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Arlington Capital Strikes Deal With Thoma Bravo for Exostar; Ben Ramundo Quoted

Private equity firm Arlington Capital Partners has agreed to purchase secure business collaboration platforms provider Exostar from software investment firm Thoma Bravo for an undisclosed sum.

Washington, D.C.-based Arlington will help Exostar further expand its service offerings, drive product development and advance growth initiatives through the transaction, which is expected to be finalized by the end of 2023, the companies said in a joint release published Tuesday.

Exostar supports nearly 200,000 aerospace and defense, life sciences and health care organizations in their digital transformation efforts through its portfolio of products designed to help them facilitate sharing of sensitive data and perform business transactions across multi-tiered networks.

“Exostar plays a critical role in securely facilitating supply chain transactions and broader collaboration between the largest aerospace, defense and healthcare firms and each of their supply bases,” said Ben Ramundo, a principal at Arlington Capital Partners. 

“We look forward to strengthening that network even further by building upon management’s impressive accomplishments under Thoma Bravo’s stewardship,” added Ramundo.

The latest transaction, which is subject to regulatory clearances and other customary closing conditions, came three years after Thoma Bravo acquired Exostar.

Gibson, Dunn & Crutcher and Shea & Co. respectively served as legal and financial advisers to Arlington Capital Partners. Thoma Bravo’s legal counsel in the deal was Kirkland & Ellis, while Aeris Partners acted as the investor’s exclusive financial adviser.

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