New Mountain, After 7-Year Hold, Expects to Hit Jackpot on $1.1B Deltek Deal

For New Mountain Capital, good things come to those who wait seven years. Fellow buyout shop Thoma Bravo announced today that it has agreed to buy Deltek, a provider of enterprise software and information solutions, in a take-private deal valued at $1.1 billion. The transaction is expected to close in the fourth quarter. While it’s unclear how well New Mountain did on the deal, the PE firm will easily make back more than the $220 million in total that it invested. 

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