Accel-KKR, a technology-focused investment firm, completed a transaction under which Cinven has become the controlling shareholder of Jaggaer, a Morrisville, NC-based independent spend management company.
Following the deal, whose amount was not disclosed, Accel-KKR has retained a minority stake in the company.
Accel-KKR acquired Jaggaer in a go-private transaction in 2016. In the investment, the firm worked with the management team to implement a number of operating initiatives focused on top and bottom line growth and completed a series of follow-on acquisitions that expanded the company’s geographic reach and product portfolio.
The 2017 purchases of Pool4Tool in Vienna, Austria, and BravoSolution in Milan, Italy, broadened Jaggaer’s offering to include direct procurement and expanded its geographic presence, also allowing it to develop expertise in multiple vertical industries.
As a result of these initiatives, Jaggaer’s revenues nearly tripled in size in the past three years.
Jaggaer offers complete SaaS-based Source to Pay solutions with advanced Spend Analytics, Sourcing, Supplier Management, Contract Lifecycle Management, Savings Tracking, and intelligent workflow capabilities all on a single platform, Jaggaer One.
It has over 2000 customers connected to a network of 4 million suppliers in 70 countries, served by offices located in the Americas, APAC, Asia and EMEA.