KKR Portfolio Company Exact Completes Add-on Acquisition of weclapp

Paul, Weiss advised KKR portfolio company Exact, a leading provider of business and accounting software in Europe's Benelux region, in its acquisition of weclapp from German holding company 3U Holding. weclapp is a Frankfurt-based leading provider of cloud enterprise resource planning and customer relationship management software designed for small and midsized enterprises (SME). Financial terms of the transaction, completed on September 30, were not disclosed.

Since its acquisition by KKR in 2019, on which Paul, Weiss also advised, Exact has experienced rapid growth; it plans to continue to pursue further M&A in the region to drive consolidation and the transition to cloud. The acquisition of weclapp will allow Exact to provide best-in-class cloud-based services at a time when cloud-based SME solutions are experiencing significant growth across German-speaking areas of Europe.

The Paul, Weiss team included corporate partners Alvaro Membrillera and Adam Wollstein.