01/30/2024
Citizens Advises Skuid on its Acquisition by Nintex
PROVIDENCE, RI – Citizens JMP Securities announced that it served as a financial advisor to Skuid, a low-code platform that allows operational leaders to rapidly design and develop business applications for their departments and teams, in its sale to Nintex, a TPG-backed workflow automation and process management platform.
Skuid is a leading cloud application development platform for building custom enterprise applications with consumer-grade UI/UX that increases user adoption and innovation without the need for custom code.
Nintex is the global standard for process intelligence and automation. Today, more than 8,000 public and private sector organizations across 90 countries turn to the Nintex Process Platform to accelerate progress on their digital transformation journeys by quickly and easily managing, automating and optimizing business processes.
“Our partnership with Citizens significantly contributed to the transaction’s success,” said Skuid Chief Executive Officer Ryan Niemann. “The team’s in-depth expertise in the software sector, combined with a robust network of potential buyers, proved instrumental in navigating the intricacies of the deal. This collaboration is a testament to our strategic partnership and achieving outstanding results.”
This transaction highlights Citizens’ expertise in advising infrastructure software companies despite a particularly challenging environment, as well as its strong track record of working on sponsor-backed transactions.
Citizens Managing Director and Head of Technology Investment Banking Kevin McClelland said, “We believe Skuid will accelerate its growth by partnering with Nintex and its financial backers TPG and Thoma Bravo.”
Citizens combines sector intelligence with a client-focused approach to realize our clients' true value. The Citizens team has more than 100 M&A professionals specializing in a range of industries across the United States. Citizens JMP Securities, LLC, is a subsidiary of Citizens Financial Group (NYSE: CFG).
About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $222.0 billion in assets as of December 31, 2023. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,200 ATMs and approximately 1,100 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X (formerly Twitter), LinkedIn or Facebook.
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