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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Ken Hutton named ISA Interim Executive Vice President

Hutton steps in from managing director of ISA.

ISA President Michael Carr announced today that Kenneth R. Hutton, former Managing Director of the Industrial Supply Association (ISA), has agreed to serve as interim Executive Vice President while ISA initiates a search for candidates to replace long-time ISA executive John Buckley, who passed away in February. Hutton assumed the interim role effective March 3, 2014.

“We have a great history with Ken and we’re very excited that he is available to help us through our transition to a new executive,” Carr said. “Ken is a very experienced professional and he is a perfect fit because of his work with ISA in the past. Together with our volunteer leaders, current staff and our management company partners at Fernley & Fernley, the officers and board members are confident the organization is in good hands. We look forward to a successful 2014 convention and to finding the right candidate to succeed our friend and colleague, John Buckley.”

In the interim capacity, Hutton will lead, direct, manage or support all functions of the association. He will serve as primary executive support and liaison to ISA Officers, and Board of Directors; represent ISA in external relations, including key industry coalitions and media; and assist in the search for ISA’s new Executive Vice President, among other duties.

Hutton brings 43 years of diverse industry experience to the interim position, having managed associations for over 25 years. He served 19 years as Executive Vice President for the Wood Machinery Manufacturers of America (WMMA) in addition to his prior role with ISA. Hutton was also a past Executive Director for the Association Management Company Institute (AMCI).

A graduate of Syracuse University with a B.S. in Chemical Engineering, Hutton also holds an M.B.A. from The Darden School at the University of Virginia. Hutton and his wife, Jeanne, have two adult daughters and three grandchildren. The couple resides in Kennett Square, Pa., where Hutton sits on a variety of boards for various community and church groups.

Learn more at www.isapartners.org