Shearman & Sterling advised FrontRange Holding Inc., a portfolio company of Francisco Partners LP, in its acquisition by Endpoint Intermediate, LLC, a subsidiary of Clearlake Capital Group LP. The transaction was completed on Feb. 19; the price and terms of the transaction were not disclosed.
FrontRange, headquartered in Milpitas, California, is a leading provider of Hybrid Service Management (ITSM & SaaS IT Service Management) and Client Management software solutions for organizations of all sizes. With its suite of HEAT applications, FrontRange is the only company in the world that provides, from a single platform, Service Management and Client Management/Unified Endpoint Management software on-premise and in the cloud.
Francisco Partners is a leading private equity firm focused exclusively on investments in technology and technology-enabled services businesses.
Endpoint Intermediate, LLC is a Delaware limited liability company indirectly recently formed by Clearlake for the purposes of acquiring FrontRange. Clearlake, a Delaware limited partnership, is a private investment firm focused on special situations and private equity investments such as corporate divestitures, recapitalizations, buyouts, reorganizations, turnarounds and other equity investments. Clearlake currently manages approximately $1.4 billion of equity capital.