Simpson Thacher is representing Ellucian and its controlling equityholder, Hellman & Friedman LLC, in connection with the sale of a majority stake in Ellucian to TPG Capital, L.P. and Leonard Green & Partners, L.P. The transaction is subject to customary closing conditions, including receipt of regulatory approvals, and is expected to close before the end of 2015. The financial terms of the transaction were not announced.
Ellucian provides software and services to more than 2,400 educational institutions in 40 countries worldwide. Ellucian provides student information systems, finance and HR, recruiting, retention, analytics and advancement software solutions. With more than 1,500 institutions subscribing to Ellucian’s cloud services and SaaS offerings, the company is one of the largest providers of cloud-based solutions.
The Simpson Thacher team working on the transaction includes Chad Skinner, Atif Azher, Justin Yi, Austen Heim, Aditi Sherikar, Colin Lloyd and Meredith Pressfield (M&A); Brian Steinhardt and Eli Isak (Banking and Credit); Bill Brentani (Capital Markets); Marcela Robledo, Michelle Morad and Linda Nyberg (Intellectual Property); Jason Vollbracht and Judy Yan (Tax); David Rubinsky, Linda Barrett and Eric Wolf (Executive Compensation and Employee Benefits); Tim Mulvihill (Environmental); and Peter Thomas, Ellen Frye and Bill Kearney (Competition). Summer Associates Blake Meyer and Brent Stewart also provided valuable assistance in the transaction.