CVC and CD&R Close Transaction for Strategic Investment in Epicor

NEW YORK and AUSTIN, Texas, Oct. 30, 2024 /PRNewswire/ -- CVC and Clayton, Dubilier & Rice ("CD&R") today confirmed the completion of the previously announced investment in Epicor, a global provider of industry-specific enterprise software to promote business growth, following the receipt of all customary approvals. Financial terms of the transaction were not disclosed.

In August 2024, Epicor announced that its existing investment partner, CD&R, had entered into a definitive agreement to sell a significant ownership position in the company to funds managed by CVC. CD&R and CVC will have joint Board governance in Epicor.

"We look forward to working with CVC and CD&R as we continue to invest in our people, portfolio and AI-powered cognitive ERP capabilities to enhance the value we bring to our customers and communities," said Steve Murphy, Epicor CEO. "We anticipate this strategic partnership will enable us to accelerate our growth into new markets, continue to develop new cloud-ready products and support our focus in delivering for the Make, Move and Sell industries worldwide. We believe CD&R and CVC's combined operating expertise in the technology and software space will be a key driver of innovation and expansion of our business."

Barclays served as lead financial advisor, Goldman Sachs & Co. LLC served as financial advisor, and Debevoise & Plimpton served as legal advisor to CD&R and Epicor. Jefferies LLC and Evercore served as financial advisors and White & Case served as legal advisor to CVC. 

About Epicor
Epicor Software Corporation equips hard-working businesses with enterprise solutions that keep the world turning. For more than 50 years, Epicor customers in the automotive, building supply, distribution, manufacturing, and retail industries have trusted Epicor to help them do business better. Innovative Epicor solution sets are carefully curated to fit customer needs and built to flexibly respond to their fast-changing reality. With deep industry knowledge and experience, Epicor accelerates its customers' ambitions, whether to grow and transform, or simply become more productive and effective. Visit www.epicor.com for more information.

Epicor and the Epicor logo are trademarks of Epicor Software Corporation, registered in the United States and other countries. Other trademarks referenced are the property of their respective owners. The product and service offerings depicted in this document are produced by Epicor Software Corporation. Results are not guaranteed, and each user's experience will vary.

About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice (CD&R) is a leading private investment firm with a strategy of generating strong investment returns by building more robust and sustainable businesses through the combination of skilled investment experience and deep operating capabilities. In partnership with the management teams of its portfolio companies, CD&R takes a long-term view of value creation and emphasizes positive stewardship and impact. The firm invests in businesses that span a broad range of industries, including industrial, healthcare, consumer, technology and financial services end markets. CD&R is privately owned by its partners and has offices in New York and London. For more information, please visit www.cdr.com and follow the firm's activities through LinkedIn and @CDRBuilds on X/Twitter.

About CVC
CVC is a leading global private markets manager with a network of 30 office locations throughout EMEA, the Americas, and Asia, with approximately €193 billion of assets under management. CVC has seven complementary strategies across private equity, secondaries, credit and infrastructure, for which CVC funds have secured commitments of approximately €235 billion from some of the world's leading pension funds and other institutional investors. Funds managed or advised by CVC's private equity strategy are invested in approximately 130 companies worldwide, which have combined annual sales of over €155 billion and employ more than 600,000 people. For further information about CVC please visit: www.cvc.com. Follow us on LinkedIn.

SOURCE Clayton, Dubilier & Rice