Santa Monica-Based Clearlake Capital Backs Perforce’s Buy of Rogue Wave

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Santa Monica-based private equity firm Clearlake Capital helped back a portfolio company’s purchase of Rogue Wave Software in Colorado.

Clearlake’s Minneapolis-based Perforce Software, which develops software used for application development, purchased Louisville, Colo.-based Rogue Wave Software, a provider of software developer tools.

Terms of the transaction were not disclosed. The acquisition is expected to close in early February.

This is the sixth acquisition by Perforce in the last two years since embarking on an aggressive growth strategy to expand its portfolio.

“This transformational acquisition further expands our global footprint and broadens our offerings,” said Perforce CEO Mark Ties. “Together with Rogue Wave, Perforce will continue to drive value for enterprises that value scalability, speed and security.”

Financing for the acquisition was led by Chicago-based Antares Capital.

The so-called joint lead arrangers, or underwriters who led the group of investors in this syndicated loan, included New York City-based firms Ares Capital Management, AB Private Credit Investors, PennantPark Investment Advisers and Varagon Capital Partners.

Charlotte, N.C.-based Barings Finance also was in this group.

Clearlake’s core target sectors are software and technology services; industrials and energy; and consumer. Clearlake has managed more than $8 billion of institutional capital since its 2006 inception.

Finance reporter Pat Maio can be reached at [email protected] or (323) 556-8329.

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