Private equity is on a mission to convince the public that they create jobs.
In its latest installment of a months-long campaign, the industry is highlighting Thoma Bravo, which invested in a Cleveland-based software company called Hyland Software in 2007. In the five years since, the company’s headcount has doubled, said the Private Equity Growth Capital Council.
“The management team is exactly the same today, running a company nearly three times the size,” Orlando Bravo, managing partner of Thoma Bravo, says in the video.
The video, like the previous ones, is trying to improve the industry’s image, which has been tarnished in the current presidential race. Previous videos in the publicity campaign, “Private Equity at Work,” have focused on deals by K.K.R and the Blackstone Group.
The issue of job-creation in private equity has come up repeatedly in the campaign, with Mitt Romney saying he helped create thousands of jobs while running Bain Capital. Democrats have challenged that claim and others have pointed out that creating jobs isn’t the buyout industry’s primary goal.
Hyland seems pleased with its private equity deal. Members of management appear in the video, listing the benefits the company now enjoys. Bill Priemer, Hyland’s chief operating officer, says in the video that Hyland has purchased five companies since Thoma Bravo came on board.
“It’s unlikely that Hyland Software would be where we are today,” Mr. Priemer says, “without our private equity partner.”