STATEMENT
Wednesday 2 September 2020
On Monday 31 August, Epicor Software Corporation announced that they have been acquired by private equity firm Clayton, Dubilier & Rice (CD&R).
Epicor had been under the ownership of leading global investment firm KKR for the past four years. The news marks the biggest software sale of 2020 to date, with the transaction valued at 4.7 billion.
Epicor CEO Steve Murphy described the day of the confirmed acquisition as “an exciting day for the entire Epicor family—employees, customers, and partners alike”.
“We welcome this new partnership with CD&R, which shares our vision for growing the company, and I thank KKR for a highly successful partnership these past few years. We are excited to work with CD&R to increase investment in our market-leading product portfolio and to enhance our ability to support an ever-increasing range of customer needs,” he said.
More details are included in Epicor’s full press release about the sale.
As one of Epicor’s largest and most respected international partners, this is an exciting change for us too.
Precise Business Solutions’ Managing Director Mark Batina shared his thoughts on our social channels on Tuesday morning:
“Nothing stays the same for long in the world of private equity! There’s been a bit of speculation in recent times that KKR might be looking to exit their investment in Epicor – and in that private equity environment the reality is anything in the portfolio is up for sale if the time is right, the price is right and the conditions are right.
KKR helped lift the Epicor platforms to their next generation and level of performance, and I’m really excited to see a new owner who plans to ramp that investment even further,” he said.
CD&R are known for having most of their investments in manufacturing, distribution, healthcare and retail, so they come with an intimate understanding of what Epicor and their partner’s customers do, need and want.
We are looking forward to, as Epicor has alluded to already, an accelerated focus on product development and an even further dive into the industries that we and Epicor serve.
We see this as a positive step forward, and as we hear more from Epicor, we will be sure to pass on any information to our own customers and partners. In the meantime, we encourage them to reach out to us with any questions.
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