M&A Deal Summary

Accel-KKR Acquires Duett

On December 12, 2019, private equity firm Accel-KKR acquired internet software and services company Duett from Procuritas Capital

Acquisition Highlights
  • This is Accel-KKR’s 18th transaction in the Internet Software and Services sector.
  • This is Accel-KKR’s 1st transaction in Norway.

M&A Deal Summary

Date 2019-12-12
Target Duett
Sector Internet Software and Services
Buyer(s) Accel-KKR
Sellers(s) Procuritas Capital
Deal Type Secondary Buyout

Target

Duett

Tynset, Norway
Duett is a provider of SaaS solutions to professional accounting offices and their clients in Scandinavia. The company provides complete financial systems and operating solutions to a range of industries and companies with market leadership positions in agriculture, construction and real estate with more than 20,000 unique users. Duett was founded in 1982 and is based in Tynset, Norway.

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Buyer(S) 1

Buyer

Accel-KKR

Menlo Park, California, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2000
PE ASSETS 19.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

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.


DEAL STATS #
Overall 78 of 117
Sector (Internet Software and Services) 18 of 33
Type (Secondary Buyout) 9 of 18
Country (Norway) 1 of 2
Year (2019) 14 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-06 InSight Mobile Data

California, Maryland, United States

InSight Mobile Data develops mobile resource management and fleet safety solutions that provide real-time visibility into the mobile work environment. The Company's fully configurable StreetEagle software platform provides the ability to capture, analyze and integrate mission-critical data from all mobile assets – vehicles, equipment and workers – to improve operational efficiency and safety. InSight Mobile Data was formed in 1998 and is based in California, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-12-19 Appspace

Dallas, Texas, United States

Appspace offers a software platform for the modern workplace. The company’s software suite specializes in digital signage, enterprise video, and content management and simplifies how organizations share content with their employees. Appspace is based in Dallas, Texas.

Buy -

Seller(S) 1

SELLER

Procuritas Capital

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1990
PE ASSETS 1.1B EUR
Size Large
Type Sector Agnostic
DESCRIPTION

Procuritas Capital is a private equity firm focused on acquiring middle-market Nordic companies. Procuritas Capital does not have any sector preferences and generally seeks to acquire businesses with €15 to €100 million in revenue valued up to €100 million. Target acquisition characteristics include strong management in place, opportunities for growth, and unique products/services. Procuritas Capital was established in 1990 and is based in Stockholm.


DEAL STATS #
Overall 17 of 25
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 8 of 9
Country (Norway) 3 of 3
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-10 Cutters

Bergen, Norway

Cutters provide a haircut drop-in concept that is based on three key factors: efficiency, quality, and price. Cutters was founded in 2015 and is based in Bergen, Norway.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-29 Lassenteret

Hordaland, Norway

Lassenteret is a security center, designs, installs and services locks, access solutions, and other security-related products for private, public and commercial customers. Lassenteret was founded in 1970 and is based in Hordaland, Norway.

Buy -