Accel-KKR Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Accel-KKR has acquired 9 companies. It has also invested in 22 others.

Accel-KKR’s most common sectors for investment are software (49%) and information technology (20%). The Firm’s most common investment types include growth capital (48%) and buyout (lbo, mbo, mbi) (27%). In total, Accel-KKR has invested in 21 US states and 11 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired SciQuest for $509M.

In the last 3 years, Accel-KKR has exited 10 companies. The Firm’s most common exit type is trade sale (59%). Accel-KKR’s largest (disclosed) exit occurred in 2018 when it sold EPiServer Group AB for $1.2B.

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M&A Summary

  • M&A Total Activity100
    • M&A Buy Activity76
    • M&A Sell Activity24
  • Total Sectors Invested 11
  • Total Countries Invested 11
  • M&A Buy/Sell Connections 36
  • M&A Advisors 5

Accel-KKR

2180 Sand Hill Road, Suite 300,
Menlo Park, California 94025
United States
(650) 289-2460
www.accel-kkr.com
inquiries@accel-kkr.com

Accel-KKR is a private equity firm that seeks control investments in middle-market technology companies. The Firm targets investments in public and private companies with revenues ranging from $15 to $150 million. Accel-KKR pursues transactions across multiple segments of the technology industry, including software, hardware and internet technologies, and IT enabled services. Accel-KKR's first fund was created in 2000 by Accel Partners and Kohlberg Kravis Roberts & Co. to invest in technology assets and businesses that were outside of each firm's core focus. Accel-KKR was formed in 2000 and is based in Menlo Park, California with additional office in Atlanta, GA.


Investment Criteria

Sectors of Interest: Business Services, Healthcare Services, Information Technology, Life Science, Publishing, Software, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Going Private, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 15 150
Target EBITDA - -
Investment Size - -
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (7.6/yr) # 38 7 4 12 7 8 76
vol $191M $509M $700M
Sell (2.0/yr) # 14 - 2 6 2 - 24
vol $3.7B $119M $1.2B $5.0B
  100

Most Recent M&A

Company Date Value Type
Wabtec Corp. - Shipper TMS 2020-09-15 - Divestiture
Wilmerding, Pennsylvania
NAVTOR AS 2020-08-27 - Growth Capital
Egersund, Norway · www.navtor.com
Recurly, Inc. 2020-08-12 - Buyout (LBO, MBO, MBI)
San Francisco, California · www.recurly.com
Forcura LLC 2020-07-16 - Growth Capital
Jacksonville, Florida · www.forcura.com
PINC Solutions 2020-06-16 - Growth Capital
Union City, California · www.pinc.com
ProSiebenSat.1 Media SE 2020-05-11 - Stake Purchase
Unterföhring, Germany · www.prosiebensat1.com
Pegasus 2020-01-13 - Growth Capital
Newcastle, Australia · www.pegasus.net.au
Springbrook Software, Inc. 2020-01-07 - Divestiture
Portland, Oregon · www.springbrooksoftware.com
Agilence, Inc. 2019-08-15 - Growth Capital
Mount Laurel, New Jersey · www.agilenceinc.com
SciQuest, Inc. 2019-07-08 - Secondary Buyout
Morrisville, North Carolina · www.sciquest.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SugarCRM, Inc. 2018-08-15 Node, Inc. 2020-08-24 3
Cupertino, California · www.sugarcrm.com San Francisco, California · www.node.io
IntegriChain Inc. 2016-03-01 Cumberland Consulting Group LLC - Life Science Division 2020-04-13 4
Philadelphia, Pennsylvania · www.integrichain.com Franklin, Tennessee
Kerridge Commercial Systems Ltd. 2015-02-11 Infomat nv 2020-04-01 9
Hungerford, United Kingdom · www.kerridgecs.com Wilrijk, Belgium · www.infomat.eu
Kerridge Commercial Systems Ltd. 2015-02-11 MAM Software Group, Inc. 2019-09-03 8
Hungerford, United Kingdom · www.kerridgecs.com Barnsley, United Kingdom · www.mamsoftware.com
Smart Communications 2016-09-12 Intelledox, Inc. 2019-07-18 1
Hertfordshire, United Kingdom · www.smart-communications.com McKinney, Texas · www.intelledox.com
SugarCRM, Inc. 2018-08-15 Salesfusion, Inc. 2019-05-16 2
Cupertino, California · www.sugarcrm.com Cupertino, California · www.salesfusion.com
SugarCRM, Inc. 2018-08-15 Collabspot Pte Ltd. - Email Integration Products 2019-03-07 1
Cupertino, California · www.sugarcrm.com Singapore, Singapore
IntegriChain Inc. 2016-03-01 daVIZta, Inc. 2019-03-06 3
Philadelphia, Pennsylvania · www.integrichain.com Somerset, New Jersey · www.davizta.com
Kerridge Commercial Systems Ltd. 2015-02-11 inspHire, Inc. 2018-09-27 7
Hungerford, United Kingdom · www.kerridgecs.com The Woodlands, Texas · www.current-rms.com
Kerridge Commercial Systems Ltd. 2015-02-11 Current-RMS Ltd. 2018-09-27 6
Hungerford, United Kingdom · www.kerridgecs.com Nottingham, United Kingdom · www.current-rms.com

M&A by Sector

Sector Current # Value All-time # Value
Software 24 (46%) 63M (76%) 37 (49%) 670M (96%)
Information Technology 11 (21%) 20M (24%) 15 (20%) 20M (3%)
Internet Software and Services 10 (19%) - 14 (18%) 10M (1%)
Publishing 2 (4%) - 2 (3%) -
Staffing 1 (2%) - 2 (3%) -
Business Services - - 1 (1%) -
Life Science 1 (2%) - 1 (1%) -
Media 1 (2%) - 1 (1%) -
Medical Products 1 (2%) - 1 (1%) -
Technology Hardware - - 1 (1%) -
Utilities 1 (2%) - 1 (1%) -
Total 52 $83M 76 $700M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 39 (75%) 20M (24%) 58 (76%) 570M (81%)
  California 8 (15%) - 11 (14%) 41M (6%)
  Texas 5 (10%) 20M (24%) 7 (9%) 20M (3%)
  Massachusetts 5 (10%) - 7 (9%) -
  Georgia 3 (6%) - 4 (5%) -
  Colorado 2 (4%) - 4 (5%) -
  North Carolina 2 (4%) - 3 (4%) 509M (73%)
  New Jersey 2 (4%) - 3 (4%) -
  Florida 2 (4%) - 2 (3%) -
  Pennsylvania 2 (4%) - 2 (3%) -
  Oregon 1 (2%) - 2 (3%) -
  New York 1 (2%) - 2 (3%) -
  Virginia - - 2 (3%) -
  Nebraska 1 (2%) - 1 (1%) -
  Maryland 1 (2%) - 1 (1%) -
  Indiana 1 (2%) - 1 (1%) -
  Illinois 1 (2%) - 1 (1%) -
  Connecticut 1 (2%) - 1 (1%) -
  Washington 1 (2%) - 1 (1%) -
  Kansas - - 1 (1%) -
  Idaho - - 1 (1%) -
  Wisconsin - - 1 (1%) -
United Kingdom 4 (8%) 63M (76%) 4 (5%) 63M (9%)
Canada 2 (4%) - 4 (5%) 58M (8%)
  Ontario 2 (4%) - 4 (5%) 58M (8%)
Australia 2 (4%) - 3 (4%) 10M (1%)
Germany 1 (2%) - 1 (1%) -
Chile 1 (2%) - 1 (1%) -
Colombia 1 (2%) - 1 (1%) -
New Zealand 1 (2%) - 1 (1%) -
Norway 1 (2%) - 1 (1%) -
Ireland - - 1 (1%) -
Sweden - - 1 (1%) -
Domestic 39 (75%) 20M (24%) 58 (76%) 570M (81%)
Cross-border 13 (25%) 63M (76%) 18 (24%) 131M (19%)
Total 52 $83M 76 $700M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 31 (60%) - 36 (47%) 10M (1%)
Buyout (LBO, MBO, MBI) 8 (15%) - 20 (26%) 41M (6%)
Secondary Buyout 5 (10%) 63M (76%) 8 (11%) 63M (9%)
Divestiture 3 (6%) - 5 (7%) 58M (8%)
Venture 4 (8%) 20M (24%) 4 (5%) 20M (3%)
Going Private - - 1 (1%) 509M (73%)
Acquisition Financing - - 1 (1%) -
Stake Purchase 1 (2%) - 1 (1%) -
Total 52 $83M 76 $700M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (46%) 2.8B (56%)
Secondary Sale 8 (33%) 2.1B (43%)
Trade Sale 3 (13%) 52M (1%)
Bankruptcy 1 (4%) -
IPO 1 (4%) -
Total 24 $5.0B

Top M&A Advisors

Financial Deals
Houlihan Lokey
 1
Morgan Stanley
 1
Arma Partners LLP
 1
Legal Deals
Kirkland & Ellis LLP
 6

Deal Values

buy # Total
$100M to $1B 1 $509M
< $100M 5 $191M
TOTAL $700M
Largest SciQuest, Inc.
$509M (2016-05-31)
sell # Total
> $1B 1 $1.2B
$100M to $1B 10 $3.7B
< $100M 2 $87M
TOTAL $5.0B
Largest EPiServer Group AB
$1.2B (2018-09-06)

M&A Connections

Deals %
Acquired from
PE Firm(s)
64%
9 64%
Strategic(s)
36%
5 36%
Exited to
PE Firm(s)
39%
9 39%
Strategic(s)
61%
14 61%

Investor Summary

Size

Mega

PE Assets

4.0B USD

Established

2000

Specialist/Generalist

Specialist

Leadership

Rob Palumbo

Founding Partner & Managing Director

Tom Barnds

Founding Partner & Managing Director

Dean Jacobson

Managing Director

Greg Williams

Managing Director

Jason Klein

Managing Director

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