Madison Dearborn Partners has agreed to purchase a controlling interest in government procurement software provider Unison from global investment firm Carlyle (Nasdaq: CG) for an undisclosed sum.
The transaction is expected to be completed in the third quarter of 2022 and the investment will help Unison advance its growth initiatives and expand its software offerings, the companies said in a joint release published Tuesday.
Dulles, Virginia-based Unison has been offering contract management, supply chain and procurement software to U.S. federal agencies and government contractors since 1983. The company has supported 15 U.S. cabinet-level agencies and more than 200,000 end users through its software products.
Unison CEO Reid Jackson said MDP will bring experience and additional financial resources that will enable the company to meet customers’ evolving requirements by delivering software products and accelerating growth efforts.
“MDP’s track record of successful partnerships with vertical enterprise software, procurement and supply chain, and government services and technology companies will greatly benefit Unison as we enter this pivotal new chapter in Unison’s history,” he added.
Unison’s management team will remain with the company in their current roles and Carlyle will keep a minority stake in Unison.
Baird serves as exclusive financial adviser and Latham & Watkins acts as legal counsel to Unison and Carlyle. The two companies also receive financial advisory services from PwC in the transaction.
Lincoln International acts as MDP’s exclusive financial adviser, while Kirkland & Ellis and Crowell & Moring serve as legal counsel to the Chicago-based private equity investment firm. Antares Capital has provided committed financing to the transaction.