Accel-KKR agrees to sell Kerridge Commercial Systems

• Accel-KKR invested in KCS in 2015
• Accel-KKR is a technology-focused investment firm with $19bn in cumulative capital commitments
• CapVest is a private equity firm based in London

Accel-KKR has signed a definitive agreement to sell Kerridge Commercial Systems (KCS), an ERP and business management software provider for distributors, wholesalers and related trades, to CapVest Partners.

KCS is headquartered in Berkshire, England.

Accel-KKR invested in KCS in 2015.

KCS grew its overall revenue base more than four-fold, accelerated its organic revenue growth rate, expanded its percentage of revenue that was recurring in nature, and significantly expanded its operating margins, according to a release.

KCS also completed several follow-on acquisitions that expanded into new geographies including North America and Continental Europe, such as the take-private acquisition of US-based MAM Systems in 2019.

“They achieved tremendous results and created a market leader in our eight years of working together,” said Tom Barnds, co-managing partner at Accel-KKR.

Accel-KKR’s recent platform investments in Europe include Basware, PayProp, and Symfonia.

The transaction is subject to regulatory approvals.

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm is based in Menlo Park, California.

CapVest is a private equity firm based in London.

CapVest was advised by Evercore (financial advisor), Willkie Farr & Gallagher (legal), Kirkland & Ellis (financing), KPMG (financial and tax), EY-Parthenon (commercial), West Munroe (technical due diligence) and Marsh (insurance).