MENLO PARK, Calif. & LONDON–(Company WIRE)–Jun 1, 2021–
Silver Lake, a world wide chief in technologies investing, these days announced that it has agreed to make a minority financial investment in Correct, a main service provider of business enterprise and accounting software package in the Benelux location. This expense will be in partnership with the administration team, led by CEO Paul Ramakers, and the company’s existing investor, KKR, which will keep on being the the vast majority shareholder.
Founded in 1984 and headquartered in Delft, the Netherlands, Exact’s modern program solutions currently support extra than 9,900 accountants deal with the funds of small and mid-dimension enterprises and provide more than 550,000 little corporations with superior worth-insert options in the cloud. Exact’s mid-sector enterprise resource organizing (“ERP”) alternatives are also utilized by above 16,000 mid-sized firms, with a preference of cloud or on-premise deployment. The firm’s integrated program suite involves Economical Administration, Logistics, CRM, HR, and Payroll. Considering the fact that the acquisition by KKR in 2019, Correct has expert immediate development and has expanded its marketplace leadership.
Jean-Pierre Saad, Lover and Head of EMEA Technology at KKR, Daniel Knottenbelt, Husband or wife and Head of Benelux at KKR and Tomas Kubica, Director Know-how Non-public Fairness at KKR, explained: “We are delighted to welcome Silver Lake as an trader together with us in Precise, a person of the major European SaaS corporations. We have found large growth in current a long time below the leadership of Paul Ramakers and the complete staff. The organization carries on to be a foremost platform to offer accounting and business software program in the Benelux region and beyond, notably with its flagship SaaS products Correct Online, and we believe that Silver Lake’s pertinent expertise will more lead to the growth and bold enlargement technique of Actual.”
Christian Lucas, Co-Head of Silver Lake EMEA, said: “Exact fits really naturally into Silver Lake’s system of investing in substantial advancement, revolutionary and globe foremost technologies organizations. Paul and the Exact team have reached a solid expansion trajectory, and we have been impressed by the superior excellent of their ideal-in-class SaaS solutions. We are enthusiastic to husband or wife with the administration workforce and KKR, 1 of the world’s major technological know-how and software program buyers, to add to the next stage of Exact’s growth in direction of achieving its total lengthy-expression potential.”
Paul Ramakers, CEO of Exact, stated: “We are proud of what Exact has now obtained with the sturdy help of the KKR staff. Alongside one another, with our remarkable crew and enterprise companions, we have constructed a successful enterprise, with a robust track history of supporting both of those accountancy firms and modest and mid-dimension businesses in Benelux. As we enter the upcoming enjoyable stage of our expansion story, we glance ahead to leveraging Silver Lake’s application domain know-how and comprehensive field network.”
The transaction is anticipated to close in the 3rd quarter topic to customary conditions and regulatory approvals. Additional phrases of the expenditure are not staying disclosed at this time.
About KKR
KKR is a foremost worldwide investment decision business that provides option asset management and cash marketplaces and insurance policy answers. KKR aims to crank out interesting expenditure returns by next a patient and disciplined investment decision approach, using earth-class men and women and supporting progress in its portfolio organizations and communities. KKR sponsors expense resources that devote in personal fairness, credit rating and serious property and has strategic partners that control hedge money. KKR’s insurance subsidiaries supply retirement, lifetime and reinsurance products and solutions beneath the management of The Worldwide Atlantic Economic Group. References to KKR’s investments may perhaps consist of the things to do of its sponsored funds and insurance policy subsidiaries. For additional info about KKR & Co. Inc. (NYSE: KKR), make sure you visit KKR’s web site at kkr.com and on Twitter @KKR—Co.
About Silver Lake
Silver Lake is a foremost world-wide engineering financial investment agency, with more than $83 billion in put together property below management and fully commited money and a staff of specialists primarily based in North America, Europe, and Asia. Silver Lake’s portfolio organizations collectively generate more than $196 billion of profits per year and hire additional than 448,000 people today globally. For a lot more information and facts about Silver Lake and its portfolio, remember to pay a visit to Silver Lake’s site at silverlake.com.
About Exact
Started in 1984 and headquartered in Delft, the Netherlands, Exact’s innovative alternatives currently aid in excess of 9,900 accountants take care of the funds of about 550,000 tiny organizations in the cloud. Exact’s mid-market business useful resource planning (“ERP”) solutions are also employed by more than 16,000 mid-sized corporations, with a choice of cloud or on-premise deployment. The company’s built-in computer software suite involves Fiscal Administration, Logistics, CRM, HR, and Payroll. Specific employs 1,850 persons. For much more info on Actual, remember to visit precise.com.
Perspective resource variation on businesswire.com:https://www.businesswire.com/news/house/20210531005304/en/
Call: KKR
Alastair Elwen / Nidaa Lone
+44 ()207 251 3801Silver Lake
Jennifer Stroud
+1-646-565-1792
Search phrase: NORTH The us UNITED STATES Ireland UNITED KINGDOM EUROPE CALIFORNIA
Market Key phrase: Software Insurance policy FINANCE CONSULTING Info Administration ACCOUNTING Specialist Services Engineering
Resource: KKR
Copyright Business enterprise Wire 2021.
PUB: 06/01/2021 02:30 AM/DISC: 06/01/2021 02:32 AM
http://www.businesswire.com/information/property/20210531005304/en
Copyright Business enterprise Wire 2021.
