Unit4, a provider of enterprise cloud software for people-centric organizations, is to receive a majority investment from TA Associates.
Partners Group will invest alongside TA. Mike Ettling, CEO of Unit4, will continue to lead the company, supported by the existing management team.
Advent International, the current majority shareholder in Unit4, will exit its stake in the company.
The transaction is expected to close in early summer of 2021 pending customary regulatory approvals and closing conditions.
Unit4 and TA will partner to further accelerate the company’s vision of people-centric Enterprise Resource Planning for mid-market enterprise organizations.
Led by Mike Ettling, CEO, Unit4 provides cloud ERP, HCM and FP&A solutions to people-focused mid-market services organizations. The company serves more than 6,000 customers in industries including professional services, public sector, nonprofit, and education.