Travers Smith LLP has advised the management team of Exact, the Dutch software group (Exact), in relation to the acquisition by Kohlberg Kravis Roberts & Co. (KKR), which has now completed.
KKR acquired Exact, a leading provider of business and accounting software in the Benelux region, from funds advised by Apax Partners.
Founded in 1984 and headquartered in Delft, the Netherlands, Exact provides innovative business and accounting software solutions to small and medium enterprises. Today, Exact helps 6,700 accountants manage the finances of over 400,000 small businesses in the cloud. Exact’s mid-market enterprise resource planning solutions are also used by over 18,500 mid-sized firms, with a choice of cloud or on-premise deployment. Exact supports all major business processes such as production, logistics, finance & administration, HR, sales and marketing. Exact employs 1,400 people in 12 different countries and 21 offices worldwide.
The Travers Smith team was led by Private Equity Partner Adam Orr, supported by Corporate Associate James Ravden. Tax advice was provided by Tax Partner, Hannah Manning, supported by Tax Associate Georgiana Jones.
KKR was advised by Paul, Weiss, Rifkind, Wharton & Garrison LLP and Stibbe N.V. Exact was advised by Clifford Chance LLP.