Serent Capital-backed KEV Group acquires TRA

KEV Group Inc has acquired Technology Resource Associates Inc (TRA), a Wilmington, North Carolina-based school accounting software provider. No financial terms were disclosed. Toronto-based KEV, which operates in the same vertical, said the deal creates a K-12 school cash management and online payments company that serves 16,500 schools in North America and processes more than $3 billion in transactions annually. KEV was founded in 1996 by Evelyn Eagle and Kim Vivian-Downs. In September, the company secured a minority investment from Serent Capital, a U.S. technology and services private equity firm.

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