Thoma Bravo to Acquire ABC Financial Services, Inc.

ABC Financial

Thoma Bravo, a leading private equity investment firm, announced it will acquire ABC Financial Services, Inc., a software and payment processing company servicing more than 6,700 health clubs throughout North America and Europe. The transaction is expected to close in the fourth quarter of 2017, subject to usual and customary closing conditions and regulatory approvals. Financial details of the transaction were not disclosed.

ABC Financial is the nation’s leading software and billing provider for the health and fitness industry. Its comprehensive software services include payment processing systems and advanced health club management tools, such as DataTrak, that allow gym owners and managers to track and manage memberships, member and employee schedules, other human resource functions and inventory control. ABC Financial is utilized by many of the top health clubs across the country, and its software has won numerous design and feature awards, such as Club Industry’s Best of the Best and IHRSA’s Vendor of the Year.

“The opportunity to partner with the leading software-focused private equity firm allows us to continue our mission of providing cutting-edge technology and top-quality customer service,” said Paul Schaller, president and CEO of ABC Financial. “Thoma Bravo’s support, experience and software expertise will help us continue our current success and expand our product offerings within the fast-growing wellness industry.”

Schaller added, “ABC Financial owes much of its present success to the legacy of our owner and founder, Jim Bottin, who supports our new partnership with Thoma Bravo. His vision, insight and experience over the past 36 years has allowed us to become the preferred software partner to the health and wellness industry.”

“We look forward to working with Paul and the ABC Financial management team to build the company’s innovative software, scalable billing capabilities and exceptional customer support,” said Scott Crabill, Managing Partner at Thoma Bravo. “Our partnership reflects the dynamic, exciting opportunities we see at ABC Financial and in the rapidly changing health and wellness landscape.”

ABC Financial has significantly increased its global presence over the past few years, expanding deeper into the growing health and wellness markets across the North America and Europe.

Jefferies LLC and Macquarie Capital are serving as exclusive financial advisors to Thoma Bravo, and Kirkland & Ellis LLP is serving as its legal advisor. Stephens Inc. is the exclusive financial advisor to ABC Financial and its legal advisor is Rose Law Firm. Financing for the transaction is being provided by Jefferies Finance LLC, Macquarie Capital and Antares Capital LP.

About Thoma Bravo, LLC

Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $17 billion in capital commitments, Thoma Bravo partners with a company’s management team to implement operating best practices, invest in growth initiatives and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. Representative past and present portfolio companies include industry leaders such as Blue Coat Systems, Deltek, Digital Insight, Global Healthcare Exchange, Hyland Software, iPipeline, PowerPlan, Qlik, Riverbed, SailPoint, SolarWinds, SonicWall, Sparta Systems and TravelClick. The firm has offices in San Francisco and Chicago.  For more information, visit www.thomabravo.com.

About ABC Financial

Launched in 1981, ABC Financial has revolutionized software and payment processing for the health and fitness industry.   Headquartered in the Little Rock, Ark. area, ABC Financial serves approximately 6,700 clubs throughout the United States, Canada, Puerto Rico, and Europe. The company’s innovative club management software, DataTrak, is the most complete web-based software in the health and fitness industry.  For more information, visit www.abcfinancial.com.

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