Silver Lake, a global leader in technology investments, announced today that it has a minority stake in Exact, a leading provider of business and accounting software in the region Benelux. This investment is made in partnership with the company’s management under the direction of CEO Paul Ramakers and with the previous investor KKR, who remains the majority shareholder in the company.
Exact was founded in 1984 and is based in Delft, the Netherlands. The company’s innovative software solutions now help more than 9,900 accountants manage the finances of small and medium-sized businesses and provide high value cloud solutions to more than 550,000 small business owners. Exact’s ERP (“Enterprise Resource Planning”) solutions for medium-sized companies are used by more than 16,000 medium-sized companies that can opt for cloud or on-site implementation. The company’s integrated software suite includes financial management, logistics, CRM, human resources and payroll. Exact has grown rapidly since it was acquired by KKR in 2019 and has been able to further strengthen its market leadership position.
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Jean-Pierre Saad, Partner and Head of EMEA Technology at KKR, Daniel Knottenbelt, Partner and Head of Benelux at KKR, and Tomas Kubica, Director Technology Private Equity at KKR, said: “We are very pleased that Silver Lake joins us as an investor in Exact, one of Europe’s leading SaaS companies. We have seen tremendous growth over the past few years with the entire team led by Paul Ramakers. The company continues to be a leading accounting and business software platform in the Benelux region and beyond. This applies in particular to its main product, the SaaS solution Exact Online. We are convinced
Christian Lucas, Co-Head of Silver Lake EMEA, commented: “Exact fits very well with Silver Lake’s strategy of investing in high-growth, innovative, world-leading technology companies. Paul Ramakers and the Exact staff have grown on an impressive path and we are impressed with the high quality of their world-class SaaS solutions. We look forward to working with senior management and KKR, a leading global technology and software investment company, to contribute to the next stage of Exact so that the company can achieve its full long-term potential. ”
Paul Ramakers, CEO of Exact, said: “We are proud of what Exact has already achieved with the energetic support of the KKR team. Together with our outstanding employees and our business partners, we have built a very successful company that supports accounting firms as well as small and medium-sized companies in the Benelux countries. We look forward to being able to use the know-how in the software area and the extensive industry network of Silver Lake in the next exciting phase of our growth-shaped company history. ”
The transaction is expected to close in the third quarter, subject to customary conditions and regulatory approvals. So far nothing has been announced about the further details of the transaction.
