December 21, 2023 | Technology | North America | Ended

Alteryx / Clearlake Capital Group: Deal Insight

Alteryx, a cloud data analytics software provider, has entered into an agreement to be taken private by financial sponsors Clearlake Capital Group (“Clearlake”) and Insight Partners (“Insight”). The terms of the deal, announced on 18-Dec-23, involve the private equity firms offering target shareholders $48.25 per share, a 58.8% premium to Alteryx’s undisturbed price on 5-Sep-23, before Reuters reported that the company was exploring a sale in response to takeover interest. The all-cash offer extends to both Class A (one vote per share) and Class B shares (not listed, 10 votes per share). The takeover has been approved by an independent special committee of Alteryx’s board, and, in alignment with their recommendation, the Alteryx board has also given its approval. Conditions to closing include Alteryx shareholder approval (majority of voting power), which appears mostly procedural given that co-founder and executive chairman Dean Stoecker, who holds 49% of Alteryx’s voting power, has committed to supporting the deal through a voting agreement. Notably, the deal does not require ...

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