KKR completes majority investment in apexanalytix alongside Carousel Capital

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NEW YORK and GREENSBORO, North Carolina–(BUSINESS WIRE)–KKR, a leading global investment firm, and apexanalytix® (“apex” or the “Company”), a leading provider of supply chain risk management software and services, announced today the finalization of the purchase by KKR of a majority stake in the Company. Following the purchase, apex’s previous major shareholder, Carousel Capital (“Carousel”), a private investment firm that invests in companies located in the southeastern United States, continues to hold a significant minority stake in the company alongside KKR.

apex is a pioneer in the supply chain software, data and analytics markets with data-driven software and services for vendor management, fraud prevention and overpayment recovery. paid. The company serves more than 250 Fortune 500 and Forbes Global 2000 companies, protecting more than $8 trillion in annual spend across many of the world’s most complex supply chains. apex’s solutions help prevent and recover more than $8 billion for the company’s customers each year. apex’s flagship product suite includes its revolutionary overpayment and fraud prevention software, firststrike, as well as its vendor management platform, apexportal, and smartvm, which provides a compliant master data management solution. in global procure-to-pay processes.

“We are delighted to welcome KKR as our largest shareholder and an exciting new strategic partner to help us accelerate our mission to be the ultimate supplier information, risk and opportunity management solution for the largest enterprises. world,” said Steve Yurko, CEO of apex. .

Akhilesh Agarwal, chief operating officer of apex’s global P2P solutions and technologies, said, “We are thrilled with how the global presence, technical expertise and experience in supply chain technology solutions of KKR will help us better meet the needs of our customers, partners and associates. Phil Beane, COO of apex’s Global Transaction Compliance Solutions, added, “Our apex associates and leaders are also thrilled to see how well KKR’s culture aligns with ours, including their support for our associates’ continued participation in the company’s equity growth.”

“apex provides a powerful platform to help businesses address some of the most pressing challenges facing supply chains today. The apex team has developed a truly innovative solution to help some of the world’s largest companies, with the most complex supply chain operations, reduce risk and increase efficiency,” said Webster Chua, partner at KKR. “We are excited to work with the exceptional team at apex as they continue to deliver best-in-class solutions to customers around the world.”

“Over the past eight years, we have enjoyed working with apex and its leadership team to create the industry-leading technology and services solution to meet the complex supply chain management needs of enterprise customers,” said said Charles Grigg, managing partner of Carousel Capital. “We are delighted that KKR is investing as a new strategic partner for apex, which will enable the company to continue accelerating measurable value to its customers. And we are excited to continue as a financial partner and to be able to contribute to the future growth initiatives of this incredible company. »

KKR made this investment through its North America Fund XIII. Carousel originally invested in apex in 2014 from its fourth fund and in 2020 sponsored a recapitalization of the company through a unique asset continuation fund and its fifth fund. Financial terms of the transaction were not disclosed.

UBS Investment Bank and Kirkland & Ellis acted as advisors to KKR. William Blair and KL Gates served as advisors to apex and Carousel.

About apexanalytix

apexanalytix has revolutionized recovery auditing with advanced analytics and the introduction of firststrike overpayment and fraud prevention software. Today, apex is also the global leader in supplier management innovation with apexportal® and smartvm®, now the most widely used supplier onboarding and compliant master data management solution in processes. global supply-to-pay. With more than 250 Fortune 500 and Global 2000 clients, apex provides businesses and their suppliers with the ultimate supplier management experience.

About KKR

KKR is a leading global investment firm providing alternative asset management solutions as well as capital markets and insurance solutions. KKR aims to generate attractive returns on investment by following a patient and disciplined investment approach, employing world-class people and supporting the growth of its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer pension, life insurance and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For more information about KKR & Co. Inc. (NYSE:KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.

About Carrousel Capital

Based in Charlotte, North Carolina, Carousel Capital is a private investment firm that invests in companies located in the southeastern United States. Carousel’s investor base includes institutional investors and an elite group of over 100 current and former CEOs with deep ties to the region. Since its creation in 1996, Carousel has invested in 48 companies mainly in three targeted growth sectors: business services; consumer services; and health services.

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