Accel-KKR, a technology-focused private equity firm, has sold its portfolio company Abila to Community Brands.
Accel-KKR acquired Abila in 2013 when the business, which provides software and services to associations, non-profit organisations and governmental entities, was spun-off from UK-based The Sage Group.
Following its initial investment in 2013, Accel-KKR rebranded the company, augmented the management team, and invested to build the infrastructure to position the company for significant organic growth and strategic consolidation.
During the past four years, Abila grew its revenues threefold, integrated three acquisitions to expand its product offerings in the non-profit and association sector, and transformed its revenue base to a primarily subscription-based (SaaS) model.
Dean Jacobson, managing director of Accel-KKR, says: “We are extremely proud of the leadership position Abila established under our ownership. We believed that with the right team, the right products and the right delivery model this business could grow faster and make a bigger impact for its customers. That vision was achieved. We are excited by the possibilities that Abila will have as part of Community Brands.”
“Accel-KKR was a true partner to Abila in every phase of our growth. The team provided guidance and support in a myriad of ways – from the initial carve-out to helping us build a world-class management team and beyond. We could not have successfully tripled the size of the company, creating opportunity for our employees as well as our customers without Accel-KKR,” says Craig Charlton, Abila CEO.
Tom Barnds, managing director of Accel-KKR and chairman of Abila, says: “Our experience with Abila illustrates one key tenet of our approach to investing – we are very comfortable with complex deal dynamics. Having completed more than 20 divisional acquisitions in our history, we have the capabilities, patience and expertise to complete complex transactions and then invest to help our companies accelerate their growth through both organic and inorganic means post-acquisition.”
Accel-KKR will maintain a small equity ownership position in Community Brands going forward.
