PDFTron Announces Strategic Growth Investment from Thoma Bravo
Excerpt: Thoma Bravo’s investment is expected to drive increased innovation within PDFTron’s document processing technology platform and accelerate the company’s growth trajectory in the document processing market. PDFTron will benefit from the operating capabilities, capital support, and deep sector expertise of Thoma Bravo – one of the most experienced and successful software investors in the world.
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VANCOUVER, BC and SAN FRANCISCO, Calif. – May 21, 2021 – PDFTron Systems Inc., the world’s leading provider of document technology solutions for software developers, today announced a strategic growth investment from Thoma Bravo, a leading private equity investment firm focused on the software sector. Thoma Bravo’s investment is expected to drive increased innovation within PDFTron’s document processing technology platform and accelerate the company’s growth trajectory in the document processing market. Existing investors Silversmith Capital Partners and the PDFTron management team will remain significant shareholders.
According to Stax Inc., an independent strategy consulting firm, the B2B Document Processing market represents a total addressable market (TAM) of about $22 billion and is still in the early innings of commercial adoption with strong growth expected over the next several years. PDFTron is well positioned to capitalize on the continued digital transformation of document processing given the strength, speed, and breadth of its multi-platform feature set. According to Stax, “PDFTron has differentiated itself from its competitors in its ability to perform strongly and consistently across all platforms, its superior processing speed / performance, and its ability to support many file types.”
“PDFTron has demonstrated impressive growth in a market that will only become more critical as businesses accelerate the digitization of documents and workflows,” said A.J. Rohde, a Senior Partner at Thoma Bravo. “We are excited to support PDFTron’s continued investment in its platform, both organically and inorganically, and to leverage our software expertise to position the company for future growth.”
Jim Quagliaroli, Managing Partner of Silversmith, noted, “Since partnering with PDFTron as the company’s first institutional investor in 2019, we have been impressed with the extraordinary momentum the business has achieved. Under Catherine and Ivan’s leadership, the company has expanded product capabilities and executed on five strategic acquisitions, contributing to revenue increasing by more than 4x over the past two years. PDFTron has cemented its position as the leading provider of document processing tools for software developers, and we’re excited to partner with the Thoma Bravo team as the company enters a new phase of growth.”
PDFTron is being advised on the transaction by AGC Partners and Choate, Hall & Stewart LLP. Thoma Bravo is being advised by Kirkland & Ellis LLP.
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