CVC and Clayton, Dubilier & Rice (CD&R) 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.
“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.”
