Strategic capital commitment from funds managed by Goldman Sachs to fast-track Aptos’ product innovation and retailers’ digital transformation
ATLANTA — Jan. 13, 2020 — 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.”
About Aptos “Engaging Customers Differently”
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. Learn more: www.aptos.com
Follow Aptos on Twitter @Aptos_Retail
Aptos, the Aptos logo, “Engaging Customers Differently” and “Singular Commerce” are trademarks of Aptos, Inc. All other trademarks referenced are the property of their respective owners.
About Apax Partners
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. For more information see: www.apax.com.
About Goldman Sachs Merchant Banking Division
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm’s long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.
Media Contacts
For Aptos, Inc.
Kristen Miller | +1 678 695 6566 | kmiller@aptos.com
For Apax Partners
Global Media: Andrew Kenny, Apax | +44 20 7 872 6371 | andrew.kenny@apax.com
USA Media: Todd Fogarty, Kekst CNC | +1 212-521 4854 | todd.fogarty@kekstcnc.com
UK Media: Matthew Goodman / James Madsen, Greenbrook | +44 20 7952 2000 | apax@greenbrookpr.com
For Goldman Sachs
Leslie Shribman | +1 212 902 5400 | leslie.shribman@gs.com