Guggenheim Investments has agreed with Accel-KKR to provide debt facilities for the refinancing of Kerridge Commercial Systems.
UK-based Kerridge provides a range of trading and business management solutions for retail, wholesale, merchant and distribution markets. Some of Kerridge’s offerings include finance accounting, e-POS, document management, rebates and pricing, rapid order placement, CRM, system management, and offline trading system, among others.
The company’s technology is used by 14,000 global customers and helps to improve the business intelligence and aped up workflows.
Capital from the round will be used to support further strategic acquisitions and geographic expansion.
Accel-KKR managing director and founding partner Tom Barnds said, “Following six strategic acquisitions since our original investment in 2015, our new credit facility with Guggenheim, combined with our existing capital base, will allow KCS to aggressively execute its acquisition strategy to expand its product breadth and geographic reach in the distribution and manufacturing ERP space.”
Earlier in the year, Accel-KKR acquired a majority stake in online payments and subscription platform FastSpring. The company hopes to use the new partnership and capital to support its technology development and ‘go-to-market strategy.
Other recent investments from Accel-KKR include risk and compliance management tool Banker’s Toolbox, real estate tech platform Reapit and accounting platform Siigo.
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