Activant to merge with Epicor Software Corp.
Livermore, Calif.-based Activant is expected to merge with Epicor Sofware Corp. as part of a deal in which Apax Parnters acquires both of the software solutions providers.
Following completion of the merger, the combined company will be called Epicor Software Corp.
Apax Partners is private equity firm with a specialty in technology investment, according to a press release announcing the acquisition.
According to Pervez Qureshi, Activant president and CEO, the new entity can now cover the full spectrum of retailing.
"This transaction is extremely positive for Activant’s customers, employees and investors alike," he said. “Our market leadership and expertise in distribution perfectly complements Epicor’s expertise in the manufacturing and services sectors."
The combined company will have more than 30,000 customers and $825 million in annual revenues, he added.
Under the terms of the agreement, all of Activant’s outstanding shares and stock options will be acquired for cash. Upon completion of the transaction all of Activant’s outstanding 9-1/2% Senior Subordinated Notes will be redeemed and Activant’s senior secured indebtedness will be repaid.
The deal is expected to be closed by the end of the second quarter.
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This merger will allow these
This merger will allow these two companies to finally bring together great products with consistent marketing expertize. The cloud security services provided by Epicor Software Corp will now be promoted by Apax Partners who have an outstanding internet marketing record. This merger will benefit both companies as well as their clients and share holders.
American Standard takes show on the road, again
Piscataway, N.J.-based American Standard’s 2011 Responsible Bathroom Tour begins rolling this month with stops at more than 100 plumbing wholesale locations.
The star of the show is a walk-through mobile plumbing showroom displaying WaterSense-certified toilets, faucets and shower heads.
Last year, a similar tour generated sales of products that combine to save about 2 billion gallons of water annually. This year’s tour will build upon these savings by convincing attendees to adopt new water-conserving behaviors and replace old leaky fixtures with more efficient products, the company said.
Open to the public, the tour is expected to attract plumbers, specifiers and other construction professionals, along with environmentalists, researchers, housing authorities, utility personnel and consumers. Visitors will learn about water conservation strategies and view product demonstrations.
The tour, which will continue through November, has also partnered with local water municipalities to promote local rebates available for water-efficient faucets, toilets and shower heads.
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Menards opens another unit in Minnesota
Home improvement chain Menards continued its Midwest expansion with a March 28 soft opening in Marshall, a town in southwestern Minnesota, according to an article in the Marshall Independent. The grand opening is scheduled for this week.
Site preparation and construction for the store had been going on since August 2008, the article said.
Menards is also hoping to open a store in Bemidji, Minn., this spring.
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