Accel-KKR

Accel-KKR

Type	Private Ownership
Industry	Private Equity
Founded	2000
Headquarters	Sand Hill Road Menlo Park, California, U.S.
Total assets	$2.5 billion
Website	www.accel-kkr.com

Accel-KKR is a technology-focused private equity firm with $4 billion in capital under management. The firm invests primarily in software and IT-enabled businesses well positioned for top-line and bottom-line growth. At the core of Accel-KKR's investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. 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, CA (headquarters), Atlanta, GA, and London, UK.

The firm was founded in February 2000 as a partnership between venture capital firm Accel Partners and Kohlberg Kravis Roberts, one of the oldest and largest leveraged buyout firms. However, the firm operates independently of either firm today and has since the mid-2000s.

Accel-KKR raised $4 billion of investor commitments. The company is currently investing from its fifth buyout fund (Accel-KKR Capital Partners V), a $1.3 billion fund raised in 2015, and its second minority equity fund (Accel-KKR Growth Capital Partners II), a $350 MM fund raised in 2013. Accel-KKR has invested in or acquired over 80 software and technology service companies, with the majority of such companies in the United States, but Accel-KKR has also acquired or invested in 18 European companies, six Canadian companies, and one Australian company. Companies owned by Accel-KKR include:

• Abila
• Cielo
• Clavis Insight
• Clevest
• DataPipe
• Delta Data
• HighWire Press
• HighJump Software
• Infinisource
• Kerridge Commercial Systems
• Oildex
• MEA/NEA
• North Plains Systems
• PageUp People
• Paymentus
• PrismHR
• RiseSmart
• YourEncore

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

• RiseSmart Sold to Randstad Holding nv in 2015
• Zinc Ahead Sold to Veeva in 2015
• On Center Software Sold to Roper Industries for $157 MM in 2015
• Applied Predictive Technologies Sold to MasterCard for $600 MM in 2015
• iTradeNetwork Sold to Roper Industries for $525 MM in 2010
• Endurance International Group sold to Warburg Pincus for $1 billion in 2011
• Saber Corporation sold to Electronic Data Systems for $463 MM in 2007
• IntrinsiQ sold to AmerisourceBergen in 2011
• 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
• Applied Predictive Technologies sold to MasterCard for $600 MM in 2015
• Model N, which went public on the NYSE under the ticker symbol MODN in 2013

On February 15, 2013, it was announced that Accel-KKR intended to buy Sage Nonprofit Solutions, a division of The Sage Group plc that produces software designed for nonprofit organizations and governmental agencies.

The firm's Founding Partner is Tom Barnds, who is based in Menlo Park. Tom, and his co-Managing Partner Rob Palumbo, were both All-American lacrosse players at Princeton University.

References

• KKR and Accel Open Atlanta Office. New York Times, July 31, 2006

External links

• Accel-KKR (company website)