Frisco, TX – September 10, 2024 – Redwood Software (“Redwood”), a leader in automation fabric solutions, today announced that it has agreed to be acquired by funds affiliated with Vista Equity Partners (“Vista”), a global investment firm focused exclusively on enterprise software, data and technology-enabled businesses, and Warburg Pincus, a leading global growth investor. Terms of the transaction were not disclosed; the transaction is subject to customary conditions and approvals.
Redwood’s automation fabric solutions help customers compose, orchestrate and manage business and IT business processes across any application, service or server with confidence and control. In June, Redwood announced that it had added over 1,000 new customers since mid-2023 while consistently delivering above ‘Rule of 60’ financial performance. Redwood currently serves more than 7,500 customers globally, including 28% of the Fortune 500 and 40% of the Fortune 50.
“We are honored to join forces with Vista Equity Partners and Warburg Pincus. The wisdom, experience and operating expertise of these two leading global technology investors will accelerate our vision to unleash human potential through the transformative power of automation,” said Kevin Greene, Redwood Software CEO. “We are excited to embark on the next chapter of the Redwood Software story – where every IT and business process that can be automated, will be automated, and where automation fabrics will change everything about how and why people work.”
“Redwood’s easy-to-use and highly integrated automation solutions help enterprises automate the critical workflows which power their core commercial and IT operations,” said Steven White, Managing Director at Vista Equity Partners. “We are excited to partner with Redwood and Warburg Pincus to deliver even more customer value and efficiency as the demand for automation solutions capable of spanning multiple data, application and cloud environments continues to accelerate.”
“As a leading next generation enterprise automation platform, Redwood enables businesses to streamline and optimize their mission-critical business processes, an essential service as enterprise IT becomes increasingly complex. We believe that Redwood is well-positioned to capture the growth in the market given the company’s strong capabilities in business and IT automation and are excited to continue investing in Redwood’s innovative solutions both organically and through strategic M&A,” said Parag Gupta, Managing Director, Warburg Pincus. “We look forward to the partnership with Redwood and Vista in this next phase of growth.”
“It has been our privilege to support Redwood on its remarkable journey as it continues to build one of the leading automation software companies in the world,” noted Matthew Amico, Partner at Turn/River Capital. “Throughout our partnership, Redwood has experienced significant growth, and with its strong set of automation products and exceptional team led by Kevin Greene, we believe strongly that the best is yet to come.”
Goldman Sachs & Co. LLC is serving as exclusive financial advisor to Redwood; Orrick, Herrington & Sutcliffe LLP is serving as legal counsel to Turn/River Capital and Redwood. Kirkland & Ellis LLP is serving as legal counsel to Vista. Cleary Gottlieb Steen & Hamilton LLP is serving as legal advisor to Warburg Pincus.
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About Redwood Software
Redwood Software is the leader in full stack automation fabric solutions for mission-critical business processes. With the first SaaS-based composable automation platform specifically built for ERP, we believe in the transformative power of automation. Our unparalleled solutions empower you to orchestrate, manage and monitor your workflows across any application, service or server — in the cloud or on premises — with confidence and control. Redwood’s global team of automation experts and customer success engineers provide solutions and world-class support designed to give you the freedom and time to imagine and define your future. Get out of the weeds and see the forest, with Redwood Software. For more information, visit www.redwood.com. Follow Redwood Software on LinkedIn, @Redwood Software.
About Vista Equity Partners
Vista is a leading global investment firm with more than $100 billion in assets under management as of March 31, 2024. The firm exclusively invests in enterprise software, data and technology-enabled organizations across private equity, permanent capital, credit and public equity strategies, bringing an approach that prioritizes creating enduring market value for the benefit of its global ecosystem of investors, companies, customers and employees. Vista’s investments are anchored by a sizable long-term capital base, experience in structuring technology-oriented transactions and proven, flexible management techniques that drive sustainable growth. Vista believes the transformative power of technology is the key to an even better future – a healthier planet, a smarter economy, a diverse and inclusive community and a broader path to prosperity. Further information is available at vistaequitypartners.com. Follow Vista on LinkedIn, @Vista Equity Partners, and on Twitter, @Vista_Equity.
About Warburg Pincus
Warburg Pincus LLC is the oldest private equity firm and a leading global growth investor. The firm has more than $83 billion in assets under management. The firm’s active portfolio of more than 225 companies is highly diversified by stage, sector, and geography. Warburg Pincus is an experienced partner to management teams seeking to build durable companies with sustainable value. Since its founding in 1966, Warburg Pincus has invested more than $117 billion in over 1,000 companies globally across its private equity, real estate, and capital solutions strategies. The firm is headquartered in New York with offices in Amsterdam, Beijing, Berlin, Hong Kong, Houston, London, Luxembourg, Mumbai, Mauritius, San Francisco, São Paulo, Shanghai, and Singapore. For more information, please visit www.warburgpincus.com. Follow us on LinkedIn.
About Turn/River
Turn/River Capital is a lower middle market private equity firm that uses a proprietary growth engineering strategy to drive revenue acceleration and build enduring value. Turn/River partners with B2B software companies and provide data-driven methods, hands-on operational support and flexible capital to catalyze the next phase of growth. The firm’s team of equal software operators and investors have firsthand experience scaling go-to-market and solving its challenges. Founded in 2012 in San Francisco, Turn/River invests globally with a particular focus in North America and Europe. For more information, visit www.turnriver.com.
Media Contacts
For Redwood Software
Liz Reilly
(401) 525-1775
For Vista Equity Partners
Brian Steel
media@vistaequitypartners.com
(212) 804-9170
For Warburg Pincus
Kerrie Cohen
kerrie.cohen@warburgpincus.com
(917) 887-9184
For Turn/River
Katie Duckhorn
(901) 832-0680
