Spurrier Capital Partners is pleased to announce our role as the sole strategic advisor to Accela on its divestiture of Springbrook to Accel-KKR. Springbrook provides a cloud-based integrated platform spanning ERP and Payments Software for municipalities and special districts across the United States. Based in Portland, OR, Springbrook operated as an independent subsidiary of Accela, a leading Public Sector Software provider backed by Berkshire Partners and ABRY Partners.
Springbrook’s ERP platform offers a comprehensive set of modules across Utility Billing and Finance / HR, and seamlessly integrates Utility Billing modules with its multi-channel government Utility Payments solution, delivering a full spectrum Utility Management solution for local governments.
“The team at Spurrier Capital Partners was an essential part of the process and helped us achieve an exceptional outcome for Springbrook,” stated Max Schnoedl, CEO of Springbrook. “SCP demonstrated a very strong understanding of the Company and the Local Government Software market as a whole, enabling them to connect us with the best partner who shares our vision going forward.”
“SCP curated a bespoke and highly efficient process that allowed the Springbrook team to both maximize value and partner with an experienced and market-leading firm,” stated Tom Kuo, Managing Director at Berkshire Partners. “SCP’s deep domain expertise and execution capabilities were crucial in achieving this excellent result, and we look forward to partnering with their team again.”
“SCP’s coordination with management and knowledge of the business allowed us to easily recognize the strategic value of the Springbrook asset,” commented Dean Jacobson, Managing Director at Accel-KKR. “We were delighted with the work that the entire SCP team put forward throughout the process. Their deep industry knowledge and dedication to the process facilitated an exciting transaction for all parties.”
“The Springbrook deal highlights SCP’s domain expertise in Government Software. This transaction represents our fourth deal in the sector, and displays our commitment to achieving the best outcome for all parties,” stated Clark Spurrier, Founder and CEO of Spurrier Capital Partners. “We are excited to have had the opportunity to work with Springbrook, Accela, Berkshire Partners, ABRY Partners, and Accel-KKR on this transaction, and are thrilled with the result.”
“This announcement represents a transformative development not only for the parties involved, but also for the Local Government Software market as a whole,” stated Griffin Bealle, Director at Spurrier Capital Partners. “Municipalities and special districts prefer an integrated platform, and Springbrook’s compelling combination of mission-critical ERP and next-generation Payments delivers on this demand. We are eager to see Springbrook execute on this opportunity in its next chapter as an independent company.”
SCP Experience in Government Software
The deal team was led by Clark Spurrier, Griffin Bealle, Mike DeMatteis, Sandeep Rishi, and Jason Myers.
Please do not hesitate to reach out to us with any questions.