Global Investment Firm KKR Acquires Epicor
AUSTIN, Texas — Epicor Software Corp., a global provider of industry-specific enterprise software to promote business growth, has entered into a definitive agreement to be acquired by the global investment firm KKR from funds advised by Apax Partners.
Epicor provides industry-specific solutions to customers in the manufacturing, distribution and retail sectors. These solutions are complemented by a team of industry experts who can provide knowledge of best practices for the industries that Epicor serves. With customers in more than 150 countries, Epicor provides solutions localized for specific markets.
“Our top priority continues to be delivering cloud-ready, market-leading solutions paired with a world-class customer experience,” said Joe Cowan, president and CEO of Epicor. “KKR shares our vision of providing innovative technology with a clear focus on helping customers grow business, not software.”
“KKR is very pleased to be partnering with Epicor to accelerate its next phase of global growth,” said Herald Chen, member of private equity and head of technology at KKR. “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.”
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. Our partnership with Epicor exemplifies Apax’s strategy of helping companies strengthen their leadership positions and accelerate their growth.”
The transaction is expected to close by the end of August, subject to customary conditions to closing, including regulatory approval.