Milana Vinn

In connection with the pending transaction, Hg will realize a 2.5x return on its initial investment.

Tom Spengler, PrimeGov’s Executive Chairman and the former CEO and co-founder of Granicus, will become CEO of the combined organization.

CBPE, advised by Arma Partners, first invested in the tech company in 2017.

The firm has hired William Blair to provide financial advice on the sale process, which is expected to kick off soon, sources said. 

Guggenheim Partners is advising the company on its sale process, which has now entered its second round, the people familiar said.

UBS is advising the company, whose software allows brands and retailers to collect and display several types of user-generated content on their e-commerce websites.

First-round bids for the company are due on March 12, sources said.

As part of the deal, TPG plans to combine Thycotic with Centrify, a company it bought from Thoma Bravo in January.

The pending acquisition values Galvanize at $1bn, a person familiar with the matter told PE Hub.

GTCR’s diligence has shown that by and large people still prefer in-person interactions with those who manage their assets and help make investment decisions.