The 2020 Mid-Year Economic Update_long

CD&R to Acquire Epicor from KKR for $4.7 Billion

Following recent purchase of HD Supply Holdings’ White Cap division, private equity firm CD&R makes second big play in distribution with addition of major ERP provider.
Epicor

New York-based private equity firm Clayton, Dubilier & Rice on Monday announced it would acquire Austin, Texas-based Epicor Software Corp. from investment firm KKR for $4.7 billion.

Epicor, an enterprise software vendor that delivers cloud-enabled services to more than 20,000 customers globally, specializes in industrial end markets that include manufacturing, distribution, retail and services categories.

“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.”

Hawn will serve as chairman of the Epicor Board upon close of the transaction, expected later this year.

This was the second big distribution acquisition that Clayton, Dubilier & Rice made in August. Earlier in the month, the firm acquired White Cap from HD Supply Holdings for $2.9 billion.

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