Accel-KKR set to sell Kerridge Commercial Systems to CapVest Partners

Accel-KKR, a global technology-focused private equity firm, has confirmed that it is selling Kerridge Commercial Systems (KCS), an enterprise resource planning (ERP) and business management software provider for various trade sectors, to international private equity firm CapVest Partners.

Kerridge Commercial Systems, which is headquartered in Berkshire, England, offers software solutions to over 32,000 customers worldwide. The company serves a range of industries, including building materials and supplies, automotive, industrial, electrical, food and beverage, pharmaceuticals, rental equipment, and other distributive trade verticals. It employs over 1,100 staff across 21 global offices.

Ian Bendelow — Kerridge Commercial Systems CEO said: “Accel-KKR has been an exceptional partner to our team, as we have established KCS as the premier global ERP and business management software provider to the distributive trades. As we begin a new chapter with CapVest, we thank Accel-KKR for helping us accelerate our journey.”

Accel-KKR’s initial investment in Kerridge Commercial Systems was made in 2015. Since then, Kerridge Commercial Systems has seen considerable growth, with its overall revenue base expanding more than fourfold. The company has accelerated its organic revenue growth rate, significantly increased its percentage of recurring revenue, and dramatically improved its operating margins.

Kerridge Commercial Systems has also executed several follow-on acquisitions that extended its business into new regions, such as North America and Continental Europe.

The sale of Kerridge Commercial Systems to CapVest is still subject to the receipt of standard regulatory approvals and the fulfilment of closing conditions. The terms of the transaction were not disclosed.

Tom Barnds — Accel-KKR Co-Managing Partner said: “We are very proud of our partnership with Ian Bendelow and the KCS management team.  They achieved tremendous results and created a market leader in our eight years of working together.  We wish them nothing but the best as they continue their growth with their new private equity sponsor.”