GEC NEWS WIREEpicor Software Corporation recently entered into a definitive agreement to be acquired by the global investment firm KKR from funds advised by Apax Partners. Financial terms of the transaction were not disclosed.
“KKR shares our vision of providing innovative technology with a clear focus on helping customers grow business, not software. This is an exciting time for Epicor, and I am extremely appreciative of Apax’s support during the last five years.” said Joe Cowan, president and CEO of Epicor.
“KKR is very pleased to be partnering with Epicor to accelerate its next phase of global growth. Through a world-class Epicor team, leading cloud-ready technologies and a keen focus on its customers, the company is in tremendous position to build on its long history of success.” said Herald Chen, Member of Private Equity and Head of Technology at KKR.
Jason Wright, a Partner at Apax Partners, said, “We are proud of our collaboration with Epicor to build one of the largest global providers of enterprise applications differentiated by a focus on the customer and deep industry expertise.”
KKR is primarily making the investment from its eleventh Americas Private Equity investment fund. Morgan Stanley & Co. LLC and RBC Capital Markets served as financial advisors to KKR on the transaction. BofA Merrill Lynch and UBS Investment Bank served as financial advisors to Epicor. The transaction is expected to close by the end of August, subject to customary conditions to closing, including regulatory approval.
