M&A Deal Summary

Accel-KKR Acquires Loftware

On March 28, 2023, private equity firm Accel-KKR acquired internet software and services company Loftware from Riverside Partners

Acquisition Highlights
  • This is Accel-KKR’s 31st transaction in the Internet Software and Services sector.
  • This is Accel-KKR’s 77th transaction in the United States.
  • This is Accel-KKR’s 1st transaction in New Hampshire.

M&A Deal Summary
Date 2023-03-28
Target Loftware
Sector Internet Software and Services
Buyer(s) Accel-KKR
Sellers(s) Riverside Partners
Deal Type Secondary Buyout
Advisor(s) Daiwa Corporate Advisory Ltd. (DC Advisory)
Baird (Financial)
Choate Hall & Stewart (Legal)

Target

Loftware

Portsmouth, New Hampshire, United States
Loftware is a provider of cloud-based Enterprise Labeling and Artwork Management solutions. Loftware was founded in 1986 and is based in Portsmouth, New Hampshire.

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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 111 of 117
Sector (Internet Software and Services) 31 of 33
Type (Secondary Buyout) 17 of 18
State (New Hampshire) 1 of 1
Country (United States) 77 of 81
Year (2023) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-22 Storeforce

North York, Ontario, Canada

StoreForce is a provider of performance management, workforce management, and business intelligence designed for the specialty retail marketplace. Storeforce was founded in 2010 and is based in North York, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-07-13 Kerridge

Hungerford, United Kingdom

Kerridge provides software to over customers across the world in a number of vertical markets including building materials and supplies, automotive, industrial, electrical, food and beverage, pharmaceuticals, rental equipment and other distributive trade verticals. Kerridge was founded in 1976 and is based in Hungerford, United Kingdom.

Sell £800M

Seller(S) 1

SELLER

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 31 of 33
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 10 of 10
State (New Hampshire) 3 of 3
Country (United States) 31 of 33
Year (2023) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-05-10 UnisLink

Phoenix, Arizona, United States

UnisLink leverages its proprietary software solutions to provide end-to-end revenue cycle management and population health management services to independent physician groups, ACOs, and value-based care groups across the United States. UnisLink was founded in 2014 and is based in Phoenix, Arizona.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-10-30 Enovate Medical

Murfreesboro, Tennessee, United States

Enovate Medical is a manufacturer of mobile solutions and medical technologies for the healthcare marketplace. Enovate Medical understands the unique needs of healthcare providers and is dedicated to creating products that streamline work flow processes, reduce errors, enhance quality of patient care, increase patient confidence, and put focus back on the patient. Enovate Medical was founded in 2013 and is based in Murfreesboro, Tennessee.

Sell -
Mergr

Product

Company

Legal