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Aeris Partners Serves as the Exclusive Financial Advisor to Thoma Bravo and Exostar

Aeris Press Release / September 2023

BOSTON, MA and SAN FRANCISCO, CA (September 26, 2023) Aeris Partners is pleased to announce Exostar, LLC (“Exostar” or the “Company”), a market-leading provider of secure business collaboration software for highly-regulated industries, including aerospace and defense, life sciences and healthcare, has agreed to be acquired by Arlington Capital Partners (“ACP”). Exostar is a portfolio company of Thoma Bravo.

Aeris Partners served as the exclusive financial advisor to Thoma Bravo and Exostar.  Terms of the transaction were not disclosed.

Exostar is the trusted provider of mission-critical solutions for secure access, supply chain and secure collaboration to the world’s leading aerospace and defense, life sciences and healthcare enterprises.  Nearly 200,000 companies, operating in highly regulated industries and more than 150 countries, rely on the Exostar platform to help accelerate digital transformation and mitigate risks when engaging their global network of customers, partners and suppliers.

“Exostar’s secure access and supply chain solutions are integral to the day-to-day operations for its customers.” said Rahul Swani, Managing Director at Aeris Partners. “The Company’s platform addresses highly complex workflows required across the aerospace and defense, life sciences and healthcare markets to manage efficient and secure cross-company collaboration. It was a pleasure to advise Exostar and Thoma Bravo on the transaction, and we are excited for the Company’s next phase of growth.”

“Exostar’s secure, proprietary community of customers, partners and suppliers is truly unparalleled.” said David Joncas, Managing Director at Aeris Partners. “Exostar is well-positioned for continued long-term success and we were thrilled to have advised Thoma Bravo and Exostar on the transaction. We’re confident ACP will be a terrific partner to Exostar going forward.”

About Exostar

The Exostar Platform supports exclusive communities within highly regulated industries where organizations securely collaborate, share information, and operate compliantly. Within these communities, we build trust. Nearly 200,000 companies and agencies in 175 countries trust Exostar to strengthen security, reduce expenditures, raise productivity, and help them achieve their digital transformation initiatives. Nearly half of the Defense Industrial Base, including 98 of the top 100, transact business over The Exostar Platform.  Eleven of the top twenty global biopharmaceutical companies rely on The Exostar Platform to help them speed new medicines and therapies to market. Exostar is a Gartner Cool Vendor.

About Thoma Bravo

Thoma Bravo is one of the largest software investors in the world, with more than US$131 billion in assets under management as of June 30, 2023. Through its private equity, growth equity and credit strategies, the firm invests in growth-oriented, innovative companies operating in the software and technology sectors. Leveraging Thoma Bravo’s deep sector expertise and strategic and operational capabilities, the firm collaborates with its portfolio companies to implement operating best practices and drive growth initiatives. Over the past 20 years, the firm has acquired or invested in more than 440 companies representing over US$250 billion in enterprise value (including control and non-control investments). The firm has offices in Chicago, London, Miami, New York and San Francisco.

About Arlington Capital Partners

Arlington Capital Partners is a Washington, DC-based private equity firm that has managed approximately $7 billion in capital commitments. Arlington is focused on middle market investment opportunities in growth industries including aerospace & defense, government services and technology, healthcare, and business services and software. The firm’s professionals and network have a unique combination of operating and private equity experience that enable Arlington to be a value-added investor. Arlington invests in companies in partnership with high quality management teams that are motivated to establish and/or advance their company’s position as leading competitors in their field.

About Aeris Partners

Aeris Partners provides premium strategic M&A advisory services to best-in-class software and Software-as-a-Service (SaaS) companies, private equity investors and venture capital firms spanning a range of high-growth vertical markets including healthcare IT (HCIT), government (GovTech), education (EdTech), architecture, engineering and construction (AECO), financial technology (FinTech), energy & power (EnergyTech), analytics, transportation and logistics, and the public sector, among others. Aeris leverages extensive technology domain expertise and an unparalleled commitment to delivering superior M&A outcomes on every transaction. The firm’s senior leadership team has successfully completed more than $35 billion of M&A advisory assignments to date. For more information, please visit:

Aeris Partners LLC is a registered broker-dealer and member of FINRA and SIPC.