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STG Partners, LLC
STG Partners
Company typePrivate
IndustryPrivate equity
PredecessorSymphony Technology Group (2002-2017)
Founded2017; 8 years ago (2017)
FounderWilliam "Bill" Chisholm
Headquarters1300 El Camino Real, Suite 300, Menlo Park, California, U.S.
Key people
Bill Chisholm, managing partner[1]
Stephen Henkenmeier, managing director and CFO[2]
AUM$11.7 billion (2024)[3]
OwnerBill Chisholm (50% ownership)
Number of employees
70[3]
Websitestg.com

STG Partners, LLC (STG) is an American private equity firm and based in Menlo Park, California.[4] Its predecessor, Symphony Technology Group ("Symphony") was founded in 2002[2] by Romesh Wadhwani, who recruited William Chisholm and Bryan Taylor to join him in the founding of Symphony. In 2017, Symphony was renamed STG Partners.[2]

History

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In 2002, Romesh Wadhwani invited William "Bill" Chisholm to join a new private equity firm, Symphony Technology Group (Symphony), as a senior investment partner.[5][6] Bryan Taylor was also a co-founder of Symphony,[7] and remained at the firm until 2004.[8]

In 2017, Wadhwani retired as Symphony's CEO, and the firm was renamed STG Partners (STG).[2][5][9] Chisholm assumed the chief executive role, and is the majority owner of STG.[5][10] Stephen Henkenmeier is STG's managing director and chief financial officer.[2] It is estimated that STG has assets under management of $11.7 billion.[3]

Acquisitions

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Symphony acquired McGraw-Hill Construction from McGraw-Hill Financial for US$320 million on September 22, 2014.[11] The acquisition includes Engineering News-Record, Architectural Record, Dodge and Sweet's.[12] McGraw-Hill Construction has been renamed Dodge Data & Analytics.[13]

On February 17, 2020, Dell Technologies sold its RSA Security business to a group led by STG in an all-cash transaction for $2.075 billion.[14]

In March 2021, STG acquired McAfee Enterprise for $4 billion.[15] On June 2, 2021, FireEye announced the sale of key software technologies to Symphony for $1.2 billion, while retaining the services business under the Mandiant name. FireEye bought Mandiant for around the same price.[16] On January 18, 2022, Symphony announced the launch of Trellix, an extended detection and response company, which is a combination of FireEye and the McAfee enterprise business.[17] In January 2022, STG announced the McAfee Enterprise security service edge (SSE) business would operate as a separate company to be known as Skyhigh Security. The cloud security company is headquartered in San Jose, California, and led by CEO Gee Rittenhouse.[18]

On January 5, 2022, EFI split off its software business, creating eProductivity Software, which was sold to STG.[19]

In March 2023, a private equity consortium led by STG agreed to acquire Momentive Global Inc. formerly SurveyMonkey, an experience management company, based in San Mateo, California, in an all-cash deal valued at $1.5 billion,[20][21][22] and rebranded it back to SurveyMonkey.

On July 7, 2023, Wrike, a work management platform, announced it was being acquired by STG for an undisclosed amount. The transaction was completed later that month.[23]

On August 9, 2023, STG announced it was acquiring Avid (a Burlington, Mass.-based company that makes Sibelius, Pro Tools, Media Composer, and other products for the audio, video, and media industries) in a $1.4 billion deal. The deal was completed in November of that year.[24]

Divestments

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References

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  1. ^ "Who We Are". Symphony Technology Group. Retrieved March 20, 2025.
  2. ^ a b c d e Dorbian, Iris (July 1, 2024). STG Rising: Hailing the Newcomer on the 100. Buyouts.
  3. ^ a b c AUM13F (March 29, 2024). $12 billion STG Partners, LLC. CRD: 291048. SEC: 801-112130. AUM $11.7 BB.
  4. ^ "Company website". Retrieved 2022-04-11.
  5. ^ a b c Dolan, Kerry A. (March 2025). The Little Known Billionaire Buying The Boston Celtics. Forbes.
  6. ^ Forbes (August 20, 2009). Private Equity Done Right. see "William Chisholm, who has worked for Wadhwani for seven years, recalls how the Saturday before the deal closed he was summoned to his boss' home."
  7. ^ Bryan Taylor. Advent.
  8. ^ McNully, John (February 5, 2019). New Head of Tech at Advent. Private Equity Professional.
  9. ^ STG Partners (November 16, 2020). TG raises $2.0 billion for STG VI in a four-month fully virtual fundraise. see "About STG Partners: STG and its predecessor, Symphony Technology Group ('Symphony'), …"
  10. ^ O'Connell, Robert (March 2025). He Just the Boston Celtics -- and No One Knows Anything About Him. Wall Street Journal.
  11. ^ Staley, Eddie (September 22, 2014). "McGraw Hill Financial To Sell McGraw Hill Construction To Symphony Technology Group For $320M In Cash". Benzinga. Retrieved April 30, 2015.
  12. ^ "McGraw Hill Sells ENR and Construction Group to Equity Investor | 2014-09-22 | ENR | Engineering News-Record". www.enr.com.
  13. ^ Maidenberg, Micah (December 14, 2014). "Best year since 2008 for construction industry". Crain's Chicago Business. Dodge Data & Analytics, a data provider formerly known as McGraw-Hill Construction
  14. ^ "Dell Sells RSA to Consortium Led by Symphony Technology Group". techcrunch.com. 18 February 2020. Retrieved February 15, 2022.
  15. ^ "McAfee Enterprise and FireEye are now called Trellix". ZDNet. Retrieved February 15, 2022.
  16. ^ "FireEye Announces Sale of FireEye Products Business to Symphony Technology Group for $1.2 Billion". FireEye. 2021-06-02.
  17. ^ "McAfee Enterprise and FireEye combo is now Trellix". itworldcanada.com. 27 January 2022. Retrieved February 15, 2022.
  18. ^ "McAfee Enterprise cloud security biz relaunches as Skyhigh". venturebeat.com. 22 March 2022. Retrieved July 12, 2022.
  19. ^ https://www.prnewswire.com/in/news-releases/eproductivity-software-becomes-an-independent-company-after-being-acquired-by-symphony-technology-group-stg-from-electronics-for-imaging-efi--818728536.html, Archived 2022-01-05 at the Wayback Machine
  20. ^ Mathews, Eva (13 March 2023). "SurveyMonkey owner Momentive Global to be taken private in $1.5 bln deal". Reuters.
  21. ^ Dorbian, Iris (2023-06-01). "STG-led investor group completes take-private $1.5bn acquisition of Momentive". PE Hub. Retrieved 2024-06-06.
  22. ^ "Paul Hastings Has a Strong Summer on Market Leading Transactions | Paul Hastings LLP". www.paulhastings.com. Retrieved 2024-06-06.
  23. ^ Dorbian, Iris (July 10, 2023). "STG Completes Buyout of Work Management Platform Wrike". PE Hub. Retrieved August 7, 2024.
  24. ^ Giardina, Carolyn (November 7, 2023). "Private Equity Firm STG Completes Acquisition of Avid for $1.4B". The Hollywood Reporter. Retrieved August 7, 2024.
  25. ^ "Harman acquires Romesh Wadhwani group's Symphony Teleca for $780mn". Business Standard. January 24, 2015.
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