Private equity firm Thoma Bravo, San Francisco, announced on Nov. 8 that it will acquire software and payment-processing company ABC Financial Services, Inc., Sherwood, Arkansas, in the fourth quarter of 2017. The acquisition price was not disclosed.
ABC Financial was founded in 1981 and services approximately 6,700 health clubs throughout the United States, Canada, Puerto Rico and Europe with its club management software, DataTrak.
“The opportunity to partner with the leading software-focused private equity firm allows us to continue our mission of providing cutting-edge technology and top-quality customer service,” ABC Financial CEO Paul Schaller said in a media release provided to Club Industry. “Thoma Bravo’s support, experience and software expertise will help us continue our current success and expand our product offerings within the fast-growing wellness industry.”
Thoma Bravo's portfolio represents more than $17 billion in capital investments, primarily in technology-enabled services sectors.
“We look forward to working with Paul and the ABC Financial management team to build the company’s innovative software, scalable billing capabilities and exceptional customer support,” Thoma Bravo partner Scott Crabill said in the release. “Our partnership reflects the dynamic, exciting opportunities we see at ABC Financial and in the rapidly changing health and wellness landscape.”
ABC Financial Corporate Marketing Director Jennifer Hutchinson told Club Industry it will continue to be "business as usual" at the company, which will "maintain the same level of customer service and professionalism you have come to love from us in the past."