Leading Technology-Focused Private Equity Firm Invests in Company to Bolster Next Wave of Growth
COLORADO SPRINGS, Colorado – October 16, 2012 – Accellos, a leading provider of supply chain execution software solutions, today announced that Accel-KKR has made a strategic equity investment in Accellos.
Accellos was founded with a vision that small and midsized business and logistics service providers were in need of a single-source supply chain software partner. This vision has manifested itself in the acquisition and integration of six supply chain software companies and the development of a unifying product technology – the AccellosOne platform. Over 3,000 companies in 27 countries now use Accellos software to power their supply chains. In order to continue execution of this strategy, Accellos founders sought a new strategic financial partner and have received an equity investment from Accel-KKR.
Accel-KKR is a leading technology-focused private equity firm with over $2.3 billion of assets under management. Accel-KKR focuses exclusively on middle market software and technology companies with strong growth profiles.
”We are excited that Accel-KKR chose to partner with Accellos,” said Michael Cornell, Accellos’ CEO. “The founders and employees at Accellos believe strongly in our strategy. This partnership validates our strategy and provides Accellos the financial resources required to execute our strategy. We want to move quickly to deliver customers a broad set of supply chain solutions tailored to the needs of the midmarket and logistics service providers.”
”Accellos represents many key characteristics of the ideal platform company for us,” said Tom Barnds and Jason Klein, Managing Directors at Accel-KKR. “We were attracted to their proven track record, market opportunity, strong leadership team, and ability to deliver product innovation both organically and through acquisition.”
Centennial Ventures, Monitor Clipper Partners, and Murphree Venture Partners were previous financial sponsors of Accellos and helped facilitate the transaction.