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INDUSTRY NEWS Activant deal
(Continued from Apax, page 1.) Activant is currently owned by invest- ment funds affiliated with Hellman & Friedman LLC, Thoma Bravo LLC and JMI Equity, and by management. Apax also announced that it is has entered into a definitive agreement under which funds advised by Apax will acquire Epicor Software Corpo- ration, a provider of enterprise busi- ness software solutions for the mid-market and the divisions of global 1000 companies. Apax intends to combine Activant with Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distri- bution, services and retail sectors. Following completion of the merger, the combined company will be called Epicor Software Corporation. “This transaction is extremely posi-
tive for Activant’s customers, employ- ees and investors alike,” said Pervez Qureshi, Activant president and CEO. “Our market leadership and expertise in distribution perfectly complements
Epicor’s expertise in the manufactur- ing and services sectors. Together, Ac- tivant and Epicor’s retail business solutions can now cover the full spec- trum of retailing — from small hard- lines retailers, to national specialty softgoods and apparel chains, to global general merchandise department stores. Additionally, with Epicor’s worldwide infrastructure, we will have the opportunity to service and support Activant products internationally, which is very important as our cus- tomers compete in an increasingly global business environment. “With Apax, we are partnering
with one of the premier investment firms in the world and one that is very much focused on growth and deliver- ing value to the customers of its port- folio companies. The combined company will have over 30,000 cus- tomers, $825 million in annual rev- enues, and the most visionary business application software and vertical industry expertise in the mar- ket today. Apax is committed to growing the businesses in which they invest and has an excellent track
record of working as a strategic part- ner with management to build high- growth companies.” Under the terms of the agreement,
all of Activant’s outstanding shares and stock options will be acquired for cash. Upon completion of the trans- action all of Activant's outstanding 9- 1/2% Senior Subordinated Notes will be redeemed and Activant’s senior se- cured indebtedness will be repaid. Apax has received debt commitment letters from Bank of America, N.A. and Royal Bank of Canada to provide the debt necessary to close the acqui- sitions. The acquisition of Activant is conditioned upon the concurrent clos- ing of Apax’s acquisition of Epicor, the expiration of the waiting period under the Hart-Scott-Rodino An- titrust Improvements Act and other customary closing conditions. Acti- vant expects that the acquisitions will close by the end of the second calen- dar quarter of this year. “We are extremely excited to be bringing together two of the premier enterprise software companies to cre- ate a global market leader,” said Jason
•THE WHOLESALER® —MAY 2011
Wright, a partner at Apax Partners. “Activant and Epicor are both true in- novators and extremely well posi- tioned in the enterprise applications software space. Both Epicor and Acti- vant customers will benefit from the combined entity’s increased scale, so- lutions portfolio and expanded service offerings. Epicor will gain access to significant additional domain expert- ise, particularly in hardlines retail, au- tomotive and wholesale distribution, while Activant will benefit from an ac- celerated roadmap to international op- erations and additional supply chain and manufacturing functionality. “In addition to the immediate prod-
uct and service portfolio enhance- ments, both companies’ customers will further benefit from the strong fi- nancial backing of Apax Partners and our commitment to building the new Epicor into the global leader for en- terprise business applications in man- ufacturing, distribution, retail and services. We look forward to partner- ing with the management team and to providing the resources and support that can accelerate the growth and ex- pansion of the business and the value it creates globally.” Visit
www.activant.com, or www
.apax.com.
CONGRATS! (Continued from page 66.) forecasts and on meeting the master
production schedule requirements. Reliance Worldwide has added
two regional sales managers to sup- port the continued growth of its SharkBite and Cash Acme plumbing product brands: • Industry veteran Mark Kleinhenz
was named Northeast regional sales manager. Kleinhenz joins Reliance from Connecticut-based distributor Plimpton & Hills Corp., and previ- ously served with Blanco America. • Brian Clark will serve as Western regional sales manager. Clark has an extensive background that includes po-
sitions with Kohler Co. and Husqvarna. Victoria + Albert appointed Eric
See contact information on page 102 • Be sure to visit
www.thewholesaler.com for web exclusive articles and videos! •
Phelps national specification & train- ing manager. Phelps is an experienced sales and marketing professional with over 15 years of experience, including positions with Kohler Co. and Robern. He will be respon- sible for develop- ing and strengthen ing relationships with key architects, de- signers and speci- fiers, as well as working with ac- counts and training the U.S. sales force.
Eric Phelps n
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