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Pamlico Capital Announces Sale of T2 Systems, Inc.

Sep 29, 2016

Pamlico Capital (“Pamlico”), a leading middle market private equity firm focused on growth oriented businesses, announced today that Thoma Bravo, LLC has acquired T2 Systems, Inc. (“T2 Systems” or the “Company”). Terms of the transaction have not been disclosed.

Headquartered in Indianapolis, IN, T2 Systems is a leading provider of parking management technology, including SaaS-based software, services, and hardware to universities, municipalities, and private operators. Pamlico acquired T2 Systems in September 2011 in partnership with management. Over the last five years, Pamlico helped to build out an impressive management team, adding key members like Adam Blake (President and COO), and complete two strategic acquisitions that broadened the Company’s product portfolio and expanded its addressable market. Management did a tremendous job integrating the acquisitions and generating impressive revenue growth of 25% per year.

“Pamlico was great. They helped us achieve our strategic growth initiatives and pushed us to enhance our product capabilities,” said Mike Simmons, T2 Systems Co-Founder and CEO. “We have truly enjoyed our partnership with Pamlico and want to thank them for their support.”

“Our relationship with Mike Simmons and the T2 team are another example of why Pamlico loves founder owned investment opportunities. We really enjoyed working with the team and appreciate how successfully they scaled the business during our ownership,” said Walker Simmons, a Partner at Pamlico.

“T2 Systems was a great investment for Pamlico, our limited partners, and most importantly the T2 management team. The Company is well positioned in their market and will continue to capitalize on additional growth opportunities under Thoma Bravo’s ownership,” said Eric Wilkins, a Partner at Pamlico.

The sale of T2 Systems represents Pamlico’s fourth exit in 2016, including prior sales of Clear Link Technologies, LLC, Physicians Endoscopy, LLC, and DAXKO, Inc. T2 Systems and Pamlico were advised by William Blair & Company LLC (financial advisor) and Alston & Bird LLP (legal advisor). Goodwin Procter LLP served as Thoma Bravo’s legal advisor.

  • About Pamlico
  • About T2 Systems

About Pamlico

Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: digital infrastructure, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of over $3.5 billion. For additional information, please visit