Bellevue-based automation company Nintex plans to sell a majority stake of the company to a new investor, TPG Capital.
TPG, an investment firm with $108 billion in assets under management, has invested in Acorns, Hotwire.com and Petco.
Nintex CEO Eric Johnson said the deal, which is expected to close by the end of the year, will help the company grow faster. Current majority investor Thoma Bravo will stay involved in Nintex by making a new investment to maintain a significant minority stake.
"(TPG) is very growth focused," Johnson said. "They're looking to accelerate organic growth, say 5% to 7%, and support large-scale acquisitions. We as a team are super excited about that."
Johnson added that Nintex currently has 850 total employees and over 70 open positions. On its website, the company has open roles in engineering, marketing and sales.
Nintex helps clients manage and automate work processes. For example, the company offers digital forms, electronic signatures and collaboration tools.
Nintex has more than 10,000 clients across 90 countries, according to the company. It acquired the electronic signature company AssureSign in June. Nintex didn't disclose the financial terms of the deal. Johnson said the company plans to launch the integrated product gained from that acquisition in January.
Johnson added that it's hard to say whether the company has any acquisitions on the immediate horizon because Nintex is always competing for different acquisitions, but the company doesn't know whether its bids will actually close the deals. Johnson did say, however, he would be surprised if Nintex doesn't close at least one acquisition in the next nine months.
Nintex has roughly 180 employees in the Puget Sound region, Johnson said, and the company has moved to a remote-first model where employees will likely come into the office about one day a week when it's safer to do so. Nintex previously had two floors in the U.S. Bank Plaza in downtown Bellevue but is now subleasing one of its floors to EagleView Technologies.
"Even when we come back bigger, we have plenty of space," Johnson said. "With our new work model, if we double our headcount in the Puget Sound region, we would still have enough office space."
