Aptos to be Acquired by Affiliates of Goldman Sachs’ Merchant Banking Division
Aptos today announced that funds affiliated with the Merchant Banking Division of Goldman Sachs have reached a definitive agreement to acquire the company from funds advised by Apax Partners (the “Apax Funds”). Aptos, Inc., a recognized market leader in retail technology solutions, delivers innovative, cloud-native and comprehensive omni-channel solutions to more than 1,000 retail brands in 65 countries.
The Apax Funds backed Aptos CEO Noel Goggin to spin-out the business from portfolio company, Epicor, in 2015. Since then, Aptos has thrived as an independent company having more than doubled their customer base to become one of the largest global enterprise software providers focused exclusively on retail. In addition, the Apax Funds supported Aptos on a number of strategic acquisitions which strengthened Aptos’ presence in Europe and extended its product capabilities.
“Aptos is looking forward to the next stage in our growth and maturation journey in partnering with Goldman Sachs, a group that brings a wealth of enterprise software expertise, commercial relationships and vast global resources,” said Noel Goggin, Aptos CEO and culture leader. “We are also grateful for the strong partnership and strategic support Apax has provided over the past four and a half years.”
“When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built-for-the-future innovation,” said Will Chen, Managing Director at Goldman Sachs.
“With the strength of Aptos’ executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions,” Chen said. “We look forward to helping the company further scale the product innovations, customer success initiatives and global market expansions that have been hallmarks of Aptos’ preeminence to date.”
“We would like to thank Noel and his team for all they have achieved. As an independent and entrepreneurial company, Aptos has delivered on its potential by offering a comprehensive “end-to-end” platform at the forefront of the market transition to omni-channel retailing,” said Jason Wright, a Partner at Apax Partners. “We wish them continued success in the future.”
In an era of virtually limitless choice, sustained competitive advantage only comes to retailers who engage customers differently – by truly understanding who they are, what they want and why they buy. At Aptos, we too, believe that Engaging Customers Differently™ is critical to our success. We are committed to a deep understanding of each of our clients, to fulfilling their needs with the retail industry’s most comprehensive omnichannel solutions, and to fostering long-term relationships built on tangible value and trust. More than 1,000 retail brands rely upon our Singular Commerce™ platform to deliver every shopper a personalized, empowered and seamless experience…no matter when, where or how they shop.
Founded in 1972, Apax Partners is a leading global private equity advisory firm. Over its more than 40-year history, Apax Partners has raised and advised funds with aggregate commitments of c.$50 billion. The Apax Funds invest in companies across four global sectors of Tech & Telco, Services, Healthcare, and Consumer. These funds provide long-term equity financing to build and strengthen world-class companies.