Epicor Software, currently owned by investment firm KKR, is being sold to Clayton, Dubilier & Rice. The parties this week said they have reached a definitive deal. KKR purchased Epicor from Apax Partners in 2016 for $3.3 billion, including debt. Other than the purchase price, the announcement provided little in the way of numbers except “A series of new product releases has led to a revenue mix comprising 73 percent recurring revenue, which includes an industry-leading SaaS business growth rate of 60 percent year-to-date.” Epicor also claims more than 20,000 customers. When the deal closes, expected later this year, CD&R operating partner Jeff Hawn become chairman of Epicor’s board.
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