PE Deals

PE portfolio firms Condeco and iOffice + SpaceIQ join to create Eptura

Thoma Bravo and JMI Equity will serve as primary investors in Eptura.

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  • Kirkland & Ellis LLP served as legal counsel to Thoma Bravo on the deal while Goodwin Procter served as legal counsel to JMI Equity
  • Brandon Holden, CEO of iOffice + SpaceIQ, will become CEO of Eptura
  • Paul Statham, founder and CEO of Condeco, joins Eptura’s board of directors and will continue working with Thoma Bravo

Condeco, a provider of workspace scheduling software, and iOffice + SpaceIQ, a workplace and asset management company, have merged to form Eptura. The newly formed company will provide software solutions to power the modern workplace.

The merger follows previously announced investments in Condeco and iOffice + SpaceIQ by Thoma Bravo and JMI Equity, which will remain the primary investors in Eptura. No financial terms were disclosed.

Brandon Holden, CEO of iOffice + SpaceIQ, will serve as CEO of Eptura. Paul Statham, founder and CEO of Condeco, joins Eptura’s board of directors and will continue working with Thoma Bravo. Headquartered in Atlanta, Georgia and with large regional offices in London, UK and Melbourne, Australia, Eptura has more than 1,000 employees across the globe, 16.3 million users and a customer base spanning more than 16,000 of the world’s leading companies.

“We have been lucky enough to be partners to both iOffice + SpaceIQ and Condeco for over a year now, and combining these two great companies creates the clear category leader for the modern workplace,” said AJ Rohde, a senior partner at Thoma Bravo, in a statement. “The level of innovation the company can drive for customers will be very exciting, and we are thrilled for Eptura to begin that journey.”

Kirkland & Ellis LLP served as legal counsel to Thoma Bravo, while Goodwin Procter served as legal counsel to JMI Equity.

Thoma Bravo has more than $122 billion in assets under management as of 30 June, 2022. The firm invests in the software and technology sectors.

JMI Equity backs software companies. Founded in 1992, JMI has invested in more than 175 businesses in its target markets, successfully completed over 110 exits, and raised more than $7.5 billion of committed capital.

Condeco is headquartered in London.