The private equity firm Apax Partners announced today it completed the acquisitions of Activant Solutions Inc., the No. 1 software firm in construction supply, as well as Epicor Software Corp. Apax then merged the two companies under the Epicor brand name.
The new Epicor has more than 33,000 customers in more than 150 countries with more than $800 million in annual revenues, Apax said in a news release. Given that Irvine, Calif.-based Epicor reported revenue of $440.3 million in 2010, that would suggest Activant's revenue is around $360 million.
"Bringing together two of the premier enterprise software companies creates a global market leader with deep expertise in the manufacturing, distribution, retail and services sectors," said Jason Wright, a partner at Apax Partners. "Not only will customers and prospects benefit from a history of visionary innovation in business software and deep vertical industry expertise, but they will also benefit from the combined company's increased scale and expanded service offerings."
Activant, whose LBM operation is based in Denver, is widely believed to be used by more lumber and building material dealers than any other software provider. A technology survey conducted by ProSales in early 2010 found that more than half of the 215 dealers surveyed used an Activant product.
"As both companies have demonstrated throughout their nearly 40-year history, the new Epicor is committed to continuing its customer-focused product strategy and protecting customers' investment in their products," Apax's news release declared. "With very little overlap in product offerings and complementary product strategies, Epicor will continue to enhance the joint product lines with new features and functionality; while providing a clear path to next generation capabilities and enabling technologies customers will need as their businesses evolve."