TestPlant, the maker of the eggPlant range of software quality tools, said that The Carlyle Group (NASDAQ: CG) has acquired a majority shareholding in the company.
Carlyle is investing in partnership with the existing management team, which will continue to build and support the innovative test solutions that have led to the company increasing its revenues ten-fold over the past five years.
The Carlyle Group is a global alternative asset manager with USD 188 billion of assets under management. TestPlant was founded in 2008 by CEO George Mackintosh and Chairman Jon Richards, with support from Seraphim Capital, a London-based venture capital firm. With Carlyle´s investment, Seraphim makes a successful exit from the business.
TestPlant´s eggPlant product range provides a suite of easy-to-use software test automation tools that helps companies deliver high quality enterprise and mobile applications quickly and consistently.
TestPlant is headquartered in London with development centers in the USA and UK, and sales and support centers in the USA, UK, Germany, China, India and Japan, as well as an extensive network of business partners. The company has more than 350 customers in over 40 countries across sectors including financial services, aerospace and defense, TMT, retail and healthcare.
TestPlant was advised on this transaction by Redwood Capital Group, LLC and Mishcon de Reya LLP.
The Carlyle Group is a global alternative asset manager with USD 188 billion of assets under management across 126 funds and 160 fund of funds vehicles as of September 30, 2015. The Group employs more than 1,700+ people in 35 offices across six continents.