Elemica Acquired by Thoma Bravo: First Take Analysis [PRO]

Elemica takasu/Adobe Stock

Earlier Tuesday, private equity firm Thoma Bravo, which also owns healthcare procurement and supply chain technology provider GHX, announced it will be acquiring Elemica, a solution and platform-as-a-service (PaaS) provider that was one of the last “captive” investments left over from the initial B2B marketplace era. Elemica started as an industry consortium electronic marketplace (e.g., chemicals, plastics, rubber, energy) and largely existed to provide technology and solutions (e.g., sourcing services) as a shared service to its owners.

As we noted in our initial coverage of the announcement, private equity firms appear to be circling the procurement market. The deal is most similar to the Insight Venture Partners acquisition of E2open and also comes on the heels of the recent announcement that Accel-KKR will be acquiring SciQuest, which itself started as an electronic marketplace of life sciences supplies.

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