Epicor Software Corp. Austin, Texas, best known in the electrical industry for its distributor ERP software systems Eclipse and Prophet 21, will change hands from one financial firm to another. After five years of ownership by Apax Partners group of funds, Epicor has agreed to be acquired by the global investment firm Kohlberg Kravis Roberts (KKR).
Financial terms of the transaction were not disclosed, though Bloomberg cited unnamed sources putting the deal at around $3.3 billion.
In addition to distribution ERP systems, Epicor provides industry-specific solutions to customers in the manufacturing and retail sectors. With customers in more than 150 countries, Epicor provides solutions localized for specific markets so that as a company expands geographically, Epicor can help facilitate that growth.
“We are eager to work with KKR and believe their capabilities in the technology sector, both domestically and internationally, will enable us to find new ways to create value,” said Joe Cowan, president and CEO of Epicor, in a press release.