NewSpring Successfully Exits Portfolio Company EnterpriseDB
June 27, 2019
Radnor, PA – June 27, 2019 – NewSpring (the “Firm”), a family of private equity strategies, announced today that NewSpring Growth (“NewSpring”), the Firm’s dedicated growth and expansion strategy, has successfully exited EnterpriseDB, a developer of Postgres software, due to an acquisition by financial sponsor, Great Hill Partners.
With over 4,000 global customers, EnterpriseDB is the top developer of Postgres software for the enterprise. Customers use EnterpriseDB software to handle large-scale transaction processing, customer analytics, data warehousing, and web-based applications. The Company’s portfolio of multi-cloud and on-premises Postgres performance, scalability, security, management tools, and Oracle database compatibility have contributed to Postgres’ stunning market growth within the enterprise.
Throughout the term of NewSpring’s investment, EnterpriseDB has grown significantly year over year with 37 consecutive quarters of subscription growth. DB-Engines.com named Postgres “Database of the Year” in 2018 for the second consecutive year as it has increased in popularity more than any of the other 300-plus monitored systems.
“This acquisition comes at a time when the Postgres market is exploding,” said Ed Boyajian, President and CEO of EnterpriseDB. “We have accomplished so much since the NewSpring transaction; their exceptional support and guidance played an integral role in getting us to where we are today.”
“We have really enjoyed working with Ed and his management team over the past four and a half years,” said Marc Lederman, NewSpring Partner and EnterpriseDB Board member. “We pride ourselves on working with innovative, industry-transforming companies, and EnterpriseDB is no exception. With sophisticated cloud database services, the Company is well-positioned to address the rapidly shifting data management market and we look forward to tracking their future growth and success.”
Jefferies served as exclusive financial advisor to EnterpriseDB in connection with this transaction. Additionally, Canaccord Genuity Group provided strategic support.
EnterpriseDB (EDB), the enterprise Postgres company, delivers an open source-based data management platform, optimized for greater scalability, security, and reliability. EDB Postgres makes organizations smarter while reducing risk and complexity with enterprise-proven management tools, security enhancements and Oracle compatibility. Over 4,000 customers worldwide deploy diverse workloads including transaction processing, data warehousing, customer analytics and web-based applications, both on premise and in the cloud. EnterpriseDB is based in Bedford, Massachusetts. For more information, visit www.EnterpriseDB.com.