Kerridge Commercial Systems, previously owned by Accel-KKR, was bought by CapVest Partners LLP, in a deal worth £800 million which is $1 billion.
The UK-based firm, KCS, is a SaaS ERP firm which has 32000 customers across 70 countries. It provides SaaS solutions for industries like food and beverage, automotive, building materials and supplies, pharmaceuticals, construction and engineering, IT and electronics, and media.
In recent years it has completed 18 acquisitions, resulting in significant expansion of its SaaS revenue. This has also enabled KCS to provide additional functionality along with services to their clients through layered application products.
The CEO of KCS, Ian Bendelow, is excited about this and believes it will solidify their presence as a leading SaaS provider. “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” says Bendelow.
Alongside, Fred Raikes, Principal at CapVest said that KCS is positioned to grow and that CapVest looks forward to working with its team to expand their platform even more.
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