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Ares-Led Lender Group Arranges $835M Private Credit Loan for Warburg Pincus’ Acquisition of Raptor Technologies
A lender group led by Ares has arranged an $835 million private credit package backing Warburg Pincus’ acquisition of school safety software developer Raptor Technologies from Thoma Bravo, according to sources.
Raptor’s financing includes a $585 million term loan, $175 million delayed-draw term loan and a $75 million RCF with pricing at SOFR+450 bps, according to sources. 26North, Thoma Bravo Credit, Neuberger Berman and Cliffwater are additional lenders in the group.
Thoma Bravo announced in November 2025 that it would sell Raptor to Warurg Pincus, according to a press release. JMI Equity, a longstanding partner and investor in Raptor, will reinvest alongside Warburg Pincus, the release said. Financial terms were not disclosed. The transaction is expected to close in January 2026.
Houston, TX-based Raptor acquired CPOMS, a U.K.-based school safety software company, in 2021, according to a press release. The acquisition was made following strategic investments in Raptor by Thoma Bravo and JMI Equity. The financial terms of the deal were not disclosed.
A Warburg Pincus and Permira-led investor group recently agreed to acquire Clearwater Analytics for $8.4 billion in December 2025.
Ares is an existing BDC creditor to Raptor with the firm holding a first lien 2028 loan priced at SOFR+525 bps, according to Octus’ BDC Database. The company’s CLO holders can be found in Octus’ CLO Database HERE.
Ares, Warburg Pincus and Cliffwater declined to comment. 26North, Thoma Bravo, Neuberger Berman and Raptor did not respond to requests for comment.
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