KKR has closed its previously announced buy of Epicor Software Corp, a provider of business software. No financial terms were disclosed.
AUSTIN, TX — (Marketwired) — 09/01/16 — Epicor Software Corporation, a global provider of industry-specific enterprise software to promote business growth, announced today the completion of the previously announced acquisition of the Company by leading global investment firm KKR. Effective upon the close of the acquisition, Joe Cowan continues as President and CEO of Epicor and has aligned the executive leadership team to take Epicor into this next phase of growth.
With a clear focus on accelerating growth internationally, expanding the channel business, and further development of shared services capabilities through centers of excellence, Epicor also announces new and expanded roles for several members of its executive leadership team to further centralize functions that are key to strategy execution:
Kathy Crusco is taking on an expanded role as Chief Operating Officer (COO) while retaining her current responsibilities as Chief Financial Officer and Executive Vice President. As COO she will lead the Company’s customer support and human resources divisions as well as having other functions reporting directly to her.
Celia Fleischaker expands her role as Chief Marketing Officer and Executive Vice President beyond corporate marketing to include field marketing, teleprospecting, and product marketing.
Himanshu Palsule will drive growth and innovation as Chief Product and Technology Officer and Executive Vice President, expanding his responsibilities to include leading product management in addition to product development, tools and technology.
“As we embark on our first days with KKR as our partner in expanding growth opportunities for our employees, customers and partners worldwide, I am confident in the executive leadership team we’ve assembled,” said Joe Cowan, president and CEO of Epicor. “This team has a unique opportunity ahead — with a partner that shares our vision — to build lasting relationships with customers for life, through cloud-ready, market-leading solutions paired with a world-class customer experience that will drive growth for our customers.”
“With the acquisition now complete, we look forward to continuing the great work already underway with the Epicor leadership team and to help accelerate the company’s global growth plans through strong products, partners and customer solutions,” said Herald Chen, Member of private equity and Head of Technology at KKR.
KKR is a leading global investment firm that manages investments across multiple asset classes including private equity, energy, infrastructure, real estate, credit and hedge funds. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world‐class people, and driving growth and value creation at the asset level. KKR invests its own capital alongside its partners’ capital and brings opportunities to others through its capital markets business. References to KKR’s investments may include the activities of its sponsored funds. For additional information about KKR & Co. L.P. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Epicor Software Corporation
Epicor Software Corporation drives business growth. We provide flexible, industry-specific software designed around the needs of our manufacturing, distribution, retail, and service industry customers. More than 40 years of experience with our customers’ unique business processes and operational requirements are built into every solution — in the cloud, hosted, or on premises. With this deep understanding of your industry, Epicor solutions manage complexity, increase efficiency, and free up resources so you can focus on growth. For more information, connect with Epicor or visit www.epicor.com.