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Latham & Watkins Advises Lenders in Financing of Thoma Bravo’s Acquisition of RealPage, Inc.

April 22, 2021
Finance team represented lenders in take-private of the global provider of software and data analytics to the real estate industry.

RealPage, Inc., a leading global provider of software and data analytics to the real estate industry, has completed its acquisition by Thoma Bravo, a leading private equity investment firm focused on the software sector, in an all-cash transaction that valued RealPage at approximately US$10.2 billion, including net debt. The acquisition was previously announced on December 21, 2020, and RealPage’s stockholders voted their shares in favor of the transaction on March 8, 2021.

Latham & Watkins advised a syndicate of international investment banks on a first lien term loan, revolving credit facility, and second lien term facility totaling US$4 billion provided in connection with the acquisition.

The first lien lenders were advised by New York finance partner Alfred Xue, with associates Victor Ludwig, Lillian Xiao, and Beste Bozkurt Egel-Weiss. The second lien lenders were advised by New York finance partners Chris Plaut and David Teh, with counsel Bryce Schunke and associate Natasha Graham. Finance advice was also provided by Houston partner Pamela Kellet, with associates Christopher Wood and Whitley Johnson. New York partner Jiyeon Lee-Lim and associate Ted Gkoo advised on tax matters.