Get the latest market trends in your inbox
Stay on top of the latest market trends and economic insights with the Axios Markets newsletter. Sign up for free.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Minneapolis-St. Paul
Tampa-St. Petersburg news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa-St. Petersburg
Illustration: Eniola Odetunde/Axios
Clayton, Dubilier & Rice has agreed to buy Texas-based business management software company Epicor Software from KKR for $4.7 billion (including debt).
Why it matters: It's the largest enterprise software deal so far in 2020. It's also a big win for KKR, which tried but failed to sell Epicor last year.
- ROI: KKR bought Epicor in 2016 from Apax Partners for around $3.3 billion (including debt), and it recently extracted $560 million via a $1.7 billion dividend recap.
The bottom line: "The company, which makes back-office and sales software for manufacturing, distribution, retail and service-industry customers ... has completed a number of acquisitions under KKR’s ownership. Those include deals for electronic-data interchange software maker 1 EDI Source Inc. and warehouse-management software provider Majure Data," writes the Wall Street Journal's Miriam Gottfried.