News & Insights

Accel-KKR Credit Partners Provides Financing to Support Tactiq’s Acquisition of GlobalWorx

Menlo Park, CA & Richmond, VA – June 26, 2024 – Accel-KKR Credit Partners today announced that it has provided financing to support Tactiq’s acquisition of Globalworx. Accel-KKR Credit Partners is a private credit fund managed by Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.

“We are thrilled to welcome the Globalworx team to Tactiq, enabled in part by financing from Accel-KKR Credit Partners,” said Mark Devooght, CEO of Tactiq. “We believe the combination of Tactiq and Globalworx offers a unified platform for the direct store delivery (DSD) ecosystem that will modernize retailer, manufacturer and distributor operations. We will merge our product roadmaps to seek to offer the best technology to both customer bases and accelerate solving the unique needs of the DSD industry.”

Founded in 2004, Tactiq provides DSD technology that streamlines communication and operations through collaboration technology between retailers, manufacturers, and distributors. Tactiq focuses on preventing and remedying out-of-stocks, which have become increasingly common with the “buy online, pick up in store” trend. Tactiq’s software is used in 45,000+ stores nationwide and primarily serves dollar stores and pharmacies. DSD items typically represent 30% of store SKUs but over 50% of store profits. Accordingly, out-of-stocks have an outsized impact for retailers.

In 2021, Tactiq was acquired by Parkhill Capital, a search fund led by Mark Devooght, with Pacific Lake Partners serving as the anchor investor.

Globalworx was also founded in 2004 and is headquartered in Richmond, VA. The company provides a complementary product to Tactiq: Globalworx also offers a software solution to manage out-of-stock items and communication channels between the DSD players; however, Globalworx primarily serves the grocery segment. The combined company offers a unified platform that will be particularly helpful for vendors that serve both retailer segments.

“We are pleased to support Tactiq in its endeavor to grow and continually add value to its customer base,” said Samantha Shows, Managing Director at Accel-KKR. “Communication is key to any relationship, and the DSD ecosystem is no exception. Facilitating collaboration and coordinating operations between three external parties is not an easy feat, but having technology in place like Tactiq makes it feasible. Tactiq not only helps its customers drive growth, but also ensures that consumers get the product they need when they want it.”.

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About Tactiq:

Tactiq, formerly DSD Partners, is on a mission to eliminate the headaches and hassles of retail with a focus on the DSD distribution model. Retailers, manufacturers, and distributors deal with poor communication, out-of-stocks, invoicing errors, and price book challenges. These problems hurt your sales, profits, and customer loyalty. At Tactiq, we believe the DSD model can be done better. And we believe shoppers deserve much better. We get it. Inefficiencies cause many challenges in business. The last thing you want is to lose money or customers because of poor direct store delivery systems and processes. That’s why for over two decades, Tactiq has been developing technologies and providing services that maximize operational efficiencies. We’ve worked with leading manufacturers, distributors, and retailers across the country, reaching over 45,000+ stores. Win retail with smart technology, simplified services, and profitable DSD. Learn more at www.tactiqtech.com

About Accel-KKR:

Accel-KKR is a technology-focused investment firm with over $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, Chicago, London, and Mexico City. Visit accel-kkr.com to learn more.

About Accel-KKR Credit Partners:

Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institutionally-owned businesses.  The debt capital is used to support acquisitions, dividends, shareholder buy-backs, and growth investment. Accel-KKR Credit Partners has completed over 60 investments and has deployed over $1 billion in capital.