Apax completes Activant acquisition deal
Apax Partners completed the previously announced acquisitions of Epicor Software Corp. and Activant Solutions Inc.
Apax intends to combine Activant with Epicor to create one of the largest global providers of enterprise applications focused on the manufacturing, distribution, retail and services sectors. The combined company is now called Epicor Software Corp. The new Epicor has more than 33,000 customers in over 150 countries and more than $800 million in annual revenues.
"Bringing together two of the premier enterprise software companies creates a global market leader with deep expertise in the manufacturing, distribution, retail and services sectors,” said Jason Wright, a partner at Apax Partners. “Not only will customers and prospects benefit from a history of visionary innovation in business software and deep vertical industry expertise, but they will also benefit from the combined company’s increased scale and expanded service offerings.”
According to Apax, the combined company will benefit from economies of scale, as well as the ability to leverage highly complementary product lines, a broader channel partner program and an expanded geographic reach. Also, the combined company’s retail sector solutions now cover the full spectrum — from small hardgoods retailers, to national specialty softgoods and apparel chains, to global general merchandise department stores.
Apax Partners has begun the process of integrating the two companies and expects to make further announcements on management team structure in the coming weeks.
DieHard enters alkaline battery arena
Columbus, Ohio-based Dorcy, a flashlight and battery manufacturer, is introducing DieHard branded alkaline batteries to the market.
The DieHard brand on an alkaline battery was on display at the National Hardware Show in Las Vegas.
"It’s a natural," said Dorcy president and CEO Tom Beckett. "The DieHard brand has enormous goodwill, and this launch is a natural addition to our core business."
DieHard is a brand owned by Hoffman Estates, Ill.-based Sears Holdings. Dorcy is a longtime supplier of flashlights to Sears.
Lowe’s invests in solar panel provider
Lowe’s has announced a new partnership with Sungevity, an installer of residential solar panels, that will offer its retail customers same-day estimates using satellite images. As part of the agreement, Lowe’s has taken an equity position in Sungevity, which will begin rolling out the program in select markets this summer.
Based in Oakland, Calif., Sungevity utilizes a proprietary iQuote system that calculates installation quotes based on aerial photography, as well as satellite images. Customers then lease the solar panels, which come with monitoring, maintenance, repairs, insurance and a money-back performance guarantee.
The solar program will begin with interactive Sungevity-branded displays in select Lowe’s stores and will continue to roll out at all Lowe’s stores in states where Sungevity provides services. Sungevity currently operates in eight states: Arizona, California, Colorado, Delaware, Maryland, Massachusetts, New Jersey and New York.