Epicor announces sale to KKR

Epicor Software Corporation signed a deal to be acquired by the global investment firm KKR .

Financial terms of the transaction, made with funds advised by Apax Partners, were not disclosed.

Epicor provides industry-specific solutions to customers in the manufacturing, distribution, and retail sectors, including hardware and LBM.

“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. This is an exciting time for Epicor, and I am extremely appreciative of Apax’s support during the last five years.”

Cowan continued, “We are 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.”

KKR has a track record of supporting technology companies, having invested more than $14 billion of equity in 60 companies across software, internet, media and IT infrastructure since 2000. Recent examples include: Go Daddy, Mitchell, Get Your Guide and Clicktale.

“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.”

The transaction is expected to close by the end of August, subject to customary conditions to closing, including regulatory approval.