Apax sells Exact Software to KKR

The sale ends a holding period of almost four years for Apax, which acquired the company for an enterprise value of €730m in 2015.

KKR made the investment through its long-term capital programme, Core Investments. The financing was arranged and underwritten by KKR Capital Markets.

Company
Exact Software was founded in 1984 and is headquartered in Delft, the Netherlands. It provides software for accountants that is used to manage the accounts of 400,000 small businesses, according to a statement. The firm employs 1,400 people.

People
KKR – Jean-Pierre Saad (managing director); Daniel Knottenbelt (head of Benelux).
Apax Partners – Roy Mackenzie (partner).

Advisers
Vendor – Rotschild & Co (corporate finance).

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• Topics
• Buyouts
• Exits
• Benelux
• Technology
• Netherlands
• Apax Partners
• KKR
• Secondary buyout