Accel-KKR Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Accel-KKR has acquired 13 companies. It has also invested in 23 others.

Accel-KKR’s most common sectors for investment are software (45%) and internet software and services (22%). The Firm’s most common investment types include growth capital (44%) and buyout (lbo, mbo, mbi) (28%). In total, Accel-KKR has invested in 22 US states and 12 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired SciQuest for $509M.

In the last 3 years, Accel-KKR has exited 15 companies. The Firm’s most common exit type is trade sale (58%). 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 Activity120
    • M&A Buy Activity87
    • M&A Sell Activity33
  • Total Sectors Invested 12
  • Total Countries Invested 12
  • M&A Buy/Sell Connections 43
  • M&A Advisors 8

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 and growth-oriented 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 is based in Menlo Park, California.


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 ≤ '16 '17 '18 '19 '20 '21 T
Buy (8.0/yr) # 47 4 11 11 13 1 87
vol $680M $680M
Sell (3.6/yr) # 15 3 7 3 3 2 33
vol $3.7B $119M $1.2B $500M $5.5B
  120

Most Recent M&A

Company Date Value Type
ShowingTime.com, Inc. 2021-02-10 500M USD Add-on Acquisition
Chicago, Illinois · www.showingtime.com
Endalia 2021-01-14 - Growth Capital
Zaragoza, Spain · www.endalia.com
PointRight, Inc. 2021-01-12 - Add-on Acquisition
Cambridge, Massachusetts · www.pointright.com
OrthoBanc LLC 2020-12-31 - Buyout (LBO, MBO, MBI)
Hixson, Tennessee · www.orthobanc.com
Insurance Technologies Corp. 2020-11-24 - Divestiture
Carrollton, Texas · www.getitc.com
TrueCommerce, Inc. 2020-11-13 - Secondary Buyout
Cranberry Township, Pennsylvania · www.truecommerce.com
Surgical Information Systems LLC 2020-10-15 - Secondary Buyout
Alpharetta, Georgia · www.sisfirst.com
Blue Mountain Quality Resources, Inc. 2020-09-29 - Growth Capital
State College, Pennsylvania · www.coolblue.com
Wabtec Corp. - Shipper TMS 2020-09-15 - Divestiture
Wilmerding, Pennsylvania
NAVTOR AS 2020-08-27 - Growth Capital
Egersund, Norway · www.navtor.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
SugarCRM, Inc. 2018-08-15 W-Systems Corp. 2020-11-05 5
Cupertino, California · www.sugarcrm.com Cupertino, California · www.w-systems.com
Aircraft Technical Publishers 2015-11-17 Flightdocs, Inc. 2020-06-18 2
Brisbane, California · www.atp.com Bonita Springs, Florida · www.flightdocs.com
IntegriChain Inc. 2016-03-01 Cumberland Consulting Group LLC - Life Science Division 2020-04-13 4
Philadelphia, Pennsylvania · www.integrichain.com Franklin, Tennessee
iSolved HCM 2016-09-06 HK Payroll Services, Inc. 2019-05-15 4
Charlotte, North Carolina · www.isolvedhcm.com Dubuque, Iowa · www.hkpayroll.com
SugarCRM, Inc. 2018-08-15 Collabspot Pte Ltd. - Email Integration Products 2019-03-07 4
Cupertino, California · www.sugarcrm.com Singapore, Singapore
iSolved HCM 2016-09-06 The Sage Group plc - Sage Payroll Solutions 2019-01-15 3
Charlotte, North Carolina · www.isolvedhcm.com , United States
Infinisource, Inc. 2011-09-20 iSolved HCM 2016-09-06 1
Charlotte, North Carolina · www.infinisource.com Charlotte, North Carolina · www.isolvedhcm.com

M&A by Sector

Sector Current # Value All-time # Value
Software 24 (45%) 63M (100%) 39 (45%) 670M (99%)
Internet Software and Services 12 (23%) - 19 (22%) 10M (1%)
Information Technology 12 (23%) - 17 (20%) -
Business Services 1 (2%) - 3 (3%) -
Staffing 1 (2%) - 2 (2%) -
Financial Services 1 (2%) - 1 (1%) -
Information Services 1 (2%) - 1 (1%) -
Life Science - - 1 (1%) -
Media 1 (2%) - 1 (1%) -
Medical Products - - 1 (1%) -
Publishing - - 1 (1%) -
Technology Hardware - - 1 (1%) -
Total 53 $63M 87 $680M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 37 (70%) - 65 (75%) 550M (81%)
  California 7 (13%) - 11 (13%) 41M (6%)
  Texas 4 (8%) - 7 (8%) -
  Massachusetts 2 (4%) - 6 (7%) -
  Georgia 4 (8%) - 5 (6%) -
  North Carolina 3 (6%) - 4 (5%) 509M (75%)
  Pennsylvania 3 (6%) - 4 (5%) -
  Colorado 1 (2%) - 4 (5%) -
  New Jersey 2 (4%) - 3 (3%) -
  Nebraska 2 (4%) - 2 (2%) -
  Maryland 2 (4%) - 2 (2%) -
  Florida 2 (4%) - 2 (2%) -
  Oregon 1 (2%) - 2 (2%) -
  New York 1 (2%) - 2 (2%) -
  Illinois 1 (2%) - 2 (2%) -
  Virginia - - 2 (2%) -
  Tennessee 1 (2%) - 1 (1%) -
  Connecticut 1 (2%) - 1 (1%) -
  Wisconsin - - 1 (1%) -
  Washington - - 1 (1%) -
  Kansas - - 1 (1%) -
  Indiana - - 1 (1%) -
  Idaho - - 1 (1%) -
United Kingdom 5 (9%) 63M (100%) 5 (6%) 63M (9%)
Canada 1 (2%) - 4 (5%) 58M (8%)
  Ontario 1 (2%) - 4 (5%) 58M (8%)
Australia 2 (4%) - 3 (3%) 10M (1%)
Chile 2 (4%) - 2 (2%) -
Norway 2 (4%) - 2 (2%) -
Germany 1 (2%) - 1 (1%) -
Spain 1 (2%) - 1 (1%) -
Colombia 1 (2%) - 1 (1%) -
New Zealand 1 (2%) - 1 (1%) -
Ireland - - 1 (1%) -
Sweden - - 1 (1%) -
Domestic 37 (70%) - 65 (75%) 550M (81%)
Cross-border 16 (30%) 63M (100%) 22 (25%) 131M (19%)
Total 53 $63M 87 $680M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 29 (55%) - 38 (44%) 10M (1%)
Buyout (LBO, MBO, MBI) 12 (23%) - 24 (28%) 41M (6%)
Secondary Buyout 5 (9%) 63M (100%) 9 (10%) 63M (9%)
Divestiture 4 (8%) - 7 (8%) 58M (8%)
Venture 1 (2%) - 4 (5%) -
Acquisition Financing - - 2 (2%) -
Stake Purchase 2 (4%) - 2 (2%) -
Going Private - - 1 (1%) 509M (75%)
Total 53 $63M 87 $680M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 12 (36%) 3.3B (60%)
Secondary Sale 11 (33%) 2.1B (39%)
Trade Sale 7 (21%) 52M (1%)
Bankruptcy 1 (3%) -
Divestiture 1 (3%) -
IPO 1 (3%) -
Total 33 $5.5B

Top M&A Advisors

Financial Deals
Houlihan Lokey
 1
Arma Partners LLP
 1
ABG Sundal Collier
 1
Legal Deals
Kirkland & Ellis LLP
 6
Simonsen Vogt Wiig AS
 1
Cuatrecasas, Gonçalves Pereira, SLP
 1

Deal Values

buy # Total
$100M to $1B 1 $509M
< $100M 4 $171M
TOTAL $680M
Largest SciQuest, Inc.
$509M (2016-05-31)
sell # Total
> $1B 1 $1.2B
$100M to $1B 11 $4.2B
< $100M 2 $87M
TOTAL $5.5B
Largest EPiServer Group AB
$1.2B (2018-09-06)

M&A Connections

Deals
Acquired from
Investor(s)
11%
10 (11%)
Strategic(s)
8%
7 (8%)
Exited to
Investor(s)
33%
11 (33%)
Strategic(s)
61%
20 (61%)

Investor Summary

Size

Mega

PE Assets

10.0B 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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