Market Overview

KKR Sells Epicor Software In $4.7B Deal

KKR Sells Epicor Software In $4.7B Deal

KKR & Co. Inc. (NYSE: KKR) announced Monday that it is selling Epicor Software Corporation to private equity firm Clayton, Dubilier & Rice in a transaction valued at $4.7 billion.

The deal is expected to close later this later, and at that point Clayton, Dubilier & Rice operating partner Jeff Hawn will serve as chairman of the Epicor Board, the companies said. 

KKR bought Epicor in 2016 from Apax Partners for a reported $3.3 billion

"Epicor's reputation for quality and performance, and its impressive portfolio of next-generation cloud products, position the company well to accelerate growth in the coming years," Hawn said in a statement.

"We look forward to partnering with the Epicor management team to further expand Epicor's product portfolio as well as make strategic acquisitions to meet customers' evolving digital transformation needs." 

KKR & Co is an investment firm. It manages multiple alternative asset classes, including private equity, energy, infrastructure, real estate, and credit, with strategic partners that manage hedge funds. The company generates revenue from fees, performance income, and investment income. Geographically, it has a presence in Asia-Pacific; Americas and Europe and the Middle East.

Epicor Software Corporation is a business software company based in Austin, Texas. The company was founded in 1972. Its products are aimed at the manufacturing, distribution, retail and services industries.

KKR shares were trading 1.28% higher to $35.38 premarket Monday. 

Related Link: KKR To Sell KCF Technologies To SKC For $1B


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Posted-In: Clayton Dubilier & Rice Epicor SoftwareM&A News Best of Benzinga

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