Clayton Dubilier Rice
Assembly Line
CVC Joins CD&R as an Investment Partner in Epicor
Clayton, Dubilier & Rice and CVC, announced that funds managed by CVC have agreed to acquire a significant ownership position in Epicor, a global provider of industry-specific enterprise software to promote business growth. CD&R, which first invested in Epicor in 2020, and CVC will each have equal number of Board seats, with Jeff Hawn continuing to serve as Chairman. Steve Murphy will continue in his role as CEO of Epicor. Financial terms of the private transaction were not disclosed.
Since CD&R’s acquisition of Epicor in 2020, the company recently surpassed $1 billion in annual recurring revenue (ARR) as a result of organic growth, including a successful transformation into a SaaS-first company, as well as complementary strategic acquisitions which expanded product capabilities and geographic reach. Epicor’s SaaS transformation and 45% annual growth in SaaS ARR have been powered by significant R&D and Go-to-Market investments, while laying the groundwork for further innovation. In May 2024, Epicor unveiled its new Epicor Grow portfolio, an integrated set of artificial intelligence (AI) and Business Intelligence (BI) capabilities powered by an industry-focused data platform tuned specifically for the requirements of the Make, Move, and Sell industries. The company’s portfolio redefines how AI-powered ERP software serves the supply chain industries and their workers, and includes Epicor Prism, a patent-pending generative AI service embedded across Epicor’s Industry ERP Cloud solution.
Honeywell to Acquire Compress Controls Corporation, Driving the Energy Transition Through Leading Automation and Control Portfolio
Honeywell (Nasdaq: HON) today announced it has agreed to acquire Compressor Controls Corporation (CCC) from INDICOR, LLC, which is owned by funds affiliated with private equity firm Clayton, Dubilier & Rice, LLC and Roper Technologies, Inc., for $670 million, which represents ~15x 2023E EBITDA on a tax adjusted basis, in an all-cash transaction. CCC is a leading provider of turbomachinery control and optimization solutions, including control hardware, software and services, and primarily serves the LNG, gas processing, refining and petrochemical segments.