Community Brands Is Now Momentive Software
Community Brands, a provider of cloud-based software, services and payment solutions, announced that TA Associates (“TA”), a global growth private equity firm, will acquire its Association & Events (“A&E”) and Nonprofit Solutions divisions to create a new strategic platform, Momentive Software. The new company will be led by Mike Henricks as interim CEO and enterprise software industry-veteran, Mike Mayoras as Executive Chairman.
Founded in 2017, Community Brands has been at the industry forefront in delivering cloud-based business operations software and payment solutions to accelerate the missions of associations, nonprofits, social good organizations, and the communities those customers serve. The company’s portfolio of software and services enhances membership management and engagement, drives revenue and streamlines processes for mission-driven organizations of all sizes. Additionally, the company offers market-leading fund accounting and fundraising solutions that are purpose-built to automate business processes and track mission progress, resulting in greater community impact.
The name change to Momentive Software is inspired by customers and reflects a sharpened focus on the unique needs of social good organizations. It better articulates the company’s dedication to helping these organizations streamline business processes and heighten funding awareness to fuel mission growth. Additional details surrounding the brand rollout are forthcoming.
“We are thrilled to be partnering with Mike Henricks, Mike Mayoras and all of the talented team members at Momentive Software to further accelerate the company’s market leadership. We have been impressed with Momentive’s strong business foundation and with its highly knowledgeable and experienced team that has a passion for supporting customers who are important pillars in their communities,” said Hythem El-Nazer, Managing Director with TA. “We see a tremendous opportunity for growth and look forward to supporting the new Momentive and uncovering opportunities that fuel product innovation and increase the value Momentive can deliver to its more than 30,000 customers across 30 countries. In recognition of the passion Momentive Software employees have towards the causes they enable, TA will be offering employee ownership at all levels.”
TA’s investment in Momentive will strengthen the company’s ability to expand its global footprint to deliver modern solutions at scale, continuing its promise to deliver thoughtful and impactful integrations that drive more value to customers.
“We are fortunate to have found the right partner in TA at exactly the right time in our business transformation. We are excited to embark on this next phase of our journey with TA given their long-standing commitment to growth acceleration and track record of success. This milestone provides a major catalyst to increase our impact across the thousands of purpose-driven organizations we currently serve globally,” said Mike Henricks, interim CEO of Momentive. “This partnership will help fuel innovation and greater collaboration across our solution portfolio so our customers can streamline operations, increase revenue and accelerate progress toward their missions.”
“I am privileged and excited to join Momentive Software and work alongside Mike Henricks, the thousands of committed employee team members and TA, to enable the business to reach its full potential. I’ve been impressed with many things over the last few months but what stands out the most is the level of passion and commitment that the Momentive team has for its customers and their communities,” said Mike Mayoras, Executive Chairman of Momentive. “Furthermore, I share TA’s commitment to growth acceleration and look forward to supporting the business in its next chapter.”
Guggenheim Partners, Baird, and Shea & Company served as financial advisors to TA on the transaction. Ropes & Gray LLP served as legal adviser to TA. Raymond James served as financial advisor and Willkie Farr & Gallagher LLP served as legal advisor for Community Brands. Financial terms of the transaction were not disclosed.
The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within do not directly reflect the thoughts or opinions of the staff of NonProfit PRO.
