Austin-based Epicor Plans to Spin Off its Retail Business

Ep_BI_logo-80Epicor Software Corp. announced Monday plans to spinoff of its retail solutions business into a separate privately-held company.

The Austin-based business software company refers to its spinoff company as “SpinCo” until the deal is done. Apax Partners, a private equity investment group, is providing the funding.

Noel Goggin, executive vice president and general manager, will continue to lead the new “SpinCo.” He will report to Joe Cowan, president and CEO of Epicor Software.

“The spinoff of our retail business will ultimately deliver increased value to the customers of both resulting companies,” Cowan said in a news release. “We believe this move will enable both businesses to become more focused, better positioned for growth and capitalize on the unique competitive opportunities faced by each.”

Epicor also announced plans for a debt offering of $2.1 billion. It plans to use the funds to refinance its outstanding $1.3 billion in debt and refinancing $400 million in notes and to fund a dividend distribution to shareholders.

Epicor expects to close the SpinCo deal and the debt offering in June.


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    Austin-based Epicor Plans to Spin Off its Retail Business – SiliconHills

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