Kerridge Commercial Systems Acquisition, Valuation, Funding & Investors

Kerridge Commercial Systems was acquired by CapVest for $1B in July 2023, a 18.3x multiple on $55M of revenue.

Kerridge Commercial Systems acquisition price

$1B

Acquired by CapVest · Jul 2023

Kerridge Commercial Systems revenue at acquisition

$55M

Last twelve months · Jul 2023

Kerridge Commercial Systems revenue multiple at acquisition

18.3x

EV/Revenue · Jul 2023

Kerridge Commercial Systems EBITDA multiple at acquisition

78.7x

EV/EBITDA · Jul 2023

Kerridge Commercial Systems Overview

About Kerridge Commercial Systems

Kerridge Commercial Systems is a Northampton-headquartered developer of K8 ERP software for wholesalers, distributors, and building materials merchants across Europe and Australasia. Deployed at over 3,000 sites, the platform integrates stock management, e-commerce, and financials with Oracle databases. As a Microsoft Gold Partner, it operates from offices in Ireland, Netherlands, and South Africa, serving clients like Travis Perkins and Wolseley.


Founded

1976

HQ

United KingdomNewbury

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Revenue

$46M (Feb 2015)

Valuation

$63M (Feb 2015)

Kerridge Commercial Systems Acquisition

Kerridge Commercial Systems was acquired by CapVest for $1B on 13 July 2023.

The acquisition price implies a 18.3x revenue and 78.7x EBITDA multiple on $55M of revenue.

CapVest Partners agreed on 13 July 2023 to acquire Kerridge Commercial Systems from Accel-KKR. Accel-KKR had invested in the enterprise software provider in 2015 and, during its ownership, grew revenue more than fourfold and added businesses including MAM Systems in 2019. Kerridge Commercial Systems provides ERP and business management software to distributors, wholesalers and related trades, serving over 32,000 customers worldwide with more than 1,100 employees across 21 offices. Addleshaw Goddard advised the company on the sale. Bloomberg reported a price above GBP 800 million, which the parties did not confirm. The software business is commonly known as KCS and sells to distribution businesses across several trade markets.

Kerridge Commercial Systems acquisition details
AcquirerDateTypePriceEV/RevenueEV/EBITDA
  • CapVest
13 Jul 2023PE buyout$1B18.3x78.7x

Sources: accel-kkr.com, tech.eu

Kerridge Commercial Systems Valuation

Kerridge Commercial Systems is currently valued at $63M, based on its undisclosed-stage round in February 2015. Read the announcement ↗

The round included Accel-KKR.

Kerridge Commercial Systems valuation by funding round

Kerridge Commercial Systems valuation by funding round
DateStageValuationRevenue Multiple
Feb 2015Undisclosed stage$63M1.4x

Kerridge Commercial Systems Revenue

Kerridge Commercial Systems' latest recorded revenue is $46M, as of its undisclosed-stage round in February 2015. At a $63M valuation, that implies a 1.4x revenue multiple.

Kerridge Commercial Systems revenue by funding round

Kerridge Commercial Systems revenue and valuation multiple by funding round
DateRevenue *ValuationRevenue MultipleStage
Feb 2015$46M$63M1.4xUndisclosed stage

* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.

Kerridge Commercial Systems Funding History

Kerridge Commercial Systems has raised 1 funding round.

Kerridge Commercial Systems funding rounds
DateStageInvestorsValuationDeal Summary
Feb 2015Undisclosed stageAccel-KKR$63MAccel-KKR made a growth investment in Kerridge Commercial Systems, the British business software provider for the distributive trades, completing on 6 February 2015. The funding was to support the existing management team and its strategy, and it followed a five-year period of growth under NVM Private Equity. Addleshaw Goddard advised the company on the deal, which was reported on 25 February 2015. Kerridge's software covers the order, stock and finance processes of distributors in sectors such as building supplies. Accel-KKR later reported six strategic acquisitions after its original investment, among them Dancik International in 2015 and MAM Systems in 2019, and said overall revenue grew more than fourfold during its ownership. It agreed to sell the company to CapVest in July 2023.

Who has invested in Kerridge Commercial Systems?

1 investor has backed Kerridge Commercial Systems across its funding rounds, including Accel-KKR.


Kerridge Commercial Systems Investors

Investors in Kerridge Commercial Systems by funding rounds participated
InvestorHQRoundsRoleFirst check

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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

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Acquisitions by Kerridge Commercial Systems

Kerridge Commercial Systems has acquired 18 companies to date.

Last acquisition by Kerridge Commercial Systems was on April 22nd 2025. Kerridge Commercial Systems acquired Elcome for undisclosed valuation.


Latest Acquisitions by Kerridge Commercial Systems

Elcome
Ram Tracking
Vigo Software
Klipboard
Description
Elcome supplies automotive parts data and cataloguing software to the vehicle replacement parts aftermarket, helping distributors, factors and workshops identify and sell the correct components. Its products structure manufacturer parts data into searchable catalogues used in trade counters and online parts sales. Revenue comes from software and data subscriptions.
-
Vigo Software designs, builds and hosts warehouse management and transport management systems for distribution and logistics businesses in the United Kingdom and Ireland. Its software helps customers plan delivery routes, load vehicles efficiently, meet transport deadlines and give customers visibility of deliveries. Revenue comes from software licences, hosting and subscriptions.
Klipboard is a Sydney-based field service management software platform serving trades like plumbing, electrical, and HVAC in Australia and New Zealand. The all-in-one SaaS includes CRM, intelligent scheduling, GPS tracking, mobile workflows, asset management, and Xero accounting integration. Klipboard automates customer communications and reporting for multi-technician operations. Founded in 2016, it targets the field services industry with end-to-end job management.
HQ CountryUnited KingdomUnited KingdomIrelandUnited Kingdom
HQ City
Stourbridge
-
Dublin
London
Deal Date22 Apr 202526 Feb 20251 Sep 20248 Jul 2024
Valuationundisclosedundisclosedundisclosedundisclosed
EV/Revenue
EV/EBITDA

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Kerridge Commercial Systems Competitors

Kerridge Commercial Systems competitors include listed companies like Huitongda Network and Polaris Holdings, and private ones like Unqork, Delightree, Assembled and UST.

Public and private companies comparable to Kerridge Commercial Systems
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
UnqorkUnited StatesNew York City, NYPrivate$133M-$2B15.0x
DelightreeUnited StatesSan Francisco, CAPrivate$4M-$290M72.5x
AssembledUnited StatesSan Francisco, CAPrivate--$1B-
USTUnited StatesAliso ViejoPrivate-$82M$1B-
Huitongda NetworkChinaChinaPublicly listed$7.8B$113M$478M0.0x
Polaris HoldingsJapanJapanPublicly listed$306M$45M$278M1.3x

Kerridge Commercial Systems Public Comps

Kerridge Commercial Systems is no longer listed, but its public comps include Asseco Business Solutions, RWS Holdings, Inspur, Hangzhou Anysoft, Koal Software, Huitongda Network, Business Engineering, Datamatics Global Services, Digiwin and Freee.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Asseco Business Solutions$121M$47M5.9x5.3x15.1x13.0x
RWS Holdings$927M($26M)0.8x0.8x(29.2x)5.0x
Inspur$173M($31M)3.5x2.5x(19.3x)-
Hangzhou Anysoft$151M$15M5.3x-52.2x-
Koal Software$54M($9M)7.8x6.5x(45.5x)41.2x
Huitongda Network$7.8B$113M0.0x0.0x0.1x0.1x
Business Engineering$155M$48M2.4x2.3x7.9x-
Datamatics Global Services$211M$37M2.0x1.9x11.5x10.2x

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Common questions about Kerridge Commercial Systems

When was Kerridge Commercial Systems founded?Kerridge Commercial Systems was founded in 1976.
Where is Kerridge Commercial Systems headquartered?Kerridge Commercial Systems is headquartered in Newbury, United Kingdom.
Is Kerridge Commercial Systems publicly listed?No, Kerridge Commercial Systems was acquired by CapVest in July 2023.
Who acquired Kerridge Commercial Systems?Kerridge Commercial Systems was acquired by CapVest in July 2023.
How much was Kerridge Commercial Systems acquired for?Kerridge Commercial Systems was acquired for $1B in July 2023, a 18.3x revenue multiple.
What is Kerridge Commercial Systems' valuation?Kerridge Commercial Systems was last valued at $63M in its undisclosed-stage round in February 2015.
What was Kerridge Commercial Systems' last funding round?Kerridge Commercial Systems' last funding round was a undisclosed-stage round in February 2015.
Who are Kerridge Commercial Systems' investors?Kerridge Commercial Systems' investors include Accel-KKR.
What is Kerridge Commercial Systems' revenue?Kerridge Commercial Systems' latest recorded revenue is $46M (February 2015).
What is Kerridge Commercial Systems' revenue multiple?Kerridge Commercial Systems' latest valuation implies a 1.4x revenue multiple ($63M valuation on $46M of revenue).
Which companies are comparable to Kerridge Commercial Systems?Companies comparable to Kerridge Commercial Systems include Unqork, Delightree, Assembled, UST, Huitongda Network and Polaris Holdings.
How many companies has Kerridge Commercial Systems acquired?Kerridge Commercial Systems has acquired 18 companies, including Elcome, Ram Tracking, Vigo Software, Klipboard and Rain Data.
What was the largest acquisition by Kerridge Commercial Systems?The $154M acquisition of MAM Software in September 2019 is the largest acquisition Kerridge Commercial Systems has made to date.

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