Hungerford’s Kerridge Commercial Systems acquired by CapVest
Kerridge Commercial Systems (KCS), a Hungerford-based provider of resource planning software for distribution, has been acquired by CapVest Partners LLP.
CapVest purchased the firm from Accel-KKR, the fee for the deal is as of yet undisclosed.
KCS provides vertical specific software and services to a global base of over 32,000 customers across 70 countries.
Customers of the company span a number of industries including those in building materials & supplies, food & beverage, automotive, IT & electronics, construction & engineering, media, and pharmaceuticals.
Visit Hampshire Biz News for bright, upbeat and positive business news from the county
CEO of KCS Ian Bendelow said: "This is an exciting announcement for the whole KCS team, which will further solidify our position as a leading provider of mission-critical vertically focused SaaS globally. We operate in a fragmented and growing £3.4 billion addressable market with significant whitespace opportunities as companies digitalise processes and migrate to the cloud.
‘’CapVest’s long track record of transforming the size and scale of its portfolio companies makes CapVest an ideal and exciting partner for us in pursuing our ambitious plans for the future.’’
KCS was financially advised by Arma Partners and Stifel, and received legal advice from Kirkland & Ellis and Addleshaw Goddard. EY provided KCS with both financial and tax support whilst PwC provided commercial and technical advice during the deal.
Principal at CapVest, Fred Raikes, said: "We believe that KCS is well positioned to accelerate growth in the coming years capitalising on the ongoing demand for cloud ERP, supported by the company’s reputation for best-in-class vertical specific product functionality, quality and reliability. We look forward to working with Ian and the team to continue to expand the platform via M&A as well as bringing additional innovative cloud products to market to continue to address customer needs globally.''
Read more - South West of England hailed as ‘hotbed of entrepreneurial activity’