Apax partners to acquire epicor software and activant solutions. With kkr as new shareholder, exact will focus on further. The companies announced the deal monday, launching the latest merger attempt among vendors providing enterprise resource planning systems. London, july 11 reuters dutch software company exact holding is in sale talks with a series of private equity funds, including apax and kkr, in a deal to take the company private that could be. The sale ends a holding period of almost four years for apax, which acquired the company for an. Kkr agrees to exact software buyout from apax partners. Paul, weiss advised funds managed by kkr on an agreement in principle to acquire exact software, a leading provider of business and accounting software in the benelux region, from funds advised by apax partners. Exact is a leading provider of business and accounting software. Apax partners acquisition of eci software solutions global.
The company also operates out of six other offices in new york, hong kong, mumbai, tel aviv, munich and shanghai. Private equity major kkr has agreed to buy business and accounting software provider exact software from apex partners. Aug 14, 2017 exact softwares macola, jobboss and max businesses will be combined with eci current majority owner the carlyle group to continue as minority investor fort worth, tx and new yorkmonday, august 14, 2017 funds advised by apax partners apax funds today announced that they have reached a definitive agreement to acquire eci software solutions, a provider of enterprise resource. Based in the netherlands, exact is a business software provider. Software firm exact enjoys record year and aims to double. Aug 14, 2017 funds advised by apax partners apax funds today announced that they have reached a definitive agreement to acquire eci software solutions, a provider of enterprise resource planning erp software solutions to small and mediumsized businesses smb across the distribution, field services, building and construction and manufacturing industries. Current majority owner the carlyle group to continue as minority investor.
Aug 30, 2017 in conjunction with the buyout, apax will merge eci with exacts macola, jobboss and max segments, which are based in the us and also service smb manufacturers. Aug 14, 2017 apax funds has agreed to acquire fort worth, texasbased eci software solutions, a provider of enterprise resource planning software solutions for small and mediumsized companies in the. Concurrent with the deal, eci software will merge with exact softwares three erp businesses. Eci software solutions, a fort worthbased provider of enterprise resource planning erp software solutions to small and mediumsized businesses smb across the distribution, field services, building and construction and manufacturing industries, is being acquired by funds advised by apax partners. Aug 17, 2017 the fort worth, texasbased target serves the distribution, field services, building, construction and manufacturing industries with resource planning tools. The apax deal would combine activants erp solutions for retailers and distributors with epicors software for retail, manufacturing, distribution, hospitality and services. Exact will now initiate consultations with its works council. Apax software development software company lexington. It says that, together, these two transactions, based on current exchange rates, represent an uplift of. The carlyle group and level equity will retain a minority stake in the business. London, uk, and delft, the netherlands, 26 february 2019. This sees a return by the private equity company to the erp space.
Launch your business into the platformdriven economy. Acquisition financing has been arranged and underwritten by kkr. Kkr and management acquired exact software from apax partners. Apax exact announces recommended cash offer by funds. London, uk, and delft, the netherlands, 26 february 2019 funds advised by apax partners the apax funds have today announced an agreement in principle to sell their stake in exact software exact, a leading provider of business and accounting software in the benelux region, to kkr, a leading global investment firm.
Apax is currently purchasing dutch software company exact for 32 euros a share in cash, a premium of 27 percent to the firms closing share price on 10 july 2014. Apax partners closes buy of exact for 730 mln euros pe hub. Revolutionize your idea into a sleek mobile application that will put your business at your customers fingertips no matter what device they use. Accenture and apax partners to form joint venture to drive. Mar 04, 2019 euclid infotech ltd via comtex funds advised by apax partners the apax funds have announced an agreement in principle to sell their stake in exact software exact, a leading. Funds advised by apax partners to acquire eci software solutions exact software s macola, jobboss and max businesses will be combined with eci current majority owner the carlyle group to continue. Apax partners llp is a british private equity firm, headquartered in london, england. In a news release on thursday, exact said the apax funds planned to initiate an offer to acquire all of the companys stock for 32 euros a share. Exact has announced that kkr will acquire a controlling interest in exact. Apax still retains some of the investment it originally made as it restructured the company when it bought eci software solutions in 2017. The sellers are the carlyle group and level equity. Kkrs investment was made through its core investments. Eci premarkets debt package backing lbo, merger with.
Apax partners has completed its acquisition of exact for 730 million euros. Apax partners to acquire eci software solutions the. Up until february this year, exact was owned by private equity firm apax partners. Apax technology telecommunications tech investment. Annonces du bateau is a boat marketplace in france. Apax funds to buy eci software solutions from carlyle and. Under the wings of the british investor the dutch software player had the target to grow into a top 10 accounting and finance software player globally in the segment for midsized businesses.
Kkr to acquire exact software from funds advised by apax partners. The bid of 32 euros a share is 27 percent higher than exact s closing price on july 10. The transaction is subject to ordinary conditions to closing. Funds advised by apax partners to acquire eci software solutions. Apr 04, 2011 business software maker epicor this morning announced that it has agreed to be acquired by private equity firm apax partners. Tieto, apax among bidders for norwegian it firm evry.
Apax partners considerable international software expertise will enable exact to accelerate and expand its international growth strategy in cloud and scale up its portfolio of cloudbased business software. Moodys assigns first time b3 cfr to acquirer of eci in connection with lbo. Concurrent with this transaction, the macola, jobboss and max businesses of exact software a current apax funds portfolio company will be combined with eci. Dutch software firm exact holding said it had been approached by parties about a possible takeover, after reuters reported that private equity funds including apax apax. Upon closing of this merger, carlyle will retain a. Annonces du bateau allows people to buy, rent, or sell. Apax helps companies innovate and grow with custom software thats beautiful, reliable and easy to use. Press release kkr to acquire exact software from funds advised by apax. Fort worthbased software firm acquired by new york. Apax software development 348 e main st, lexington, kentucky 40507 rated 4. Exact expands product vision to include purchasetopay automation proquros market leading solution added to exact product lineup. Apax partners acquires software giants epicor, activant.
Apax apax partners private equity investment group fund. In a second announcement exact has announced that they have also sold their us erp businesses macola, jobboss and the max to apax partners. Kkr will buy the stake from funds advised by apax partners. Exact software, of delft, the netherlands, provides business and accounting software in the benelux region. Fort worthbased software firm acquired by new york private. Aug 14, 2017 apax funds acquisition of eci is the start of another exciting chapter in our history of supporting the growth of small and mediumsized businesses, said ron books, ceo of eci software solutions since 2009 and with the company for over 19 years. In conjunction with the deal, the macola, jobboss and max businesses of exact software, a portfolio company of apax funds, will merge with eci. Delft, november 1, 2018 exact, provider of the most comprehensive cloud financial and business management software portfolio for smes is expanding the breadth of its solution offerings with the acquisition of procurement software. Apax partners to acquire eci software solutions workflow. Concurrent with this transaction, the macola, jobboss and max businesses of exact. Funds advised by apax partners the apax funds have today announced an agreement in principle to sell their stake in exact software exact, a leading provider of business and accounting software in the benelux region, to kkr, a leading global investment firm. Kkr and management of exact software exact acquired exact from apax partners.
Apr 17, 2020 apax partners has sold its stake in dutch accounting software provider exact software to kkr. Apax kkr to acquire exact software from funds advised by. Funds advised by apax partners to acquire eci software. Apax exact announces recommended cash offer by funds advised. Exact develops cloudbased and onpremises software for industries such as accountancy, wholesale distribution, professional services and manufacturing, serving more than 400,000 companies. Apr 15, 2015 apax partners has completed its acquisition of exact for 730 million euros. Exact software, an existing apax portfolio company.
Business software maker epicor this morning announced that it has agreed to be acquired by private equity firm apax partners. Apax partners to acquire epicor software corporation and. Funds advised by apax will also support exacts strategy for its onpremises business software, particularly with the development of. Apax partners bought exact for 730 million in 2015. Funds advised by apax partners to acquire eci software solutions exact software s macola, jobboss and max businesses will be combined with eci. Oct 09, 2014 on termination of the merger protocol by funds advised by apax on account of a material breach of the merger protocol by exact, a competing offer having been accepted by exact, or the revocation, modification, qualification or amendment of the recommendation of the boards, exact will pay a termination fee of 1% of the offer value to funds. Kkr to acquire exact software from funds advised by apax. Exact sale of macola and merger with eci wont change macola. The companys integrated software suite includes financial management, logistics, crm, hr and payroll. The apax funds investment will accelerate this initiative as eci continues to provide bestofbreed, industryspecific functionality. Press release kkr to acquire exact software from funds advised by apax partners. Exact software will now consult with its works council. Apax partners to merge epicor, activant informationweek.
In conjunction with the buyout, apax will merge eci with exacts macola, jobboss and max segments, which are based in the us and also service smb manufacturers. London, july 11 reuters dutch software company exact holding is in sale. In a news release on thursday, exact said the apax funds planned to. May, 2019 i have been working at apax software fulltime pros strong culture, you get lots of autonomy on projects, the company has great relationships with its employeesclients, its a company that really cares and plugs you into the startuptech scene in lexington by being a part of awesome inc. Apax to shop stake in eci software solutions pe hub. Exact and funds advised by apax may terminate the merger protocol in the event that a bona fide third party makes an offer which, in the reasonable opinion of the board of managing directors and the supervisory board, is a substantially more beneficial offer than the apax funds offer, exceeds the offer price by 5%, and is launched or is binding on the offeror a.
Eci premarkets debt package backing lbo, merger with exact. Exact serves entrepreneurial businesses with information technology by delivering sophisticated business software solutions and high quality services. Exact will remain based in the netherlands following the acquisition. Combination of epicor and activant to create a global leader in business software solutions. Apax partners to sell exact software stake to kkr pe hub. Concurrent with this transaction, the macola, jobboss and max businesses of exact software a current apax. Upon close of the transaction, exact specialized solutions, a provider of erp software solutions for smb manufacturers in the us, will be combined with eci. Epicor, activant to be acquired in erp deal enterprise apps. Well work with you to mitigate risk, make smart tradeoffs and get the maximum value for your budget. Investors in technology, telecommunications, retail. Apax global alpha comments on sales of exact software and. Private equity investment group, apax partners, invest in leveraged and management buyouts, and growth capital. Acquisition financing has been arranged and underwritten by kkr capital markets.
European commission press release details page brussels, 16th march 2007 the european commission has approved under the eu merger regulation the proposed acquisition of joint control of capio ab, a swedish provider of healthcare services, by the private equity funds apax partners worldwide llp apw of the uk, apax partners sa apsa of france and nordic. Based in the netherlands, exact is a business software. Apax partners acquires software giants epicor, activant for. Exact and funds advised by apax may terminate the merger protocol in the event that a bona fide third party makes an offer which, in the reasonable opinion of the board of managing directors and the supervisory board, is a substantially more beneficial offer than the apax funds offer, exceeds the offer price by 5%, and is launched or is binding on the offeror a competing offer. Since 2007, weve made custom apps for more than 300 companies. The division will be acquired by private equity firm apax partners and merged with eci software solutions of fort worth, tx, under the leadership of eci management. Private equity investment group, apax partners, invest in leveraged and management buyouts, growth capital and late venture funds. Leading provider of reliable, innovative and scalable electronic peoplemonitoring technologies, providing an. This will be realised by autonomous growth, but also through merger. Kkr to acquire exact software from apax partners paul, weiss. Boats group, the tech business behind the largest online marketplaces for boats and yachts in the world, has acquired annonces du bateau from carboat media, the french leader in car, motorcycle and boat classifieds. During its ownership, assuredpartners has built a leading insurance brokerage. Exact sale of macola and merger with eci wont change. Apax viii also announced on 21 february 2019 that it has agreed to sell its entire stake in assuredpartners.
Aug 14, 2017 the sellers are the carlyle group and level equity. Apax global alpha has announced that the apax viii fund, in which it is a limited partner, has today announced an agreement in principle to sell exact software. Oct 10, 2014 finnish technology firm tieto and european private equity firm apax apax. The apax viii fund apax viii, in which aga is a limited partner, has today announced an agreement in principle to sell exact software. Aug 16, 2017 funds advised by apax partners apax funds has reached a definitive agreement to acquire eci software solutions, a provider of enterprise resource planning software solutions to small and mediumsized businesses across the distribution, field services, building and construction and manufacturing industries. Apax partners has sold its stake in dutch accounting software provider exact software to kkr. Epicor, activant to be acquired in erp deal enterprise. Exact is a dutch software company that offers accounting, erp, and other software for small and medium enterprises. Netherlandsbased software player exact looks back at a record year. Upon closing of this merger, carlyle will retain a minority ownership stake in the newly combined company. Apax partners to acquire epicor software corporation and activant solutions, inc. Apax partners considerable international software expertise will. Ul are among the bidders for evry, one of the nordic regions largest it services companies, four sources familiar with. Apr 18, 2016 accenture and apax partners to form joint venture to drive digital innovation in insurance software leading global private equity firm to acquire majority stake in accentures duck creek technologies business.
1141 1207 1396 1057 160 861 737 239 459 302 292 294 867 272 1443 962 1508 800 625 1116 1050 600 333 288 949 405 926 37 1326 87 170 1347 521 602 330 336 249 1177