Accel-KKR Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Accel-KKR has acquired 4 companies. It has also invested in 16 others.

Accel-KKR’s most common sectors for investment are software (53%) and information technology (21%). The Firm’s most common investment types include growth capital (48%) and buyout (lbo, mbo, mbi) (28%). In total, Accel-KKR has invested in 21 US states and 9 different countries. Its largest (disclosed) acquisition occurred in 2016 when it acquired SciQuest for $509M.

In the last 3 years, Accel-KKR has exited 9 companies. The Firm’s most common exit type is trade sale (61%). 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 Activity91
    • M&A Buy Activity68
    • M&A Sell Activity23
  • Total Sectors Invested 9
  • Total Countries Invested 9
  • M&A Buy/Sell Connections 31
  • M&A Advisors 4

Accel-KKR

2500 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 (6.0/yr) # 38 7 4 11 6 2 68
vol $191M $509M $700M
Sell (1.8/yr) # 14 - 2 5 2 - 23
vol $3.7B $119M $1.2B $5.0B
  91

Most Recent M&A

Company Date Value Type
Pegasus 2020-01-13 - Growth Capital
Newcastle, Australia · www.pegasus.net.au
Springbrook Software, Inc. 2020-01-07 - Divestiture
Portland, Oregon · www.springbrooksoftware.com
SciQuest, Inc. 2019-07-08 - Secondary Buyout
Morrisville, North Carolina · www.sciquest.com
Lemontech 2019-06-28 - Buyout (LBO, MBO, MBI)
Las Condes, Chile · www.lemontech.com
Vyne Corp. 2019-06-25 - Secondary Buyout
Dunwoody, Georgia · www.vynecorp.com
Cendyn 2019-06-18 - Growth Capital
Boca Raton, Florida · www.cendyn.com
Safeguard Global 2019-05-08 - Growth Capital
Austin, Texas · www.safeguardglobal.com
OrthoFi, Inc. 2019-05-03 - Secondary Buyout
Denver, Colorado · www.orthofi.com
Humanforce 2019-01-28 - Growth Capital
Sydney, Australia · www.humanforce.com
Vistex, Inc. 2019-01-23 - Growth Capital
Hoffman Estates, Illinois · www.vistex.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
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
Swiftpage 2013-02-15 Kuvana, Inc. 2018-12-12 1
Englewood, Colorado · www.swiftpage.com Atlanta, Georgia · www.kuvana.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
Infinisource Benefit Services 2011-09-20 PoleStar Benefits, Inc. 2018-08-28 1
Charlotte, North Carolina · www.infinisource.com Lake Oswego, Oregon · www.polestarbenefits.com
Kerridge Commercial Systems Ltd. 2015-02-11 Electronic Data Processing Plc (EDP) 2018-08-13 5
Hungerford, United Kingdom · www.kerridgecs.com Sheffield, United Kingdom · www.edp.co.uk

M&A by Sector

Sector Current # Value All-time # Value
Software 25 (54%) 63M (76%) 36 (53%) 670M (96%)
Information Technology 10 (22%) 20M (24%) 14 (21%) 20M (3%)
Internet Software and Services 6 (13%) - 10 (15%) 10M (1%)
Publishing 2 (4%) - 2 (3%) -
Staffing 1 (2%) - 2 (3%) -
Business Services - - 1 (1%) -
Life Science 1 (2%) - 1 (1%) -
Technology Hardware - - 1 (1%) -
Utilities 1 (2%) - 1 (1%) -
Total 46 $83M 68 $700M

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 35 (76%) 20M (24%) 52 (76%) 570M (81%)
  California 6 (13%) - 9 (13%) 41M (6%)
  Texas 6 (13%) 20M (24%) 7 (10%) 20M (3%)
  Massachusetts 4 (9%) - 6 (9%) -
  Georgia 3 (7%) - 4 (6%) -
  Colorado 3 (7%) - 4 (6%) -
  North Carolina 2 (4%) - 3 (4%) 509M (73%)
  New York 2 (4%) - 3 (4%) -
  Oregon 1 (2%) - 2 (3%) -
  Virginia - - 2 (3%) -
  Washington 1 (2%) - 1 (1%) -
  Pennsylvania 1 (2%) - 1 (1%) -
  Nebraska 1 (2%) - 1 (1%) -
  Maryland 1 (2%) - 1 (1%) -
  Indiana 1 (2%) - 1 (1%) -
  Illinois 1 (2%) - 1 (1%) -
  Florida 1 (2%) - 1 (1%) -
  Connecticut 1 (2%) - 1 (1%) -
  New Jersey - - 1 (1%) -
  Kansas - - 1 (1%) -
  Idaho - - 1 (1%) -
  Wisconsin - - 1 (1%) -
United Kingdom 4 (9%) 63M (76%) 4 (6%) 63M (9%)
Canada 2 (4%) - 4 (6%) 58M (8%)
  Ontario 2 (4%) - 4 (6%) 58M (8%)
Australia 2 (4%) - 3 (4%) 10M (1%)
Chile 1 (2%) - 1 (1%) -
Colombia 1 (2%) - 1 (1%) -
New Zealand 1 (2%) - 1 (1%) -
Ireland - - 1 (1%) -
Sweden - - 1 (1%) -
Domestic 35 (76%) 20M (24%) 52 (76%) 570M (81%)
Cross-border 11 (24%) 63M (76%) 16 (24%) 131M (19%)
Total 46 $83M 68 $700M

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 28 (61%) - 32 (47%) 10M (1%)
Buyout (LBO, MBO, MBI) 7 (15%) - 19 (28%) 41M (6%)
Secondary Buyout 5 (11%) 63M (76%) 8 (12%) 63M (9%)
Divestiture 2 (4%) - 4 (6%) 58M (8%)
Venture 3 (7%) 20M (24%) 3 (4%) 20M (3%)
Going Private - - 1 (1%) 509M (73%)
Acquisition Financing 1 (2%) - 1 (1%) -
Total 46 $83M 68 $700M

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 11 (48%) 2.8B (56%)
Secondary Sale 7 (30%) 2.1B (43%)
Trade Sale 3 (13%) 52M (1%)
Bankruptcy 1 (4%) -
IPO 1 (4%) -
Total 23 $5.0B

Top M&A Advisors

Financial Deals
Houlihan Lokey
 1
Morgan Stanley
 1
Arma Partners LLP
 1
Legal Deals
Kirkland & Ellis LLP
 5

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)
69%
9 69%
Strategic(s)
31%
4 31%
Exited to
PE Firm(s)
36%
8 36%
Strategic(s)
64%
14 64%

Investor Summary

Size

Mega

PE Assets

4.0B USD

Established

2000

Specialist/Generalist

Specialist

Leadership

Tom Barnds

Founding Partner & Managing Director

Rob Palumbo

Founding Partner & Managing Director

Greg Williams

Managing Director

Dean Jacobson

Managing Director

Patrick Fallon

Managing Director, COO & CCO

Mergr

Product

Company

Legal