Turn/River Capital has agreed to acquire and take private Tufin


Tufin (NYSE: TUFN) simplifies management of some of the largest, most complex networks in the world, consisting of thousands of firewall and network devices and emerging hybrid cloud infrastructures. Enterprises select the Tufin Orchestration Suite™ to increase agility despite ever-changing business demands while reducing costs, ensuring compliance with regulations and internal policies and maintaining a robust security posture. A single solution designed to meet the needs of both network and cloud security teams, the Tufin Orchestration Suite™ reduces the attack surface and meets the need for greater visibility into secure and reliable application connectivity. With over 2,000 customers since its inception, Tufin’s network security automation enables enterprises to implement accurate changes in minutes instead of days, while improving their security posture and business agility.

The Deal

Tufin, a company pioneering a policy-centric approach to security and information technology operations, has announced that it has entered into a definitive agreement to be acquired by Turn/River Capital, a software-focused investment firm, in an all-cash transaction that values Tufin at approximately $570 million. Upon completion of the transaction, Tufin will become a private company. The transaction is expected to close in the second quarter of 2022.

Our Perspective

Justin May, Managing Director in Lincoln’s Capital Advisory Group, commented, “We are excited to have worked with the Turn/River team again on such a noteworthy transaction. We continue to see strong support in the market for annual recurring revenue (ARR) lending facilities to leading software businesses like Tufin and look forward to a successful partnership between Turn/River and Tufin.” Don More, Managing Director in Lincoln’s Technology, Media & Telecom Group, added, “Our advisory role in Turn/River’s acquisition of Tufin exemplifies the value of Lincoln’s industry expertise in cybersecurity, which continues to be a highly attractive space for knowledgeable investors.”

Turn/River Capital

Turn/River Capital is a San Francisco-based software investment firm purpose-built for software growth. It offers flexible capital and tailored, data-driven operational support for growth capital, founder liquidity, buyouts, spinouts and recapitalizations. Built by a team of software operators and investors who have scaled sales, marketing, customer success and talent, Turn/River’s playbooks reliably and rapidly unlock transformational growth, producing market-leading companies and building lasting value.

Turn River Tufin 2022 Connect with a Senior Team Member
We appreciate Lincoln's guidance through this complex transaction that involves the acquisition of a public entity with operations across multiple jurisdictions. The Lincoln team understood the importance of this transaction for both Turn/River and Tufin. We are excited to begin our partnership with Tufin as we look to drive growth and scale for the business.
Matt Amico
Principal at Turn/River Capital

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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.