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Latham & Watkins Represents Lenders in Financing of Thoma Bravo’s US$2 Billion Acquisition of Instructure

April 17, 2020
Cross-office finance and tax team advises lenders in take-private of leading educational technology provider.

Thoma Bravo, a leading private equity firm focused on the software and technology-enabled services sectors, and Instructure, a major educational technology provider, have announced that they have completed a transaction in which Thoma Bravo has acquired Instructure in an all-cash transaction that valued the company at an aggregate equity value of approximately US$2 billion. With the completion of the acquisition, Instructure's common stock ceased trading and the company is no longer listed on the New York Stock Exchange.

Latham & Watkins advised Golub Capital Markets on the US$775 million term loan facility and US$50 million revolving credit facility in connection with the acquisition.

New York finance partner Alfred Xue led the Latham team that represented Golub Capital Markets in the financing, with associates Lillian Xiao, Sam Chaturvedi, and Angelika Ishkhanyan. Advice was also provided on tax matters by Chicago partner Diana Doyle, with associate Michael Zucker.