Radnor, PA, July 8, 2019 – Milestone Partners (“Milestone”) is pleased to announce the sale of EnterpriseDB (the “Company”) to Great Hill Partners on June 21, 2019. Financial terms of the transaction were not disclosed. Milestone co-led the acquisition in December 2014 and were pleased to have brought in various value-added co-investors.
With over 4,000 global customers, EnterpriseDB is a 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.
EnterpriseDB experienced consistent revenue growth and recognition during Milestone Partners IV, L.P.’s ownership, including:
- More than doubled revenue and tripled Annual Recurring Revenue (“ARR”)
- Experienced its 37th consecutive quarter of ARR growth
- Recognized in the Gartner Magic Quadrant for Operational Database Management Systems for the sixth consecutive year in 2018
- Recognized by DB-Engines.com as Postgres “Database of the Year” for the second consecutive year in 2018
Milestone partner and former EnterpriseDB board member Paul Slaats commented, “It was a pleasure to work with Ed Boyajian and the EnterpriseDB team to realize a shared vision. Milestone felt from the outset that we were partnering with a strong management team and a proven technology platform, and we worked closely with the team and board of directors to execute on numerous growth initiatives.”
Ed Boyajian, president and CEO of EnterpriseDB, added, “Milestone’s support of EnterpriseDB, both in terms of capital and strategic guidance, positioned the Company to expand and capitalize on the favorable trends in the Postgres market over the last several years and to propel the Company to the market leader status that we’re proud to occupy today.”
Jefferies served as exclusive financial advisor to EnterpriseDB in connection with this transaction. Additionally, Canaccord Genuity Group provided strategic support.
EnterpriseDB (EDB) (www.enterprisedb.com), 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.
Milestone Partners (www.milestonepartners.com) is a private equity firm that partners with management to invest in leveraged buyouts and recapitalizations of lower middle market businesses. Milestone pursues companies in tech-enabled services, software, financial services and manufacturing sectors. Based in suburban Philadelphia, Milestone was founded in 1995 and is currently investing in new platforms out of its fourth fund.