Accel-KKR

Accel-KKR is an American technology-focused private equity firm with $8 billion in capital under management. The firm invests primarily in software and technology-enabled services businesses. Accel-KKR focuses on middle-market companies, providing capital for buyouts and growth investments across a range of opportunities including recapitalizations, divisional carve-outs, and going-private transactions. The company has offices in Menlo Park, California, (headquarters), Atlanta, Georgia (opened in 2006), Mexico City (opened in 2018), and London (opened in 2013).

Accel-KKR
Private Ownership
IndustryPrivate Equity
Founded2000
HeadquartersMenlo Park, California, U.S.
Total assets$8 billion
Number of employees
70
Websitewww.accel-kkr.com

History

The firm was founded in February 2000 as a partnership between the venture capital firm Accel Partners and Kohlberg Kravis Roberts, one of the oldest and largest leveraged buyout firms.[1] Despite that, the firm has operated independently of either firm since the mid-2000s. The firm was founded by George R Roberts, Jim Breyer, Paul Hazen, Rob Palumbo, and Tom Barnds with headquarters in the San Francisco Bay Area.[2]

Accel-KKR raised $8 billion of investor commitments. The company[3] invested from its fifth buyout fund (Accel-KKR Capital Partners V), a $1.5 billion fund raised in 2015, and its third minority equity fund (Accel-KKR Growth Capital Partners III), a $685 million fund raised in 2018. In April 2017, the company sold Abila Inc to Community Brands.[4] In May, Goldman Sachs Asset Management's Petershill unit took a minor stake in Accel-KKR.[5] In January 2020, the firm provided $50 million financial support to Partnerize, a company that specializes in automation solutions for global brands.[6] The same year, in February, Rob Salvagno, the former vice president of Cisco Systems, was appointed as a co-head of Accel-KKR's technology business.[7]

Accel-KKR has invested in or acquired over 200 software and technology-enabled services companies, with the majority of such companies in the United States, but Accel-KKR has also acquired or invested in 24 European companies, six Canadian companies, and five companies based in Australia/New Zealand and four companies based in Latin America.

Current Portfolio Companies

Accel-KKR’s current portfolio companies include:[8]

  • Abrigo
  • Cendyn
  • Cielo
  • ClickDimensions
  • Delta Data
  • Drilling Info / Oildex
  • ESG
  • ESO Solutions
  • FastSpring
  • FM Systems
  • Green Mountain
  • HighWire Press
  • HumanForce
  • IMED
  • Infinisource
  • IntegriChain
  • ITC
  • Kerridge Commercial Systems
  • Kimble Applications[9]
  • LemonTech
  • Ministry Brands / Abila
  • OrthoFi
  • Paymentus
  • Pegasus
  • Peppermint Technology
  • PrismHR
  • Reapit
  • SafeGuard
  • Salsa
  • Sandata
  • SciQuest
  • Sageworks
  • Seequent
  • Siigo
  • Smart Communications
  • SugarCRM
  • Team Software
  • TELCOR
  • Tools Group
  • TravelTripper
  • TrueCommerce
  • Vistex
  • Vitu

Selected Previous Investments

Previous investments from which Accel-KKR has since exited include:

  • Vyne sold to TJC[10]
  • Abila sold to Ministry Brands for over $280 MM in 2017
  • Cielo sold to Permira in 2019
  • One.com sold to Cinven in 2018
  • RiseSmart sold to Randstad for $100 MM in 2015[11]
  • Zinc Ahead sold to Veeva for $130 MM in 2015[12]
  • On Center Software sold to Roper Industries for $157 MM in 2015
  • Accumatica sold to EQT Partners in 2019
  • PrismHR sold to Summit Partners in 2017
  • Clavis Insight sold to Ascential plc in 2017
  • Applied Predictive Technologies sold to MasterCard for $600 MM in 2015[13]
  • iTradeNetwork sold to Roper Industries for $525 MM in 2010
  • Endurance International Group sold to Warburg Pincus for $1 billion in 2011[14]
  • Saber Corporation sold to Electronic Data Systems for $463 MM in 2007
  • IntrinsiQ sold to AmerisourceBergen for $35 MM in 2011[15]
  • CRS Retail Systems sold to Epicor for $121 MM in 2005
  • Savista sold in two transactions to Torex and Accenture for $100 MM in 2006
  • Systems & Software, Inc. sold to Constellation Software in 2007
  • Alias Systems Corporation sold to Autodesk for $197 MM in 2006
  • Kana Software sold to Verint Systems for $514 MM in 2014
  • N-able sold to Solar Winds for $127 MM in 2013
  • HighJump sold to Korber for $725 MM in 2017
  • Jaggaer under definitive agreement to be sold to Cinven for over $1.5 billion in 2019
  • Episerver sold to Insight Venture Partners for $1.16 billion in 2018
  • Model N, which went public on the NYSE under the ticker symbol MODN in 2013

References
  1. "What's An Aging 'Barbarian' To Do?". The New York Times. 2011-08-26. Retrieved 2020-05-07.
  2. "Accel-KKR". Crunch Base. Retrieved 2020-05-07.
  3. "DEFM14A". Retrieved 2020-05-07.
  4. Cooper, Laura (2017-04-07). "Accel-KKR Exits Abila in Sale to Community Brands". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-10.
  5. Lim, Dawn; Cooper, Laura (2017-05-02). "Goldman Takes Minority Stake in Accel-KKR". The Wall Street Journal. ISSN 0099-9660. Retrieved 2020-03-10.
  6. "Partnerize Raises $50 Million Growth Financing Round Led By Accel-KKR". Accesswire. 2020-01-08. Retrieved 2020-05-07.
  7. Shieber, Jonathan (2020-02-04). "After closing its $2.2 billion latest tech fund, KKR adds top Cisco exec to its leadership team". Tech Crunch. Retrieved 2020-05-07.
  8. "Portfolio - Accel-KKR". Retrieved 3 September 2016.
  9. https://www.dlapiper.com/en/uk/news/2018/03/dla-piper-advises-accel-kkr/
  10. "Accel-KKR sells Vyne to TJC". 2019-06-25.
  11. "RANDSTAD BUYS OUTPLACEMENT FIRM RISESMART FOR $100 MILLION". Retrieved 2 October 2016.
  12. "Veeva scoops up rival Zinc Ahead to create mega-content management platform". Retrieved 2 October 2016.
  13. "MasterCard Announces Acquisition of Applied Predictive Technologies - Business Wire". 2015-04-27. Retrieved 3 September 2016.
  14. "Accel-KKR Group Sells Web Hosting Giant Endurance International for $1 Billion - Web Host Industry Review". Retrieved 3 September 2016.
  15. "AmerisourceBergen Buys Chemo I.T. Vendor IntrinsiQ". 2011-09-06. Retrieved 2 October 2016.

Further reading
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