M&A Deal Summary

Accel-KKR Acquires SugarCRM

On August 15, 2018, private equity firm Accel-KKR acquired software company SugarCRM from Goldman Sachs Merchant Banking

Acquisition Highlights
  • This is Accel-KKR’s 30th transaction in the Software sector.
  • This is Accel-KKR’s 47th transaction in the United States.
  • This is Accel-KKR’s 8th transaction in California.

M&A Deal Summary

Date 2018-08-15
Target SugarCRM
Sector Software
Buyer(s) Accel-KKR
Sellers(s) Goldman Sachs Merchant Banking
Deal Type Secondary Buyout
Advisor(s) Credit Suisse Investment Banking (Financial)

Target

SugarCRM

Cupertino, California, United States
SugarCRM is a CX (customer experience) platform, enabling businesses to create profitable customer relationships by delivering highly relevant, personalized experiences throughout the customer journey. The easy-to-use, intuitive platform makes CX easy and accessible for everyone, allowing marketing, sales and services professionals to focus on high-impact, value-adding activities that create customers for life. SugarCRM was founded in 2004 and is based in Cupertino, California.

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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 62 of 117
Sector (Software) 30 of 52
Type (Secondary Buyout) 7 of 18
State (California) 8 of 11
Country (United States) 47 of 81
Year (2018) 9 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-18 Continuity

New Haven, Connecticut, United States

Continuity is a provider of regulatory technology (RegTech) solutions that automate compliance management for financial institutions of all sizes. By combining regulatory expertise and cloud technology, Continuity’s solutions are designed to automate all aspects of compliance management, from interpretation of regulatory issuances through intuitive task delegation, vendor management, and board reporting. Continuity was founded in 2008 and is based in New Haven, Connecticut.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-09-06 EPiServer

Stockholm, Sweden

EPiServer empowers digital leaders to easily create standout experiences for customers – everywhere they engage, and always with measurable business results. The Episerver Digital Experience Cloud™ unifies digital content, commerce and marketing in one platform, including omnichannel solutions for smart personalization and intelligent campaigns. EPiServer was founded in 1994 and is based in Stockholm, Sweden.

Sell $1.2B

Seller(S) 1

SELLER

Goldman Sachs Merchant Banking

New York, New York, United States

Category Private Equity Firm
Founded 1986
PE ASSETS 155.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Goldman Sachs Merchant Banking Division is the investment arm of Goldman Sachs. The primary corporate investment group within the Merchant Banking Division is Goldman Sachs' direct investment arm. GS's direct investment arm consists of GS Capital Partners, GS Mezzanine Partners, and GS Growth Partners. GS Capital Partners is the direct corporate equity investment group which seeks LBO, recapitalization, and growth investments to help fund acquisitions, expansions, recapitalizations, restructurings, buyouts, and take privates. GS Capital Partners looks to invest between $50 and $800 million in opportunities in North/South America, Europe, Asia. GS Mezzanine Partners is the junior capital arm of Goldman Sachs. GS Mezzanine looks to invest between $200 million and and $800 million in transactions valued up to $10 billion. Investment proceeds are used to fund leveraged buyouts, expansion financings, recapitalizations, acquisitions, and restructurings. GS Growth looks to invest in growth equity transactions. The unit seeks to commit $20 to $200 million per investment. Other units within GS's merchant banking division include Real Estate, Infrastructure, and Urban Investments. Goldman Sachs Merchant Banking Division is based in New York City.


DEAL STATS #
Overall 82 of 110
Sector (Software) 6 of 10
Type (Secondary Buyout) 25 of 32
State (California) 4 of 6
Country (United States) 58 of 78
Year (2018) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-16 U.S. Security Associates

Roswell, Georgia, United States

U.S. Security Associates, Inc. is a security and facility services company with over 160,000 employees, provides unparalleled security services and solutions. With headquarters in Santa Ana, Calif., and Conshohocken, Pa., Allied Universal combines people and technology to deliver evolving, tailored solutions that allow our clients to focus on their core business. An unrelenting focus on clients’ success creates partnerships rooted in quality and value, and is supported by experience gained from being in business for over 60 years. Through our people and leading services, systems and solutions.

Sell $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-21 Restaurant Technologies

Mendota Heights, Minnesota, United States

Restaurant Technologies is a foodservice industry partner, proudly serving more than 32,000 quick-service and full-service restaurant chains, independent restaurants, grocery delis, hotels, casinos, universities, and hospitals nationwide. The company helps make foodservice operations safer, smarter, and more efficient through cooking oil and hood and flue management solutions. It has a long history of sustainability, working with partners to provide used cooking oil as input into renewable diesel and biodiesel, creating an ESG-friendly process of recycled used cooking oil for its customers. Restaurant Technologies was formed in 1996 and is based in

Buy -