Kerridge Commercial Systems, a global provider of enterprise resource planning software for distribution, servicing and rental businesses, has been sold by its private equity owner.
Funds managed by CapVest Partners LLP have agreed to acquire the Berkshire company from Accel-KKR, a global technology-focused investment firm.
KCS’s leading vertical specific software and services are delivered to a global base of over 32,000 customers across more than 70 countries. The company’s industry specific cloud software suites support complex, vertical specific workflows, and provide mission critical solutions that enable its clients to source effectively, stock efficiently, sell profitably and service competitively.
The company’s diversified client base spans large Enterprise to SME across a range of industry sectors including building materials & supplies, food & beverage, automotive, IT & electronics, construction & engineering, media and pharmaceuticals.
Under the leadership of CEO Ian Bendelow, the KCS team has in recent years pursued an ambitious growth strategy which has seen it complete 18 acquisitions and significantly expand its SaaS revenue as well as providing additional functionality and services to clients via its layered application products.
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“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,” said Bendelow.
“We operate in a fragmented and growing £3.4bn 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.”
Fred Raikes, principal at CapVest 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.”