image courtesy: Mint
Silver Lake, a tech investor, has joined hands with KKR as an Exact shareholder also allowing two of the concerned American private equity firms to work together in accelerating Exact’s growth.
KKR had purchased a majority stake from rival Apax as early as back in Mar 2019. A steep growth curve was achieved with the help of Exact’s management team. A fast development trajectory was agreed upon as well, with group revenues expected to reach €500 million by 2025. Exact now earns €300 million in revenue.
The investment worth in Silver Lake is not known yet however, it is known that the deal is a minority share deal, with KKR remaining the dominant shareholder.
Silver Lake is one of the world’s largest technology and software-focused private equity firms. The investor has over $83 billion in assets under management and has purchased significant holdings in firms such as Airbnb, Expedia Group, and Klarna over the years.