Epicor To Be Acquired By Investing Firm KKR

Nine days after the Wall Street Journal reported that Apax Partners was considering a sale of Epicor Software, Epicor announced Tuesday that is has agreed to be acquired by global investment firm KKR. Terms were not disclosed for the transaction, which is expected to close by the end of August.

Apax Partners, a London-based private equity firm, bought Epicor for about $1.04 billion in 2011 and eventually merged it with rival Activant Solutions. Apax tried selling Epicor in 2014 but ended up pulling out after turning down offers it deemed to low from bidders, some which were reportedly worth around $3 billion.

Epicor’s software assists manufacturing, distribution and retail businesses with sales and supply-chain management. It is one of the leading technology providers for distributors, with more than 7,000 distributors using its software, according to Epicor's website.

"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."

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