A press release detailing the Epicor Software Corporation acquisition by investment firm Clayton, Dubilier & Rice was published August 31, 2020. You can read the full press release, Here.
Epicor Software Corporation Acquisition
The purchase of Epicor Software Corporation from KKR, the former owner of four years, represents an important milestone for Epicor.
“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.”
CD&R Operating Partner Jeff Hawn will serve as Chairman of the Epicor Board upon close of the transaction, expected later this year.
We expect more information to follow shortly and look forward to an exciting new chapter in the story of Epicor’s rise in prominence over the past 5 decades.
About Encompass Solutions
Encompass Solutions is a business and software consulting firm that specializes in ERP systems, EDI, and Managed Services support for Manufacturers and Distributors. Serving small and medium-sized businesses since 2001, Encompass modernizes operations and automates processes for hundreds of customers across the globe. Whether undertaking full-scale implementation, integration, and renovation of existing systems, Encompass provides a specialized approach to every client’s needs. By identifying customer requirements and addressing them with the right solutions, we ensure our clients are equipped to match the pace of Industry.