Ellucian is getting two new majority owners

Fairfax-based software provider Ellucian is getting new majority owners, the company said Friday.

TPG Capital and Leonard Green Partners have entered into an agreement to acquire a majority interest in Ellucian from Hellman & Friedman and co-investor JMI Equity. Financial terms of the deal were not disclosed.

“Ellucian has established itself as a leader in helping institutions support student success in the rapidly-evolving higher education landscape,” John Danhakl, managing partner of Leonard Green, said in a statement. “We look forward to supporting this mission in the coming years.”

The transaction is subject to customary closing conditions and regulatory approvals. It is expected to close before the end of 2015.

Ellucian provides higher education software, services and analytics. It serves 2,400 institutions in 40 countries.

TPG is a major private investment firm with over $74 billion in assets. According to TPG’s website, its portfolio of companies includes Airbnb, Chobani and J. Crew.

Los Angeles-based Leonard Green also is a major private equity firms with over $15 billion of private equity capital. The firm has invested in 76 companies, including Petco, BJ’s Wholesale Club Inc. and The Container Store.