Audax Private Equity Completes the Sale of Rogue Wave Software to Perforce

Audax Private Equity (Audax), in partnership with management, has completed the sale of Rogue Wave Software (Rogue Wave) to Perforce Software, Inc. (Perforce) a Clearlake Capital portfolio company.

Headquartered in Louisville, CO, Rogue Wave is a leading provider of software development tools and code components to Global 5000 enterprises, helping developers tackle the hardest and most complex issues in building, connecting and securing applications. Rogue Waves product offering solves problems across a broad portion of the software development lifecycle, spanning Open Source Support, API management, Java Development, and other key focus areas for developers. Known for its commitment to help developers innovate with confidence, Rogue Wave serves over 5,600 customers globally, including 250+ of the Fortune 500.

Geoffrey S. Rehnert, Co-Chief Executive Officer of Audax Group, said The Rogue Wave team has transformed the business from a provider of code components to a comprehensive platform providing developer tools and solutions for software engineers. We wish continued success for Brian and his team as they enter the next stage of growth with Perforce.

Brian Pierce, Chief Executive Officer of Rogue Wave, said Audax has been a valuable partner in helping us transform Rogue Wave through organic growth and acquisitions. We are well positioned to augment Perforces product offering and bring a compelling combined portfolio to our customers. We look forward to partnering with Perforce to continue that work, and drive positive outcomes for our customers, the industry, our employees, and our shareholders.

Terms of the transaction were not disclosed. Kirkland & Ellis, LLP served as legal advisor and William Blair, LLC and Shea & Company, LLC served as financial advisors to Rogue Wave. Cooley, LLP served as legal advisor to Perforce.


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Audax Group is a leading alternative investment manager with offices in Boston, New York, and San Francisco. Since its founding in 1999, the firm has raised over $23 billion in capital across its Private Equity and Private Debt businesses. Audax Private Equity has invested over $5 billion in 120 platforms and 743 add-on companies. Through its disciplined Buy & Build approach, Audax seeks to help platform companies execute add-on acquisitions that fuel revenue growth, optimize operations, and significantly increase equity value. With more than 220 employees and over 100 investment professionals, the firm is a leading capital partner for North American middle market companies. For more information, visit the Audax Group website


Rogue Wave helps thousands of global enterprise customers tackle the hardest and most complex issues in building, connecting, and securing applications. Since 1989, our platforms, tools, components, and support have been used across the financial services, technology, healthcare, government, entertainment, and manufacturing industries, to deliver value and reduce risk. From API management, web and mobile, embeddable analytics, static and dynamic analysis to open source support, we have the software essentials to innovate with confidence. Based in Louisville, CO, Rogue Wave serves over 5,600 customers globally, including 250+ of the Fortune 500. For more information, please visit

Audax Group
Geoffrey S. Rehnert, Co-Chief Executive Officer – (617)

Rogue Wave
Brian Pierce, Chief Executive
Officer – (303) 545-3210