Category: News

Yes Energy Acquires Power Settlements

Investment Type

Yes Energy Acquires Power Settlements

Accel-KKR | Apr 23, 2024

BOULDER, CO – April 23, 2024 – Yes Energy, a leader in power markets data, today announced the acquisition of Power Settlements. The combination of Power Settlements and Yes Energy will add value for physical power asset owners and operators by providing near real-time performance tracking and portfolio analysis tools alongside comprehensive Independent System Operator (ISO) market data and analysis tools.

The addition of a bid-to-bill software system will provide power market participants an end-to-end solution, streamlining the data analysis, trade submission and portfolio analysis workflows for physical power transactions, primarily in Western markets (CAISO, WEIM, as well as MISO).

“The Power Settlements acquisition will enable us to help our existing customers with a broader set of the functionality needed for day-to-day participation in the power markets, as well as support a rapidly growing number of market participants,” said Michael McNair, CEO of Yes Energy. “Providing a comprehensive workflow solution to our customers requires supporting all types of market participant ISO and bilateral transactions. We can make this possible by combining Yes Energy’s robust data, analytics and forecast offerings with Power Settlements’ comprehensive market transaction services. Together, we can ensure customers have the right tools to optimize their physical and financial portfolios.  Transactions are arguably the most important part of the workflow in the complex nodal markets, and working together, we believe we can provide an exceptional and reliable service for all RTOs.”

Founded in 2007, Power Settlements develops and refines software that streamlines and automates energy supply operations, enhances user experience and productivity, and delivers high ROI and bottom-line results to maximize enterprise success. Power Settlements strategically partners with power market participants to deliver the tools and insights required to improve and achieve a renewable, resilient energy future.

“Yes Energy has traditionally supported analytics and portfolio management services for the financial side of our customers’ books, i.e. virtual and FTR transactions. The Power Settlements team brings extensive market expertise and valuable solutions that will enable us to better serve our customers’ physical transactions as well,” added McNair. “Additionally, Power Settlements’ deep commitment to customer service aligns well with Yes Energy’s commitment to help our customers Win the Day Ahead.™ We have completed several acquisitions lately, but one thing they all have in common is that they are all customer-first organizations.”

David Dan, president of Power Settlements added, “Our deeply experienced team of business analysts, software developers and project managers has always been committed to the accuracy, reliability and ease of use of our solutions. We are proud to be joining the Yes Energy team, which is equally committed to those values as we look for new opportunities to serve participants in deregulated power markets.”

About Power Settlements:

Power Settlements provides software solutions to energy companies that participate in organized wholesale power markets. Power Settlements’ SettleCore™ system is a leading bid-to-bill system that incorporates robust functionality for bidding, scheduling, ISO data downloading, shadow settlements, reporting, and visual analytics. SettleCore™ is in use at investor-owned utilities, municipalities, cooperatives, independent power producers, community choice aggregators, and hedge funds. Power Settlement’s staff is comprised of business analysts and software developers who have deep experience in deregulated power markets. For more information, visit https://powersettlements.com.

About Yes Energy:

Yes Energy is a leader in power market data and provides innovative solutions to help traders, power companies, utilities and asset developers make sense of the complex, rapidly changing power market. Yes Energy provides robust, accurate and timely data, and comprehensive tools to help customers navigate the markets and make the right decisions every day. It’s time to Win the Day Ahead™ and only Yes Energy provides customers with the unique combination of better data, better delivery, and better direction needed to do that. Learn more at yesenergy.com.

Aico Receives Majority Equity Investment from Global Software Investor Accel-KKR

Investment Type

Aico Receives Majority Equity Investment from Global Software Investor Accel-KKR

Accel-KKR | Apr 03, 2024

New investment propels Aico into a new phase of market expansion in Europe, bringing automation, transparency, and control to the financial close process for large enterprises.

Helsinki, FINLAND, London, UK & Menlo Park, CA – 3 April 2024 – Accel-KKR, a global technology-focused investment firm, today announced a majority equity investment in Aico Group (also “Aico”), an end-to-end financial close software platform for large enterprises. With this investment, Accel-KKR will join current investor Juuri Partners as backers of Aico.

With this investment, Aico will seek to bolster its market expansion across Europe, especially in the DACH region, and continue to develop and strengthen its financial close platform. The company currently serves leading European enterprise customers, such as AkzoNobel, International Airlines Group (IAG), Syngenta, Outokumpu, SKF, and other companies in the Fortune 500.

According to FSN, only 11% of companies have completely transformed their financial reporting process. Yet, despite having extremely complex and unique processes and handling hundreds of thousands of financial-related documents per year on average, many finance departments have a low level of automation and inefficient disconnected spreadsheets holding systems together. This leads to hectic and error-prone work to close the accounts at month’s end.

Aico’s end-to-end SaaS platform addresses highly complex, multi-national, and multi-ERP back-office configurations with tight integration to these systems. Aico stands out against other players in the market due to its configurability, which makes Aico’s platform highly adaptive to its enterprise clients’ complex environments and needs, its user-friendly single platform approach, and a unique ability to push and pull data in real-time to other systems, including ERPs. This means that businesses gain quicker and more accurate financial close, and accounting teams gain more transparency and control over their workflow and have time to focus on more strategic and high-value work.

“We have come a long way with Juuri, from a business focused mainly on the local Finnish market to a truly multi-national enterprise SaaS company. I have valued the systematic, hands-on, open, and constructive cooperation with the Juuri team. I am truly excited to have the deep software experience that Accel-KKR will bring to support our management team. We are very pleased to have two experienced growth investors advancing our journey to become a major player in the financial close automation market,” said Marko Voutilainen, CEO of Aico Group.

“Aico has created strong momentum in the financial automation market and has garnered impressive client wins in the competitive Office of the CFO market,” said Maurice Hernandez, Managing Director at Accel-KKR.

“Its differentiated technology solutions are mission critical to accounting and finance teams in the record-to-report segment. We appreciate the confidence that Aico and Juuri Partners have placed in us as partners, and we look forward to bringing Accel-KKR’s deep software and growth experience to help Aico take its growth to the next level,” he continues.

Juuri Partners originally invested in Aico in 2016. Over the last few years, it has worked with Aico to expand across Europe, including the UK and Germany, to support growth in these markets. Since Juuri Partners’ investment, Aico has built a strong international footprint and expanded its ARR base almost tenfold.

“Aico’s financial close automation platform is extremely competitive in the global market. Customer feedback has been consistently positive since its founding. Over the last few years, we have spent a significant amount of time identifying the perfect partner to achieve Aico’s full potential. We are very excited to have Accel-KKR as our partner going forward. Since the very first meetings with AKKR, we had a strong alignment and conviction on how to accelerate value creation to customers and other stakeholders,” remarked Juuri Partners’ Partner Tapani Varjas. Juuri Partners and the management team continue as significant minority owners alongside Accel-KKR.

In 2023, data from Aico’s platform showed that a typical large customer’s accounting team uses Aico to processes 500,000 documents yearly, saving over 6,000 hours of work time. In addition, Aico prevents thousands of errors in financial journals. Aico also found that accounting teams need to produce 2-3x more documents in Nov and Dec than during the rest of the year, highlighting the need for automated closing task managers, account reconciliations, intercompany invoicing, and journal entries.

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About Aico Group:

Aico is an advanced financial close platform for large enterprises. Aico helps companies take control of their hectic closing processes, empowering financial teams and freeing time for other important activities. Its customers, including leading European enterprises, achieve a high level of automation and standardization of processes, faster month-end financial reporting, and assurance of compliance and data accuracy. Established in 2019 in Espoo, Finland, Aico has offices in Finland, Germany, the UK and Latvia. For more information, visit www.aico.ai.

About Juuri Partners:

Juuri Partners manages two private equity funds with approximately €200 million in cumulative capital commitments. Juuri Partners supports entrepreneurs in building success stories and invests in exceptional small and medium-sized companies in Finland. Juuri Partners offers a business development concept that combines growth financing, active ownership and strategic business support. The investor base for the funds comprises of Finnish and international institutional investors. Visit www.juuripartners.fi to learn more.

About Accel-KKR:

Accel-KKR is a technology-focused investment firm with $19 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses well-positioned for top-line 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, London and Mexico City. Visit accel-kkr.com to learn more.

ESG Acquires Whitestar to Extend Land Offering with High-Fidelity GIS Data and Mapping Technology

Investment Type

ESG Acquires Whitestar to Extend Land Offering with High-Fidelity GIS Data and Mapping Technology

Accel-KKR | Mar 18, 2024

Company Extends Its Market-Leading Technology Platform to Help
Energy Providers Gain Maximum Value from their Land Assets

MANCHESTER, England, BOSTON, and DENVER, March 13, 2024 — ESG, a global leader in energy SaaS solutions, today announced the acquisition of Whitestar, the leading provider of infrastructure planning, data and software products for green energy, oil & gas, utility, telco, rail, mining, and forestry services. This eighth acquisition for ESG adds project evaluation capabilities to ESG’s market-leading asset infrastructure data management product suite.

ESG provides a complete software platform for energy providers, enabling critical solutions in market and asset management in North America and the United Kingdom. ESG combines a SaaS architecture, flexible integration and continuous innovation with sector expertise and decades of experience to provide the most adopted software platform in global energy markets, including energy retail and renewables. The company serves over 800 blue chip energy players and over 40 million end users worldwide.

Matt Hirst, CEO of ESG, said, “ESG provides innovative software solutions across the energy ecosystem. Our market and technology expertise help energy retailers, traders, and asset infrastructure companies to thrive in an ever-changing environment. With the addition of Whitestar, we will help customers to
simplify their biggest land mapping challenges and improve land-related business decisions based on data insights. This acquisition also enables customers to use the full ESG Pandell asset infrastructure data management product suite in order to optimize land operations. We are excited to welcome the talented Whitestar team to ESG to create innovative solutions that help organizations to more effectively manage the entire lifecycle of land assets.”

Whitestar offers infrastructure planning data and software products that automate land mapping for the renewables, oil and gas, midstream, utilities, telco, railroad and forestry market segments. The company offers the highest quality land and most extensive survey data, surface ownership parcel information, and culture data (roads, rivers, boundaries, etc). The data is delivered by user-specified AOI, format, and coordinates. The data can be delivered as ArcGIS web streams and includes hundreds of attributes available nowhere else.

Dan O’Connor, Whitestar Director and Contour Ridge Managing Partner added, “Too often, the companies that produce and move energy, renewables, and natural resources lack critical insights about the land they own, operate, and use. As a result, they are unable to make effective decisions such as evaluating new projects. By combining forces with ESG, our products will provide those critical insights to more energy and renewable companies, so that organizations can use a single product suite to manage the entire land value chain including comprehensive project evaluation, acquisition, development, production, billing, financial reporting and more. I am excited about the new opportunities for ESG and Whitestar customers and employees.”

Together, ESG and Whitestar serve companies throughout the energy and land value chain, driving operational efficiency and growth opportunities for their customers.

About ESG
Energy companies rely upon ESG solutions to grow revenue, increase efficiency, and facilitate business innovation. ESG provides the broadest energy sector market and meter data management to deliver an energy transition platform that optimizes the customer-to-cash process for utilities, pipeline and storage,
and retail energy providers. The company provides a full suite of financial, land, and field solutions that enable oil and gas producers, pipelines, renewables, and utilities companies to efficiently track and manage their business operations with less staff. Across sectors, ESG automates complex, time-consuming processes with an integrated suite of tools to reduce the cost to serve and increase efficiency
through data and insights to get results that matter. ESG is SOC 2 certified in North America and ISO9001/27001 in the United Kingdom. We put the power of data in your hands. ESG is backed by Accel-KKR, a global software-focused private equity firm with US$19 billion in cumulative capital commitments. Visit www.esgglobal.com to learn more.

About Whitestar
Whitestar Corporation is the preeminent provider of infrastructure planning data and software products. Over the past decade, the company has helped green energy, oil & gas, pipelines, utility, and forestry services companies to digitize and spatialize land data records. Whitestar’s seamless, accurate, and current map data enables clients to create business opportunities and reduce risk. Whitestar is backed by Contour Ridge, a Texas based private equity firm that provides founder-led businesses the capital and support they need to take their businesses to the next level. For more information, visit www.whitestar.com.

Accel-KKR to Acquire Accertify from American Express

Investment Type

Accel-KKR to Acquire Accertify from American Express

Accel-KKR | Jan 16, 2024

Technology Leader in Fraud Prevention to Become Independent Entity Post-Closing

Menlo Park, CA & Itasca, IL – Jan 16, 2024 – Accel-KKR, a technology-focused private equity firm, today announced that it has reached an agreement with American Express (NYSE: AXP) to acquire Accertify, a wholly owned subsidiary. Accertify is a leading provider of fraud prevention, chargeback management, account protection, and payment gateway solutions. Accertify’s advanced technologies help protect many businesses and increase their operational efficiency. The customers of the business include 40% of the Top 100 online retailers, major global airlines, prominent sports betting platforms, and more. The investment will enable Accertify to accelerate its growth and product innovation in the global fraud prevention market as an independent entity. Terms are not disclosed.

According to a report by Fortune Business Insights, the global fraud detection and prevention market size was valued at $36.9 billion in 2022 and is projected to grow from $44.0 billion in 2023 to $182.7 billion by 2030, exhibiting a CAGR of 22.6% during the forecast period. This growth is driven by the increase in global e-commerce and the corresponding increase in spending by companies across diverse industries on fraud solutions to protect consumers while driving down the total cost of fraud. Accertify, with the support of Accel-KKR, is well-positioned to tackle these threats head-on and continue driving innovation in the fight against fraud.

“Since our inception, Accertify has focused on the success of our customers, constantly delivering value and helping them grow. I am so proud of our team’s accomplishments. We are excited to write our next chapter with Accel-KKR,” said Mark Michelon, President of Accertify. “We have experienced tremendous growth and accomplished so much with American Express; our thanks to Amex for their support and leadership.”

Accertify’s market-leading visibility, control and configurability features are prized by fraud teams in many of the largest blue-chip e-commerce global merchants. With Accel-KKR’s support, Accertify will continue to leverage its expertise in fraud prevention to accelerate growth and capitalize on digital advances in artificial intelligence and machine learning. This will enable Accertify to develop innovative fraud prevention solutions that meet the evolving needs of its customers.

Michelon continued, “The market’s need for trusted fraud prevention technology only continues to grow.​ This is especially true as we navigate growing e-commerce volumes, new payment methods, and more sophisticated fraud schemes.​ The business will continue to add value and innovate for its customers and remain an outstanding place to work for Accertify colleagues.”

“Accertify‘s proven expertise in fraud prevention and chargeback management, combined with market-leading solutions and enviable consortium of clients position the company to deliver next-generation products and market innovation. Accertify helps customers reduce fraud and chargeback costs, and ultimately increase revenue,” said Park Durrett, Managing Director at Accel-KKR. “We are thrilled to partner with the entire team at Accertify on its next phase of growth.”

Accel-KKR’s track record in technology investing and successful large corporate divestitures was influential in American Express’ decision to partner with the firm.

Lisa Marchese, head of Corporate Development at American Express said, “Accel-KKR’s knowledge and expertise in helping technology companies grow is an important consideration as Accertify embarks on the next step in its journey.”

Kirkland & Ellis LLP served as legal advisor to Accel-KKR.

Barclays served as exclusive financial advisor and Cleary Gottlieb Steen & Hamilton LLP served as legal advisor to American Express.

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About American Express

American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, X.com/americanexpress, and youtube.com/americanexpress.

Key links to products, services and corporate sustainability information: personal cards, business cards and services, travel services, gift cards, prepaid cards, merchant services, Accertify, Business Blueprint, Resy, corporate card, business travel, diversity and inclusion, corporate sustainability and Environmental, Social, and Governance reports.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $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, London, and Mexico City. Visit accel-kkr.com to learn more.

Cautionary Note Regarding Forward-Looking Statements

This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. The forward-looking statements, which address current expectations regarding the expected timing for closing the transaction, among other matters, contain words such as “believe,” “expect,” “anticipate,” “intend,” “plan,” “aim,” “will,” “may,” “should,” “could,” “would,” “likely,” “continue” and similar expressions. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. American Express undertakes no obligation to update or revise any forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements include, but are not limited to, the following: events impacting the likelihood and timing of the completion of the transaction, such as regulatory and other approvals, consultation requirements, the execution of ancillary agreements, the cost and availability of financing for the purchaser to fund the transaction and the potential loss of key customers, vendors and other business partners. A further description of such factors can be found in American Express’ Annual Report on Form 10-K for the year ended December 31, 2022 and the company’s other reports filed with the SEC.

Yes Energy Acquires TESLA, Inc., Leader in Global Forecasting Solutions

Investment Type

Yes Energy Acquires TESLA, Inc., Leader in Global Forecasting Solutions

Accel-KKR | Jan 04, 2024

The combination of TESLA, Inc. and Yes Energy will create an integrated solution for load forecasting and analytics in the highly data-intensive power markets.

BOULDER, CO, UNITED STATES, January 4, 2024 — Yes Energy, a leader in power market data, today announced the acquisition of TESLA, Inc. The combination of TESLA, Inc. and Yes Energy will add tremendous value to power market analysts by creating an integrated solution for load forecasting and analytics in the highly data-intensive power markets. These power demand forecasts will help Yes Energy’s customers better understand how demand will impact power market prices given the extent of supply and transmission congestion.

“One of the hardest things traders need to do every day is to understand how local weather, renewable generation, market economics, and consumer behavior intersect to affect the demand for electricity in the near future,” said Michael McNair, CEO of Yes Energy. “We are excited to welcome TESLA, Inc. to Yes Energy to help our customers solve that problem.”

TESLA’s long history of providing highly reliable demand forecasts to power companies around the world, plus Yes Energy’s industry-leading data platform creates a powerful combination for traders, marketers, and operators, who can now see projections of electricity demand in the full context of surrounding power market data. “This is a powerful partnership because both companies share a passion for helping customers decipher complex power markets,” added McNair.

Founded in 1992, TESLA Forecasting Solutions are widely recognized as a market leader for demand forecasts. With a deep bench of demand forecast experts, customers rely on TESLA’s team to glean insight into the “why” behind market forecasts. TESLA, Inc. has built its reputation as the global leader for power market forecasting on data integrity, with the most thorough and advanced algorithms honed over the past three decades.

TESLA’s global footprint and reputation as the most reliable provider of demand forecasts combined with Yes Energy’s leading data delivery capability creates an opportunity to provide value to power market analysts around the world as competitive, data-intensive markets continue to rapidly evolve.

“The energy transition is happening around the globe, adding complexity to traditional demand forecasting models. We believe we can provide new actionable insights for our customers to help accelerate the energy transition and the formation of competitive markets by combining Yes Energy’s core capabilities with TESLA’s forecasting capabilities,” added McNair. “Yes Energy prides itself on helping customers Win the Day Ahead through Better Data, Better Delivery, and Better Direction, and TESLA clearly complements these capabilities.”

John Sneed, Co-founder and Group President of TESLA, Inc. added, “As we embark on the next chapter of our growth, it was important for our team and TESLA’s clients that we find a partner that shares our core values, which center on providing the best market intelligence available coupled with a commitment to our clients to provide them with the best service possible. We look forward to teaming with Yes Energy as we continue to develop new capabilities to serve our customers in the years ahead.”

About TESLA, Inc.:
TESLA, Inc. is a global leader in energy forecasting solutions. With over three decades of experience, TESLA serves over 200 utility clients globally. TESLA Forecasting Solutions has been a leading name in electricity and gas demand forecasting since 1992. With clients across the globe and offices in the US, UK, NZ, Romania, and Japan, TESLA, Inc. is known for its niche expertise and innovative solutions. For more information, visit https://www.teslaforecast.com/.

About Yes Energy:
Yes Energy is a leader in power market data and provides innovative solutions to help traders, power companies, and asset managers and developers make sense of the complex, rapidly changing power market. Yes Energy provides robust, accurate and timely data, and comprehensive tools to help customers navigate the markets and make the right decisions every day. It’s time to Win the Day Ahead™ and only Yes Energy provides customers with the unique combination of Better Data, Better Delivery, and Better Direction needed to do that. Learn more at yesenergy.com.

ESTELA Continues to Strengthen Regional Reach in Digital Compliance with Acquisition of Peruvian Software Company TCI

Investment Type

ESTELA Continues to Strengthen Regional Reach in Digital Compliance with Acquisition of Peruvian Software Company TCI

Accel-KKR | Dec 18, 2023

Mexico City, MX & Lima, PERU – December 18, 2023 – ESTELA, a technological leader in digital compliance in Ibero-America, today announced the acquisition of Peruvian tax compliance software company TCI. ESTELA is a market-leading tax compliance software platform in Latin America. ESTELA is backed by Accel-KKR, a global software-focused private equity firm with US$19 billion in cumulative capital commitments. This acquisition builds on ESTELA’s vision to support economic progress in the Latin American region through digital compliance and transparency software solutions.

The tax regulatory landscape of Peru requires mandatory use of electronic invoices among other initiatives. This requirement offers ESTELA with a unique opportunity to combine its expertise in digital compliance in Latin America and solid financial backing with TCI’s extensive e-invoicing experience to meet specific needs of the Peruvian market. Furthermore, with a footprint across Latin America, ESTELA also enables companies with regional operations to meet varying compliance requirements across the region through a single trusted partner.

Patricia Santoni, CEO of ESTELA, remarked, “Peru has one of the most widely adopted electronic invoicing models in Latin America. By integrating TCI’s solutions, people, and expertise into ESTELA, we can help even more businesses meet digital compliance and transparency without having to manage complexity on their own, thereby allowing them to grow their business and comply with local regulations with ease. To our valued customers, we have you covered.”

This announcement follows ESTELA’s recent entry into Peru with the acquisition of DigiFlow in anticipation of growing demand for more efficient electronic invoicing and digital compliance services in the Peruvian market. As companies across diverse sectors seek to comply with increasingly rigorous fiscal regulations and optimize their digital compliance operations, such as electronic invoicing, electronic signature, digital identity, and exchange data interfaces between buyers & providers. ESTELA positions itself as the trusted software provider, offering security and support to its enterprise and mid-market clients, both locally and regionally.

About TCI

TCI excels in digital intermediation, facilitating secure electronic transactions and complying with local regulations in Peru. With 31 years of experience, the company focuses on the country’s digital transformation through information and communication technology solutions, strengthening collaboration and competitiveness. More information at https://www.tci.net.pe/.

About ESTELA

ESTELA has emerged as the definitive solution to meet the growing need for a digital compliance leader in Ibero-America. This dynamic platform is composed of the leaders and pioneers in electronic invoicing, operational, tax, and logistics compliance across Latin America. ESTELA serves as the ultimate “one-stop shop” for large local and regional corporations in Ibero-America. More information can be found at www.estela.com.

Enmark Announces Key Leadership Roles; Sets Path for Next Phase of Growth & Innovation

Investment Type

Enmark Announces Key Leadership Roles; Sets Path for Next Phase of Growth & Innovation

Accel-KKR | Dec 13, 2023

Ben Lion Appointed President; Donna Myers Elected as Executive Chairman of the Board

Ann Arbor, MI – December 13, 2023 — Enmark Systems, Inc., a provider of ERP software for metal service centers and the developer of award-winning ENITEO, an ERP software platform for the metal service center industry, today announced the appointment of Ben Lion as President and Donna Myers as Executive Chairman effective November 15, 2023.

Myers has been serving as Interim CEO for Enmark since May 2023.  In her new role as Executive Chairman, Myers will continue to work closely with Enmark’s executive leadership team to deliver innovative software, creating frictionless metal service centers that operate efficiently and make more money.  Prior to Enmark, Myers was CEO of Salsa Labs, where her leadership brought rapid revenue growth to the provider of supporter engagement software, supplying thousands of nonprofits around the world.

Lion has served as Chief Revenue Officer for Enmark since 2021, delivering year-over-year double digit growth in new bookings and deepening relationships with Enmark customers. Prior to Enmark, Lion worked with Myers at Salsa Labs, leading its sales, marketing, and customer success teams.  Lion spearheaded the creation of Enmark’s Customer Advisory Board to gain valuable feedback in order to maximize value for Enmark customers, optimize the overall customer experience and help customers drive growth across their metal service centers. In May 2022, ENITEO was voted the top ERP software for metal service centers by Metal Center News. Trusted by the metal service center industry for over 18 years, ENITEO delivers the ultimate speed, accuracy & efficiency by connecting the top floor to the shop floor with real-time inventory control, sales, accounting and shipping modules. The breadth of features allows service centers to quote and ship more material while reducing errors.

“On behalf of the board, I want to congratulate Ben on his promotion and look forward to working with him to advance operational excellence at Enmark and driving transformational value for our customers,” said Donna Myers, Enmark Executive Chairman.

“I’m excited about the future of Enmark and the impact we make enhancing operations in the metal service center industry,” said Lion.  “We have a great team at Enmark and I am thrilled about the opportunities that lie ahead for us.”

About Enmark Systems, Inc.
Founded in 1983, Enmark’s philosophy has never changed – powering the connected service center industry with the latest technology to enhance operations from the shop floor to the top floor. The company’s flagship product, ENITEO, was launched in late 2004 and has since become the most widely adopted ERP, pricing and inventory software platform for the metal service center industry. For more, visit enmark.com.

Ntracts Secures Significant Investment from Accel-KKR

Investment Type

Ntracts Secures Significant Investment from Accel-KKR

Accel-KKR | Dec 13, 2023

Partnership to Fuel Product and Market Growth for Healthcare Contract Lifecycle Management Technology Leader

Menlo Park, CA & Chattanooga, TN – DEC 13, 2023 – Ntracts, a leading contract lifecycle management solution for healthcare organizations, today announced a significant capital investment from Accel-KKR, a global technology-focused private equity firm. The investment will help Ntracts accelerate its go-to-market strategies and continue to seek to lead the market with product innovations.

Ntracts’ CEO, David Paschall, said, “We are thrilled to have Accel-KKR as our partner as we enter a new phase of growth and innovation. Their extensive background in healthcare IT investing and operating resources will be invaluable as we work to bring more innovation around our core offering and to further strengthen our client partnerships.”

The average-sized community hospital spends $7.6 million annually on administrative activities related to regulatory compliance and even more in fines if they experience a violation. With complex and often changing government regulations, healthcare organizations must take action to ensure regulatory and organizational compliance. Additionally, they continue to face the need to improve efficiencies and cut operational expenses as healthcare organizations lose an estimated 9% on average of annual revenue due to contract mismanagement.

Ntracts’ Contract Lifecycle Management solution supports clients’ full visibility into their contracts, increases efficiencies with workflow automation, provides advanced contract data reporting, and mitigates compliance risk. Furthermore, Ntracts’ implementation roadmap emphasizes partnership and collaboration with each client, and Ntracts takes on the full responsibility of each implementation.

The investment is part of Accel-KKR’s continued commitment to investing in innovative software companies that are driving digital transformation throughout the healthcare industry. Ntracts’ contract management software is designed to help healthcare organizations streamline their contract management processes, minimize regulatory exposure, and identify cost savings.

“We are excited to partner with Ntracts and support their growth as they continue to innovate and drive value for their customers,” said Phil Cunningham, Managing Director at Accel-KKR. “Ntracts’ contract management software is a powerful tool that can help healthcare organizations of all sizes manage their contracts more efficiently and effectively.”

Brentwood Capital Advisors acted as exclusive financial advisor to Ntracts.

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About Ntracts

Ntracts is a leading contract lifecycle management solution for healthcare organizations across the country. Driven by the expertise of dedicated contract compliance professionals, and founded by a leading healthcare law firm, Hall Render, Ntracts has provided best-in-class, healthcare-focused contract lifecycle management solutions for over 30 years. Visit ntracts.com to learn more.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with $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, London, and Mexico City. Visit accel-kkr.com to learn more.

Reapit and PayProp Join Forces, Backed by Accel-KKR Investment

Investment Type

Reapit and PayProp Join Forces, Backed by Accel-KKR Investment

Accel-KKR | Dec 05, 2023

London, UK – December 05, 2023 – Reapit and PayProp, two leading property technology solution providers, today announced that they are joining forces to deliver greater value and innovation to estate and letting agents worldwide. The combination is backed by a substantial investment from Accel-KKR, a leading technology-focused private equity firm. The move offers customers of both companies the opportunity to have a single provider that delivers capabilities across sales, letting, property management, client account management, and secure, automated disbursement of payments to the appropriate stakeholders.

Mark Armstrong, CEO of Reapit, commented: “Our two companies are both highly oriented around service and customer success. Our combined path is clear: to lead and drive digital transformation of the property sector, which is a huge asset class.”

“We could not be more excited about the technology, customers and employees that PayProp brings to the combined entity,” Armstrong added. “PayProp has a loyal customer base that benefits from efficient and secure payment, reconciliation and settlement. Many PayProp customers, I am sure, will be keen to discover the end-to-end functionality and support that Reapit offers.”

Johannes van Eeden, CEO, PayProp put the emphasis on growth opportunities. “Both of our companies have an excellent reputation for eliminating back-office inefficiencies and lowering administrative costs. Together, we will provide a premium end-to-end service with the goal of enabling our customers to do business more efficiently, remain compliant with the latest regulations, and grow profitably.”

Reapit is an established brand in the United Kingdom and Ireland, Denmark, Australia and New Zealand, and the United Arab Emirates. PayProp serves a large group of letting agents and rental property managers across the United Kingdom, South Africa, Canada & the United States.

“We look forward to working with Mark, Johannes, and their teams to help create a true end-to-end PropTech platform that enables our customers to grow, become more efficient and fulfil their mission to find homes for their customers,” said Park Durrett, Managing Director at Accel-KKR and a board member of both Reapit and PayProp.

“Reapit and PayProp coming together creates a major force in the PropTech sector and provides a springboard for further growth of the combined entity, which already has a significant footprint in four continents with considerably more than a million properties
under management. The combination of Reapit’s expertise, resources and support
in real estate management with PayProp’s expertise in payment and reconciliation will undoubtedly bring significant value to the global estate agency and letting industry.”

About Reapit

Reapit is the original, end-to-end business technology provider for estate agencies of all sizes. We’ve been helping sales and lettings agents to build relationships and grow their businesses for more than 25 years. Our technology connects property professionals in Europe, the Middle East, Australia, and New Zealand with buyers, sellers, tenants and landlords to power the relationships that change lives.

In the United Kingdom and Ireland, Reapit’s market-leading technology product suite provides estate and lettings agents with powerful tools covering lead generation, sales, lettings, property management, block management, client accounts, key management and analytics, underpinned by a robust, security infrastructure.

Worldwide, Reapit technology is used by over 78,000 agents in more than 15,000 branches, with over a million properties under management; enabling them to run their businesses, identify opportunities for growth, manage their properties, collect rent, communicate with their clients, and deliver an outstanding customer experience, every time.

ESTELA Expands Its Position as the Leader of Digital Compliance in Ibero-America with Two New Acquisitions

Investment Type

ESTELA Expands Its Position as the Leader of Digital Compliance in Ibero-America with Two New Acquisitions

Accel-KKR | Nov 22, 2023

Mexico City, MX, Santiago, Chile and Lima, Peru — November 22, 2023 —ESTELA, a leader in digital compliance technology platform in Latin America, today announced the acquisition of Chilean software company DBNet and the Peruvian software company, DigiFlow. ESTELA is backed by Accel-KKR, a global private equity firm with USD19 billion in cumulative capital commitments and solely focused on software companies and tech-enabled services.

DBNet and DigiFlow offer leading software solutions in electronic invoicing and fiscal compliance to thousands of enterprise customers in Chile and Peru. Together, they serve diverse sectors including distribution, logistics, public services, and business services.

“We help thousands of mid-market and enterprise customers do and grow business with ease, even as digital, tax and fiscal compliance become mandated in more countries across Latin America,” said Patricia Santoni, CEO of ESTELA. “The addition of DBNet and DigiFlow expands our reach into the Southern Cone and brings us even closer to customers in this part of the continent. Our growing footprint means customers can continue to count on us as they expand their businesses into Chile, Peru and beyond.”

ESTELA, born from the combination of five trailblazing electronic invoicing and EDI companies in Latin America, emerges as a leading player for digital compliance across Ibero-America. With a dedicated team of more than 700 professionals spread across seven countries, ESTELA plays a pivotal role in fortifying economies through compliance and transparency by championing a unified digital standard across Ibero-America. DBNET and DigiFlow extends ESTELA’s market leading solutions to Chile and Peru.

ESTELA delivers on its mission of ensuring digital compliance by upholding its customer values of speed, reliability, simplicity, and innovation. These attributes have made ESTELA the preferred partner for numerous industry leaders in Ibero-America – ESTELA handles more than 1.5 billion financial transactions annually.

John Crowell, Head of Latin America and Iberia at Accel-KKR, commented, “ESTELA has a unique opportunity to unite disparate digital and fiscal compliance technologies and solutions across Latin America into one, single, unified platform to serve leading enterprise customers doing business across the region. We are excited to support these two new acquisitions, which expands ESTELA’s geographic footprint and market expertise further across Latin America.”

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About DBNet
DBNet, as a leader in B2B electronic invoicing, represents technological progress and adaptability. With a team of 150 employees spread across three countries and a corporate client base of 1,500+, its trajectory has been a testament to excellence. For more information, visit www.DBNetcorp.com.

About DigiFlow
DigiFlow has established itself as a pioneer of digital compliance in Peru, serving more than 700 corporate clients and reinforcing its leadership position in this field. Discover more at www.DigiFlow.pe.

About ESTELA
ESTELA has emerged as the definitive solution to meet the escalating need for a digital compliance leader in Ibero-America. This dynamic platform is composed of the leaders and pioneers in electronic invoicing, operational, tax, and logistics compliance across Latin America. ESTELA serves as the ultimate “one-stop shop” for large local and regional corporations in Ibero-America. More information at www.estela.com.