Accel-KKR To Acquire Nonprofit Solutions Division Of Sage Group plc
-- Firm Also Makes Minority Investment in Swiftpage to Help Fund Its Acquisition of Sage's ACT! and SalesLogix Businesses --
MENLO PARK, Calif., Feb. 15, 2013 /PRNewswire/ -- Accel-KKR, a technology-focused private equity investment firm, today announced it has entered into an agreement to acquire Sage Nonprofit Solutions, a leading provider of accounting, donor and fundraising management, and grant management software solutions to non-profit organizations, from The Sage Group plc. Accel-KKR also announced today that it is making a minority investment in Swiftpage, the leading digital marketing platform provider for the small business market, to help fund Swiftpage's acquisition of Sage's ACT! contact management and Sage SalesLogix customer relationship management (CRM) businesses.
In the first transaction, Accel-KKR will acquire 100% of Austin, TX-based Sage Nonprofit Solutions, which helps more than 32,000 unique not-for-profit organizations, including government entities, universities, foundations, and a variety of other 501(c)3 organizations, increase efficiency and more easily manage their operations through the use of technology. Krista Endsley, senior vice president and general manager of NPS for the past four years, has been named Chief Executive Officer of the new independent company.
Separately, Accel-KKR's funding of Swiftpage to acquire Sage ACT! and Sage SalesLogix will help accelerate Swiftpage's strategy to become the leading digital marketing platform provider to small and medium-sized businesses worldwide. Upon completion of the transaction, Swiftpage will have offices in Denver, Scottsdale, and in the U.K. Sage Group also will have an equity stake in Swiftpage, which is a long-time Sage partner.
John Oechsle, the CEO of Swiftpage, said about Accel-KKR's investment, "The acquisition of Sage ACT! and Sage SalesLogix is a game changer for Swiftpage, giving us a significant presence throughout North America and Europe with award-winning products for the small and medium-sized business markets. We would not have been able to complete this complex transaction without the assistance of the team at Accel-KKR. We look forward to working with Accel-KKR to aggressively pursue the many growth opportunities available to us."
Tom Barnds, Managing Director of Accel-KKR, said, "The acquisition of Sage Nonprofit Solutions and the investment in Swiftpage to enable the acquisitions of Sage ACT! and Sage SalesLogix each fit very well with our focus on investing in market leading software and technology-enabled service businesses. We are very excited to partner with Krista, John and their respective teams to provide capital and resources to help them execute on their growth plans."
Accel-KKR is a technology-focused private equity firm with over $2.3 billion in assets 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 and provides a broad range of capital solutions from minority growth investments to buyouts, recapitalizations, divisional carveouts and going-private transactions. For more information, please visit www.accel-kkr.com.
About Sage Nonprofit Solutions
Sage Nonprofit Solutions has been serving nonprofit and governmental organizations throughout North America for more than 30 years. The company helps more than 32,000 unique not-for-profit organizations increase efficiency and more easily manage their operations through the use of technology. From fund accounting, donor and fundraising management, and grant management to online donation processing, human resources (HR), payroll and fixed asset management, Sage Nonprofit Solutions offers a software product or service to meet the organization's need. Follow Sage Nonprofit Solutions on Twitter(R) (www.twitter.com/SageNonprofit) and Facebook(R) (www.facebook.com/sagenonprofit), read its blog (www.sagewords.net) and join its community for not-for-profits (http://community.sagenonprofit.com).
Swiftpage's digital marketing platform helps small businesses grow. Its email marketing, social media marketing, and contact management solutions empower them to convert prospects, retain customers and expand their businesses. Swiftpage delivers the platform as a white label solution to partners who provide digital services to small business end users. For more information visit http://swiftpage.com.
The Sage Group plc is a leading global provider of business management software to small and medium sized companies, creating greater freedom for them to succeed. Sage understands how and why each business is unique. We provide products and services that suit varying needs, are a pleasure to use and are secure and efficient. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and entered the FTSE 100 in 1999. Sage has over 6 million customers and more than 13,500 employees in 24 countries covering the UK & Ireland, mainland Europe, North America, South Africa, Australia, Asia and Brazil. For further information please visit www.sage.com.
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