Accela, a portfolio company of Berkshire Partners, has sold Springbrook to Accel-KKR


Springbrook’s enterprise resource planning (ERP) platform offers a comprehensive set of modules across utility billing and finance / human resources (HR), and seamlessly integrates utility billing modules with its multi-channel government utility payments solution, delivering full spectrum utility management solutions for local governments.

The Deal

“The team at Lincoln was an essential part of the process and helped us achieve an exceptional outcome for Springbrook,” stated Max Schnoedl, Chief Executive Officer of Springbrook. “The demonstrated a very strong understanding of the company and the local government software market as a whole, enabling them to connect us with the best partner who shares our vision going forward.”

“The team at Lincoln curated a bespoke and highly efficient process that allowed the Springbrook team to both maximize value and partner with an experienced and market-leading firm,” stated Tom Kuo, Managing Director at Berkshire Partners.

Our Perspective

“The Springbrook deal highlights our domain expertise in the government software sector. This transaction demonstrates our commitment to achieving the best outcome for all parties,” stated Clark Spurrier, Managing Director at Lincoln. “We are excited to have had the opportunity to work with Springbrook, Accela, Berkshire Partners, ABRY Partners and Accel-KKR on this transaction, and are thrilled with the result.”

“This announcement represents a transformative development not only for the parties involved, but also for the local government software market as a whole,” stated Griffin Bealle, Managing Director at Lincoln. “Municipalities and special districts prefer an integrated platform, and Springbrook’s compelling combination of mission-critical ERP and next-generation payments delivers on this demand. We are eager to see Springbrook execute on this opportunity in its next chapter as an independent company.”

Accela Berkshire Partners Springbrook Accel KKR 2020 Connect with a Senior Team Member
The investment banking team’s coordination with management and knowledge of the business allowed us to easily recognize the strategic value of the Springbrook asset. Their deep industry knowledge and dedication to the process facilitated an exciting transaction for all parties.
Dean Jacobson
Managing Director at Accel-KKR

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Any information or testimonials contained in this post may not be representative of the experience of other clients and is no guarantee of future performance or success.