Accel-KKR acquires Smart Communications from Thunderhead

Under its new owner, the business will invest in new product development and IT infrastructure, as well as expanding into new territories. In a statement, Accel-KKR said the business would "look to Europe" for potential acquisitions.

The GP is currently investing from its fifth fund, which held a final close on its hard-cap of $1.3bn in September 2015.

Goldman Sachs Private Capital provided a debt package to support the deal.

Company
Founded in 2004, London-headquartered Smart Communications is a cloud-based content management platform for companies to administrate their communications with customers. It provides products tailored to the insurance, retail banking, utilities, healthcare, life sciences, retail and manufacturing segments.

People
Accel-KKR – Jason Klein, Tom Barnds (managing directors).
Smart Communications – George Wright (CEO).

Advisers
Equity – Kirkland & Ellis International (legal).

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