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Accel-KKR completes sale of JAGGAER to Cinven

Tuesday 3rd September, 2019

Accel-KKR a technology-focused investment firm with over $8 billion in capital commitments has completed a transaction under which private equity firm Cinven has become the controlling shareholder of spend management company JAGGAER.

Accel-KKR acquired JAGGAER in a go-private transaction in 2016. In 2017 purchases of Pool4Tool in Vienna, Austria and BravoSolution in Italy broadened JAGGAER’s offering to include direct procurement and significantly expanded its geographic presence.

"Our investment in JAGGAER is a great example of Accel-KKR in action," said Tom Barnds, Managing Director and Co-founder of Accel-KKR. "After taking SciQuest private three years ago, we focused the newly named JAGGAER on investing in key growth initiatives and completing two material acquisitions that changed the profile of the company."

"The Accel-KKR Consulting Group, leveraging significant experience in this software end market, played an important role in the integration of BravoSolution and Pool4Tool, as well as in leading a number of other initiatives over the course of our investment," said Jason Klein, Managing Director.

Dean Jacobson, an Accel-KKR Managing Director, added, "We are proud of the progress JAGGAER made under our ownership since 2016. We nearly tripled revenues, expanded the suite of offerings to include direct and indirect procurement, and helped the company become a truly global enterprise."

Accel-KKR has retained a minority stake in JAGGAER.