Carousel Capital, Apex’s largest shareholder, will remain a significant minority shareholder in the company alongside KKR, the companies said.
Apex serves more than 250 Fortune 500 and Forbes Global 2000 companies, claiming it protects more than $8 billion in annual spend across many of the world’s most complex supply chains.
Its offerings include overpayment and fraud prevention software, a vendor management platform and a master data management solution in global procure-to-pay processes.
Apex has experienced consistent double-digit organic growth over the past five years and has accelerated its growth thanks to the recent market disruptions of the past two years, the company said.
KKR Partner Webster Chua said, “Apex sits at the intersection of several themes that we have had strong conviction on over the past decade, including digitization and data-driven platforms, fragmentation growing global supply chains and the rise of sophisticated technology solutions and technology services that can create operational efficiencies and generate tangible cost savings. »
Carousel originally invested in apex in 2014 from its fourth fund, and in 2020 sponsored a recapitalization of the company through a unique asset continuation fund and its fifth fund.
KKR is making the investment through its North America Fund XIII, which raised a record $19 billion on its final close in April.
The transaction is expected to be finalized in the second half of 2022.
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