Warburg Pincus invests in TA Associates-backed Procare Software

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Warburg Pincus has made a strategic investment in integrated child care management business Procare Software, alongside a bolt-on acquisition by the company.

Founded in 1992, Procare provides business management software, integrated tuition payment processing, parent engagement tools, hardware and data hosting to child-centred businesses and organisations.

Private equity firm TA Associates invested in the business in 2015 and will retain remain a significant investor in the business alongside its management team.

The company has also agreed to buy Cirrus Group, an online software-as-a-service provider for childcare centres, school districts and community education centres.

Warburg managing director Chandler Reedy said, “We look forward to partnering with Procare’s leadership team and TA Associates to make significant investments in building on the company’s many strengths, by continuing to improve the product experience for customers as well as aggressively pursuing other organic and inorganic growth opportunities.”

Last month Warburg agreed to buy Leumi Card from Bank Leumi and Azrieli Group in a deal valued at NIS 2.5bn ($684m).

Back in 2015, the global buyout house’s oversubscribed twelfth fund also closed significantly above its $12bn hard cap.

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