strategic partnership with Cleveland, Ohio-based Hyland Software.
Cleveland may not come to mind as the typical headquarters for an innovative software company, but Hyland Software – referred to by as its founders as a “Silicon Valley in the Rust Belt” – has thrived in its Midwestern setting with the help of private equity. In 2007, Hyland Software realized the enterprise content management (ECM) software marketplace was consolidating and needed help to stay ahead of competitors. Hyland and Thoma Bravo formed a strategic partnership to grow the company, make acquisitions and integrate technologies. Since Thoma Bravo’s initial investment, Hyland has experienced significant growth and has doubled its number of employees to more than 1,300.
According to A.J. Hyland, president and CEO of Hyland Software, “It is unlikely that Hyland Software would be where we are today without private equity.”
Orlando Bravo, managing partner of Thoma Bravo said “Private equity is out there to improve corporate performance. Improving corporate performance involves evaluating and strategically enhancing all aspects of the corporation, including the customer base and employees, and doing so consistently over time.”
Some highlights of Thoma Bravo’s investment in Hyland Software include:
- Hyland has more than 1300 employees, double the amount it had less than five years ago. The company expects to hire 150 more by the end of 2012.
- Since its initial investment in 2007, Thoma Bravo has helped Hyland purchase five companies and grow revenue by $144 million.
- Hyland has increased its customer count by 4,000 customers to more than 10,800 lifetime customers since the investment.
