Ellucian focused on continued growth and innovation in higher education
Ellucian, the leading global provider for higher education software and services, today announced that TPG Capital (“TPG”) and Leonard Green Partners (“Leonard Green”) have entered into a definitive agreement to acquire a majority interest in Ellucian from Hellman & Friedman (“H&F”) and co-investor JMI Equity.
“We are delighted to welcome TPG and Leonard Green to the Ellucian team,” said Jeff Ray, chief executive officer of Ellucian, who will continue to lead the organization. “Their investment validates and enhances our growth strategy and underscores our commitment to our customers and the success of their students. We believe TPG and Leonard Green will be tremendous partners as we work to accelerate our cloud offering, enhance our student information systems, and broaden our product portfolio. We also would like to thank H&F for supporting our company’s growth over the past six years. We have enjoyed a strong partnership and look forward to building on our success for years to come.”
“Ellucian’s industry leadership, global reach, management depth, and deep vertical focus on enabling higher education institutions to leverage technology to improve student outcomes position the company well for continued success and growth,” said Bryan Taylor, partner at TPG. “TPG has been focused on software designed for specific end-market verticals for a number of years, and we’ve been impressed with the breadth and depth of Ellucian’s products. We are excited to leverage our experience and global resources to invest in and partner with this team to help them continue to grow their platform for their customers.”
“Ellucian has established itself as a leader in helping institutions support student success in the rapidly-evolving higher education landscape,” said John Danhakl, managing partner of Leonard Green. “We look forward to supporting this mission in the coming years.”
“Jeff and the Ellucian team have guided the company through a period of impressive growth and extensive investment in the product portfolio,” said Anupam Mishra, managing director of H&F. “We are excited about the meaningful impact Ellucian will continue to make on improving higher education globally. The company is truly unparalleled in its ability to do so.”
The transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close before the end of 2015.
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