Blackstone to acquire majority stake in Priority Software

Private Equity Wire

Blackstone Growth and affiliated funds will acquire a majority stake in business software provider Priority Software from private equity firms TA Associates and Fortissimo Capital, who are both retiring a minority interest in the business.

According to a press statement, Blackstone’s investment will help build on the company’s position at the forefront of the ERP software market and support its further growth across industries and markets.

Priority Software offers business applications and ERP solutions across retail management, hospitality and education through cloud-based applications. The company employs around 500 people across five offices in Israel, the US and Belgium.

Evercore acted as financial advisor and Goodwin and Gornitzky provided legal counsel to Priority, Fortissimo and TA. Kirkland & Ellis and Meitar provided legal counsel to Blackstone. Terms of the transaction have not been disclosed.

The full article is available here. This article was published at Private Equity Wire.