Thursday, February 12, 2015

Clearlake Capital Buys FrontRange Solutions

Santa Monica-based private equity investor Clearlake Capital said this morning that it has acquired enterprise service management software company FrontRange, and will merge it with another of its portfolio firms, Lumension. The newly merged company will be called HEAT Software. Financial details of the deal were not disclosed. Clearlake Capital said it received financing for the deal from Wells Fargo Capital Finance, PNC Bank, Capital One and Consortium Finance. Clearlake's John Ferron beccomes Chairman of the new company. FrontRange is based in Milpitas, California, with Lumension in Scottsdale, Arizona.