Accel-KKR to acquire non-profit solutions division of Sage Group
Accel-KKR, a technology-focused private equity investment firm, is to acquire Sage Nonprofit Solutions, a provider of accounting, donor and fundraising management, and grant management software solutions to non-profit organisations, from The Sage Group.
Accel-KKR also announced that it is making a minority investment in Swiftpage, a digital marketing platform provider for the small business market, to help fund Swiftpage's acquisition of Sage's ACT! contact management and Sage SalesLogix customer relationship management (CRM) businesses.
In the first transaction, Accel-KKR will acquire 100 per cent of Austin, Texas-based Sage Nonprofit Solutions, which helps more than 32,000 not-for-profit organisations, including government entities, universities, foundations, and a variety of other 501(c)3 organisations, increase efficiency and more easily manage their operations through the use of technology. Krista Endsley, senior vice president and general manager of NPS for the past four years, has been named chief executive officer of the new independent company.
Separately, Accel-KKR's funding of Swiftpage to acquire Sage ACT! and Sage SalesLogix will help accelerate Swiftpage's strategy to become the leading digital marketing platform provider to small and medium-sized businesses worldwide. Upon completion of the transaction, Swiftpage will have offices in Denver, Scottsdale, and in the UK Sage Group also will have an equity stake in Swiftpage, which is a long-time Sage partner.
John Oechsle, the chief executive of Swiftpage, says: "The acquisition of Sage ACT! and Sage SalesLogix is a game changer for Swiftpage, giving us a significant presence throughout North America and Europe with award-winning products for the small and medium-sized business markets. We would not have been able to complete this complex transaction without the assistance of the team at Accel-KKR. We look forward to working with Accel-KKR to aggressively pursue the many growth opportunities available to us."
Tom Barnds (pictured), managing director of Accel-KKR, says: "The acquisition of Sage Nonprofit Solutions and the investment in Swiftpage to enable the acquisitions of Sage ACT! and Sage SalesLogix each fit very well with our focus on investing in market leading software and technology-enabled service businesses. We are very excited to partner with Krista, John and their respective teams to provide capital and resources to help them execute on their growth plans."
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