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Announced

Completed

Accel-KKR-backed Springbrook completed the acquisition of BIAS Software.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

United States

Software

Completed

Acquisition

Single Bidder

accounting software

Majority

Friendly

Private Equity

Synopsis

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Accel-KKR-backed Springbrook, a provider of fully integrated, cloud-based ERP and payments software for local governments, completed the acquisition of BIAS Software, a provider of cloud-based accounting software for local public agencies. Financial terms were not disclosed. "Since becoming an independent company singularly focused on serving local governments, we continue to look for ways to add value to our customers. We see tremendous synergy in building on BIAS's expertise in OCBOA-compliant financial administration software and to deepen Springbrook's market leadership position in the US Pacific Northwest region in partnership with BIAS co-founders Mark Felchlin and Wes Hein," Max Schnoedl, Springbrook's CEO.

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