Private Equity News & Analysis

Accel-KKR buys online application company

The deal for Endurance International is the Menlo Park, California firm's second this month and the third from its recently closed $600m Fund III.

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Accel-KKR, a technology-focused private equity firm, has acquired The Endurance International Group, which provides online applications and services. Financial details were not disclosed.

Accel-KKR is investing from its third private equity fund, which closed on its $600 million hard cap in September.

Endurance hosts websites and provides online applications and services, as well as manages more than one million domain names. The company provides web services for small- and medium-sized businesses, individual consumers, non-profits and large enterprises.

Endurance’s chief executive Steve Sydness, and executive vice presidents Hari Ravichandran and Thomas Gorny, will stay at the helm of the company, along with the rest of the senior management team.

Accel-KKR completed a second add-on to its portfolio company iTradeNetwork earlier this month. The firm facilitated the merger of iTradeNetwork, which it acquired in December 2007, with Amphire Solutions, a company that automates processes for the food service industry. No financial details of the deal were provided.

Accel-KKR was founded in 2000 by Kohlberg Kravis Roberts and Accel Partners and in 2002 the firm's current management took control. It has more than $1 billion in assets under management.