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Epicor sold in $4.7bn deal

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Cloud vendor Epicor has been sold to private equity firm Clayton Dubilier & Rice (CD&R) in a deal worth $4.7 billion, according to a Financial Times report.

The company was acquired by US investment firm KKR in 2016 for $3.3 billion and has since transformed from an enterprise software company into a cloud-first vendor.

Its revenue has grown 60 percent in four years, with almost three quarters (73 percent) coming from recurring revenue, Enterprise Times claims.

Although KKR has profited on its purchase, the sale was not a simple affair. The company originally put Epicor up for sale last year, but failed to find a suitable buyer.

CD&R, however, appears a sensible match, with experience in the industrial sector - which Epicor serves frequently - and in the software and technology business.

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,” said Jeff Hawn, Operating Partner at CD&R.

“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,” he added.

Epicor offers enterprise resource planning software, customer relationship management tools, supply chain management software and human capital management software - in SaaS form and on-premise.