The quarterly and annual reporting was based on the public trading of 8 5/8-percent Senior Notes due 2019. I assume the action results from the company's securing $1.4 billion term loan facility on June 1. The statement about that action noted proceeds were used to prepay indebtedness so I would think that would include the notes. The acquisition of the loan facility coincided with Epicor's spinning off its Retail Solutions Group. There used to be a decent number of publicly reporting companies to let us see into the ERP business. But private equity has taken a toll on that. Companies that have stopped reporting in the last three years are Deltek, Exact and, Unit4, while Microsoft, which used to helpfully break out results of Microsoft Business Solutions, gave up that habit a few years ago. The former CDC Software stopped three years ago after that troubled company combined with Consona to form Aptean. What we need is for some cloud companies to go public.
EPICOR STOPS PUBLIC REPORTING Featured
Epicor Software will no longer report its financial results to the Securities and Exchange Commission. The company filed a suspension of its duty to file reports this month. So there goes another view into what's happening in the mid-market. Epicor had continued reporting since 2011 when the publicly held company formerly known as Epicor combined with Activant Solutions and went private after both were purchased by Apax Partners.
