Solera, which provides business software used by auto insurers, dealerships, and fleet operators, filed on Friday with the SEC for an initial public offering. The company filed with a placeholder deal size; we estimate the IPO could raise up to $1.5 billion.
The company had previously traded on the NYSE until 2016, when Vista Equity Partners took the company private in a $6.5 billion buyout.
Solera's software solutions are sold to customers in over 120 countries, including insurers, vehicle repairers, manufacturers, auto dealers, and fleet operators. It operates through four distinct SaaS platforms: Vehicle Claims, Vehicle Repair, Vehicle Solutions, and Fleet Solutions. Its platforms help automate business-critical workflows related to claims processing, vehicle diagnostics and parts management, dealer management, and commercial fleet management.
The Westlake, TX-based company traces its roots to 1966, and booked $2.4 billion in revenue during the 12 months ended 3/31/2024. It plans to list on the NYSE under the symbol SLRA. Solera filed confidentially on September 17, 2021. Goldman Sachs, Morgan Stanley, BofA Securities, Jefferies, Citi, and RBC Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
