Clayton, Dubilier & Rice Acquires Epicor Software Corporation | Financial Buzz

Clayton, Dubilier & Rice Acquires Epicor Software Corporation

Clayton, Dubilier & Rice and Epicor Software have announced a definitive agreement where CD&R will acquire Epicor from leading global investment firm KKR.  Epicor is creating a world of better business for their customers, building in their unique business processes and operational requirements into every one of their solutions―in the cloud or on premises. 

“This is an exciting day for the entire Epicor family—employees, customers, and partners alike – and validates the company’s leadership position across markets we serve,” said Epicor CEO Steve Murphy. “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.”

“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, CD&R Operating Partner.  “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.”

“We are excited to partner with Epicor and its talented management team to drive the business into a new phase of growth and profitability,” said Rick Schnall, CD&R Co-President. “Our long-standing industrial end-market experience and growing enterprise software expertise aligns well with Epicor’s value creation plan.”

“Four years ago, we embarked on an ambitious product modernization journey together with Epicor and are incredibly proud of the successes that the company has achieved to date, particularly with its recent cloud releases,” remarked John Park, Chairman of the Epicor Board and Head of Americas Technology Private Equity at KKR. “We are confident that CD&R will provide valuable support as the company continues these product- and customer- centric investments to accelerate growth in the cloud.”

Operating partner Jeff Hawn of CD&R will serve as Chairman of the Epicor Board on close of the transaction which is expected later this year.  Hawn has over two decades of experience on senior roles in software and technology related businesses that include Chairman and CEO of Quest Software, Attachmate and Vertafore.