Epicor to Find New Home at Clayton, Dubilier & Rice
Posted on 08/31/2020
Private equity firm Clayton, Dubilier & Rice, through its funds, is buying Austin-based Epicor Software Corporation, a global provider of industry-specific enterprise software to industrial-focused sectors. The seller is private equity firm KKR. The transaction valued at US$ 4.7 billion, the largest enterprise software deal so far in 2020.
KKR tried to sell Epicor in 2019 and recently pulled out US$ 560 million through a US$ 1.7 billion dividend recap. KKR bought Epicor from Apax Partners for roughly US$ 3.3 billion in enterprise value in 2016.
Advisors
UBS Investment Bank is acting as financial advisor and Debevoise & Plimpton LLP as legal advisor to Clayton, Dubilier & Rice.
Barclays is acting as lead financial advisor, BofA Securities and Jefferies LLC as financial advisors, and Simpson Thacher & Bartlett LLP as legal advisor to KKR and Epicor.
