Silver Lake Announces Strategic Investment in Specific | Small business
4 min readMENLO PARK, Calif. & LONDON–(Business enterprise WIRE)–Jun 1, 2021–
Silver Lake, a world wide leader in technological innovation investing, right now introduced that it has agreed to make a minority expenditure in Precise, a top supplier of enterprise and accounting application in the Benelux area. This financial commitment will be in partnership with the administration workforce, led by CEO Paul Ramakers, and the company’s present trader, KKR, which will stay the greater part shareholder.
Established in 1984 and headquartered in Delft, the Netherlands, Exact’s modern computer software remedies now assistance more than 9,900 accountants take care of the funds of small and mid-sizing enterprises and supply in excess of 550,000 modest businesses with high worth-insert alternatives in the cloud. Exact’s mid-market place company resource preparing (“ERP”) remedies are also utilised by above 16,000 mid-sized firms, with a preference of cloud or on-premise deployment. The company’s integrated computer software suite includes Economic Administration, Logistics, CRM, HR, and Payroll. Since the acquisition by KKR in 2019, Correct has experienced fast development and has expanded its current market management.
Jean-Pierre Saad, Lover and Head of EMEA Know-how at KKR, Daniel Knottenbelt, Partner and Head of Benelux at KKR and Tomas Kubica, Director Know-how Private Fairness at KKR, stated: “We are delighted to welcome Silver Lake as an investor alongside us in Specific, one particular of the top European SaaS firms. We have observed huge progress in recent many years underneath the leadership of Paul Ramakers and the overall group. The company carries on to be a main platform to provide accounting and business enterprise computer software in the Benelux location and further than, notably with its flagship SaaS product or service Precise Online, and we think that Silver Lake’s applicable encounter will additional lead to the growth and formidable enlargement strategy of Correct.”
Christian Lucas, Co-Head of Silver Lake EMEA, stated: “Exact suits quite in a natural way into Silver Lake’s tactic of investing in significant development, progressive and world primary technological innovation providers. Paul and the Exact workforce have realized a powerful growth trajectory, and we have been impressed by the large high-quality of their most effective-in-course SaaS options. We are excited to partner with the management group and KKR, one particular of the world’s top technology and software program buyers, to contribute to the following phase of Exact’s improvement in direction of accomplishing its complete long-time period probable.”
Paul Ramakers, CEO of Precise, mentioned: “We are happy of what Actual has already accomplished with the sturdy help of the KKR team. With each other, with our exceptional workforce and small business partners, we have built a successful small business, with a potent observe record of supporting equally accountancy companies and compact and mid-dimensions companies in Benelux. As we enter the following remarkable phase of our advancement tale, we search forward to leveraging Silver Lake’s application domain abilities and in depth marketplace community.”
The transaction is anticipated to shut in the 3rd quarter topic to customary problems and regulatory approvals. Additional phrases of the expenditure are not becoming disclosed at this time.
About KKR
KKR is a primary world investment decision organization that provides substitute asset management and funds markets and insurance coverage options. KKR aims to deliver eye-catching investment decision returns by adhering to a individual and disciplined investment decision solution, employing entire world-course men and women and supporting expansion in its portfolio businesses and communities. KKR sponsors financial investment cash that invest in non-public fairness, credit and true assets and has strategic companions that regulate hedge resources. KKR’s coverage subsidiaries provide retirement, existence and reinsurance merchandise beneath the administration of The International Atlantic Fiscal Team. References to KKR’s investments may contain the routines of its sponsored money and insurance policy subsidiaries. For more details about KKR & Co. Inc. (NYSE: KKR), make sure you go to KKR’s internet site at kkr.com and on Twitter @KKR—Co.
About Silver Lake
Silver Lake is a foremost world-wide technological know-how investment agency, with additional than $83 billion in put together property underneath management and fully commited funds and a team of specialists based in North The usa, Europe, and Asia. Silver Lake’s portfolio organizations collectively create more than $196 billion of revenue yearly and utilize additional than 448,000 men and women globally. For a lot more information about Silver Lake and its portfolio, be sure to stop by Silver Lake’s site at silverlake.com.
About Exact
Launched in 1984 and headquartered in Delft, the Netherlands, Exact’s revolutionary solutions right now aid more than 9,900 accountants take care of the finances of about 550,000 compact firms in the cloud. Exact’s mid-current market company useful resource setting up (“ERP”) options are also used by above 16,000 mid-sized firms, with a option of cloud or on-premise deployment. The firm’s integrated application suite features Money Management, Logistics, CRM, HR, and Payroll. Exact employs 1,850 people. For extra data on Exact, you should take a look at exact.com.
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Make contact with: KKR
Alastair Elwen / Nidaa Lone
+44 ()207 251 3801Silver Lake
Jennifer Stroud
+1-646-565-1792
Search phrase: NORTH The united states UNITED STATES Eire UNITED KINGDOM EUROPE CALIFORNIA
Marketplace Search phrase: Software program Coverage FINANCE CONSULTING Details Administration ACCOUNTING Experienced Providers Technology
Resource: KKR
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PUB: 06/01/2021 02:30 AM/DISC: 06/01/2021 02:32 AM
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