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Private equity firm Thomas H. Lee Partners (THL) is acquiring Alfresco Software, the provider of enterprise content management and business process management software.

The transaction is subject to customary closing conditions and regulatory approvals, and is expected to close this quarter. Terms of the transaction were not disclosed.

Sydney Sloan, Alfresco’s CMO, tells Channel Partners this is a “very exciting time” for her company and its partners.

Alfresco’s Sydney Sloan

“The THL team has a great track record and lots of experience growing companies, and we look forward to working with them to enhance our ability to capture more customers and revenue in our market,” she said. “Our commitment to our partners does not change. Our focus on powering digital transformation in the ECM and BPM markets with open, modern, cloud-native technology stays the same. THL is excited about the growth in these markets and Alfresco’s leadership position; and our partners remain a strategic part of our go to market, customer success, and growth.”

Alfresco’s offerings allow clients to retain, manage and share documents, files and processes across cloud, mobile, hybrid and on-premises environments. The company has customers in more than 195 countries.

“Partners have always been a critical component of Alfresco’s go-to-market and will continue to be,” Sloan said. “This news has the potential to impact the growth of the Alfresco partner ecosystem. Partners who have built industry specific offerings or complementary technology capabilities should be excited about this announcement.”

THL has raised more than $22 billion in equity capital and invested in more than 140 portfolio companies with an aggregate value of more than $150 billion. It invests in growth-oriented businesses, headquartered primarily in North America, across four sectors: business and financial services; consumer and retail; health care; and media, information services and technology.

“Alfresco is an innovative leader in content management and process automation solutions, operating in a large, underserved market,” said Laura Grattan, managing director at THL. “Their modern, cloud-native platform is the preferred technology for companies that are carrying out successful digital transformations, making this a highly attractive investment opportunity for THL. Alfresco has an outstanding reputation for enabling customers to collaborate more effectively, optimize business processes and strengthen compliance, and we look forward to working closely with their talented team to help the company execute its go-forward strategy and accelerate growth.