Thomas H. Lee Partners, a US private equity firm investing in middle market growth companies, will acquire Alfresco Software, a leading enterprise open-source provider of process automation, content management, and information governance software.

Founded in 2005 and headquartered in San Mateo, California and Maidenhead, United Kingdom, Alfresco provides enterprise content management solutions used by over 11 million people at industry-leading organisations in 195 countries worldwide.

“We are thrilled about the opportunity to partner with THL – a firm with an impressive track record of growing successful technology and information services businesses,” said Doug Dennerline, Alfresco’s Chief Executive Officer.

“With THL’s deep industry experience, operational expertise, and strategic guidance, we will be well positioned to expand our platform, build on our space in the enterprise content management and business process automation markets, and continue providing customers with the best-in-class service they have come to know and expect.”

The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in the first quarter of 2018. Terms of the transaction were not disclosed.