KKR buys out Epicor, with Bensalem offices, for reported $3.3 billion; Prophet 21's legacy

Tom Paine

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Epicor Bensalem Offices

Today PE giant KKR said it was acquiring Epicor from another PE firm, Apax Partners. Epicor provides vertical market ERP solutions. Bloomberg reported the price to be about $3.3 billion.


The Philly area has a presence within Epicor originating from Activant Solution's 2005 acquisition of Prophet 21, then based in Yardley, Bucks County, for a reported $215 million. Prophet 21's strengths were in retail and distribution, markets Epicor is still strong in. Epicor still uses the Prophet 21 brand name with some products. Activant was merged with Epicor in 2011 by Apax, in a $2 billion deal.  

In 2013 Epicor relocated its area operations from Yardley to Bensalem. At the time, it reported headcount there of 200.

Epicor is based in Austin.

There seems to be consensus that under current CEO Joe Cowan, Epicor has been successful in moving its focus to the Cloud. The challenge for Epicor has been developing an overarching product strategy out of various acquired parts.

Bloomberg noted that this is KKR's largest tech acquisition since 2007. It was 11 yesrs ago that KKR participated in the $11 billion LBO of SunGard Data Systems, that was just unwound last year.

Dennis Howlett on Epicor for Digimonica.