Private equity firm Apax Partners has sold its stake in Exact Software to KKR, the global investment firm.
Exact was founded in 1984 and provides business and accounting software to accountants and small businesses in the Benelux region. Its enterprise resource planning (ERP) solutions are also used by over 18,500 mid-sized firms.
The business is headquartered in the Netherlands and employs 1,400 people in 12 countries. Apax invested in Exact in 2015 and since then the business has grown significantly.
Phill Robinson, CEO of Exact Software, said: “We have a strong market position in the Benelux region, and a rich heritage. Our plan is to continue to build on our success and in particular become the national champion in our home markets, helping Dutch and Belgian SMEs and Accountants – making a difference to their business every day.”
Roy Mackenzie, Partner at Apax Partners, added: “We are delighted that our close work with management, through a range of organic growth and M&A initiatives, has improved Exact’s strategic presence and growth profile.”