Epicor Software Corp., the biggest provider of software to building supply firms, announced July 5 it will be acquired by the global investment firm KKR. Terms weren't revealed for the deal, which is expected to close by the end of August.
The deal marks another turn for a company that built its leading status in construction supply partly through internal gains and partly through acquisitions. Lately, it has staked its growth among big dealers with bisTrack, a system it acquired in the fall of 2012. Among smaller dealers, it has pushed its Catalyst and Eagle systems, both of which were acquired more than a decade ago.
Market share among providers of LBM software is hard to come by, but a ProSales survey conducted several years back suggested Epicor products were in half of all dealers. Other major competitors include DMSi, Ponderosa, Spruce, and--just in the past 12 months--Britain's Kerridge Commercial Systems. It has been relatively slow to move to cloud computing and software as a service, but now is eager to catch up.
“Our top priority continues to be delivering cloud-ready, market-leading solutions paired with a world-class customer experience,” said Joe Cowan, president and CEO of Epicor. “KKR shares our vision of providing innovative technology with a clear focus on helping customers grow business, not software."
Epicor operates in more than 150 countries, serving customers in manufacturing, distribution, and retail. It has been owned since 2011 by Apax Partners, an investment firm.