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Market leader in enterprise performance management and analytics solutions leverages new investments to pursue product innovation and broader set of client success initiatives

CHICAGOSyntellis Performance Solutions, LLC ("Syntellis"), a leading provider of enterprise performance management (EPM) software, data and analytics solutions, today announced the completion of the previously announced investments by funds affiliated with Thoma Bravo and Madison Dearborn Partners ("MDP").

Syntellis' goal is to provide powerful, integrated and intuitive EPM solutions that make it easy for its clients to acquire insights, accelerate decisions and advance their business plans. In doing so, Syntellis can enable those clients to elevate their organizational performance and transform their vision into reality. Syntellis, which was previously known as Kaufman Hall Software when part of Kaufman, Hall & Associates, LLC, brings together Axiom Software and the Connected Analytics capabilities recently acquired from Change Healthcare.

"Healthcare, higher education and financial institutions—some of society's most foundational institutions, making a difference in the communities they serve—are experiencing rapid transformation as a result of the COVID-19 pandemic and other factors," said Kermit S. Randa, chief executive officer of Syntellis. "With the support and expertise of two well-capitalized and experienced investors—Thoma Bravo and Madison Dearborn Partners—Syntellis is expanding strategic partnerships, product innovation, operational investments, and client services to support these institutions. After all, there isn't a community in the world that doesn't need these organizations to thrive right now, and well into the future."

Syntellis has recently advanced the needs of its clients through the launch of its Advantage Program, which helps clients maximize their software investment, announced a new relationship with Fiserv to further empower financial institutions, and released its 2020 Profitability Perspectives survey of senior finance professionals. Furthermore, Syntellis was recognized for its No. 1 ranking by Black Book Research for Axiom Cost Accounting and Decision Support, Axiom Comparative Analytics, and Axiom Contract Management, as well as for its outstanding performance in BPM Partners' 2020 Vendor Landscape Matrix.

"Now more than ever, Syntellis' cloud-based product suite is critical to how essential institutions will successfully navigate the new normal," said A.J. Rohde, a partner at Thoma Bravo. "We look forward to partnering with MDP and the Syntellis team and providing our capital and broad expertise in software to drive continued growth and innovation in a standalone Syntellis."

"We are pleased to partner with Thoma Bravo and continue working with Syntellis' leadership team," said Jason Shideler, a managing director at MDP. "We look forward to helping Syntellis become a formidable leader in the software sector through a singular focus on delivering performance-enhancing EPM solutions to clients around the world. As a standalone, software-focused company with our full support, Syntellis will be able to allocate resources and expertise to enhance its product roadmap and pursue product innovation for the benefit of its clients."

Deutsche Bank served as financial advisor to Syntellis and Kaufman Hall, and Kirkland & Ellis LLP served as legal counsel. Committed financing for the transaction was provided by funds managed by affiliates of BlackRock US Private Credit, Fortress Investment Group, The Private Credit Group of Goldman Sachs Asset Management, L.P., Pathway Capital Management, L.P. and Thoma Bravo Credit. Funds affiliated with MDP also will remain significant investors in Kaufman Hall.

About Syntellis Performance Solutions
Syntellis Performance Solutions, previously Kaufman Hall Software, provides innovative enterprise performance management software, data and analytics solutions for healthcare, higher education, and financial institutions. Syntellis' solutions include Axiom and Connected Analytics software, which help finance professionals elevate performance by acquiring insights, accelerating decisions, and advancing their business plans. With over 2,800 organizations and 450,000 users relying on its solutions, Syntellis has proven industry expertise in helping organizations transform their vision into reality. For more information, please visit www.syntellis.com.

About Madison Dearborn Partners, LLC
Madison Dearborn Partners, LLC (MDP) is a leading private equity investment firm based in Chicago. Since MDP's formation in 1992, the firm has raised aggregate capital of over $26 billion and has completed over 140 investments. MDP invests across five dedicated industry verticals, including health care; financial and transaction services; basic industries; business and government software and services; and telecom, media and technology services. For more information, please visit www.mdcp.com.

About Thoma Bravo
Thoma Bravo is a leading private equity firm focused on the software and technology-enabled services sectors. With a series of funds representing more than $45 billion in capital commitments, Thoma Bravo partners with a company's management team to implement operating best practices, invest in growth initiatives, and make accretive acquisitions intended to accelerate revenue and earnings, with the goal of increasing the value of the business. The firm has offices in San Francisco and Chicago. For more information, visit thomabravo.com