Fri, Oct 21, 2016 | updated 06:03 AM IST

Investment firm KKR acquires `Epicor Software Corporation`

Updated: Jul 08, 2016 13:02 IST
New Delhi, July 8 (ANI): Global provider of industry-specific enterprise software to promote business growth Epicor Software Corporation announced its 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. The industry-specific solutions are complemented by a team of industry experts that 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 so that as a company expands geographically, Epicor can help facilitate that growth.

"Our top priority continues to be delivering cloud-ready, market-leading solutions paired with a world-class customer experience," said President and CEO of Epicor, Joe Cowan.

"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," added Joe Cowan.

He added that the company is eager to work with KKR and believe their capabilities in the technology sector, both domestically and internationally, will enable us to find new ways to create value.

"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. Through its unwavering focus on driving growth for its customers, Epicor, led by President and CEO Joe Cowan, grew organically and also expanded through strategic acquisitions," said a partner with Apax Partners, Jason Wright.

KKR is primarily making the investment from its eleventh Americas Private Equity investment fund. Morgan Stanley and 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. (ANI)