Apax Partners’ Acquisition of ECi Software Solutions


The legal and financial advisors to Apax Partners are Skadden, Arps, Slate, Meagher & Flom LLP and Ernst & Young LLP, respectively. The legal and financial advisors to ECi are Latham & Watkins LLP, BofA Merrill Lynch and PwC, respectively.

Funds advised by Apax Partners (“Apax Funds”) today announced that they have reached a definitive agreement to acquire ECi Software Solutions, a provider of enterprise resource planning (ERP) software solutions to small- and medium-sized businesses (SMB) across the distribution, field services, building and construction and manufacturing industries.

ECi has invested heavily in its core verticals to transition all product sets to the cloud. The Apax Funds investment will accelerate this initiative as ECi continues to provide best-of-breed, industry-specific functionality.

Concurrent with this transaction, the Macola, JobBOSS and MAX businesses of Exact Software (a current Apax Funds portfolio company) will be combined with ECi. These businesses are based in the U.S. and provide ERP software applications to a wide range of SMB manufacturers.

The combination of Exact’s Macola, JobBOSS and MAX businesses with ECi will create a diversified SMB-focused business offering end-to-end technology solutions. The current ECi senior management team, including Chief Executive Officer Ron Books, will continue to lead the combined company, which will be known as ECi Software Solutions. It will remain headquartered in Fort Worth, Texas.

ECi is currently owned by affiliates of The Carlyle Group and Level Equity. Carlyle will retain a minority ownership position in the combined company. The transactions are expected to close in the third quarter of 2017, subject to customary closing conditions.

The Skadden team includes M&A partner Ann Beth Stebbins (Picture), associates Joan Piasta, Lisa Ogust and Raquel Smith, and law clerks Patrick Tsitsaros and Angela Roh; Tax partner Victor Hollender and associate Jay Cosel; Executive Compensation and Benefits partner Erica Schohn and associate Genia Gokhmark; and Intellectual Property and Technology partner Stuart Levi and associate Miriam Furst.

Involved fees earner: Ann Beth Stebbins – Skadden Arps Slate Meager & Flom; Joan Piasta – Skadden Arps Slate Meager & Flom; Lisa Ogust – Skadden Arps Slate Meager & Flom; Raquel Smith – Skadden Arps Slate Meager & Flom; Patrick Tsitsaros – Skadden Arps Slate Meager & Flom; Angela Roh – Skadden Arps Slate Meager & Flom; Victor Hollender – Skadden Arps Slate Meager & Flom; Jay Cosel – Skadden Arps Slate Meager & Flom; Erica Schohn – Skadden Arps Slate Meager & Flom; Genia Gokhmark – Skadden Arps Slate Meager & Flom; Stuart Levi – Skadden Arps Slate Meager & Flom; Miriam Furst – Skadden Arps Slate Meager & Flom;

Law Firms: Skadden Arps Slate Meager & Flom;

Clients: Apax Partners;

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Author: Ambrogio Visconti