AUSTIN, TX — Epicor Software Corporation, a provider of business software solutions for manufacturing, distribution, retail and services organizations, on Monday announced a spinoff of the Retail Solutions Business into a separate privately-held company under common ownership by funds advised by Apax Partners.
Referred to as “SpinCo” until the transaction is finalized, the Epicor Retail solutions business continues under the leadership of Noel Goggin, executive vice president and general manager, currently reporting to Joe Cowan, president and chief executive officer, Epicor Software. Epicor also announced a simplified corporate structure aligned to its ‘customer-first’ culture.
“The spinoff of our retail business will ultimately deliver increased value to the customers of both resulting companies,” said Cowan. “We believe this move will enable both businesses to become more focused, better positioned for growth and capitalize on the unique competitive opportunities faced by each.”
“It is a very dynamic and transformational time in retail and I am thrilled with the opportunities an independent, focused entity offers us to better serve our clients. SpinCo will be uniquely positioned to bring advanced technology and entrepreneurial innovation into today’s fast-paced environment of global retail,” said Goggin.
“We are excited about the potential for both Epicor and SpinCo. Both companies will have strong management teams and will be well positioned for future growth opportunities. The focus of each entity on their core markets will result in an even better customer experience,” said Jason Wright, Apax Partners.
