• Previously part of IFS, WorkWave provides software solutions for field service management serving small-to-medium sized businesses with a particular stronghold in the US pest control industry
• WorkWave announces the completion of two transformational add-on acquisitions in the US, Real Green and Slingshot, to further strengthen its leadership position in asset-light field service management software
• EQT and TA Associates will leverage their strong sector experience, global platforms and extensive advisory networks to support WorkWave’s accelerated growth agenda as a standalone portfolio company

EQT is pleased to announce that WorkWave (the “Company”) will become a standalone portfolio company of the EQT VIII and EQT IX funds (“EQT Private Equity”) following its separation from IFS, a global provider of enterprise software focused on the moment of service.

Headquartered in Holmdel, New Jersey, WorkWave is a frontrunning software solutions provider for the field service management (FSM) industry and serves verticals including the green industry, cleaning & janitorial, and route management with a particular stronghold in the US pest control market. WorkWave was originally acquired by IFS, an EQT Private Equity and TA Associates portfolio company, in 2017 and since then, has completed several strategic initiatives, including strengthening its product platform and launching a highly appreciated payments offering.

With WorkWave and IFS performing exceptionally well (IFS growing cash EBITDA over 70 percent in 2020) and the two businesses serving increasingly different customer groups, it became clear over time that WorkWave’s full potential journey could be even further accelerated under a standalone ownership. As part of the full potential strategy, WorkWave is completing two transformational add-on acquisitions in the US, Real Green Systems (“Real Green”) and Slingshot.

The acquisition of Real Green, a Michigan-based provider of software and payment solutions for the FSM industry, further cements WorkWave’s strong position in asset-light FSM software. Moreover, the acquisition of Slingshot, a provider of customer call center software headquartered in Utah, demonstrates WorkWave’s commitment to building a company that is the best partner in the industry for its customers.

The two acquisitions are expected to add significant strategic value to WorkWave and its customers by further strengthening the multi-vertical software, payments and service offering for field service management. Moreover, the add-ons provide an exceptional platform to accelerate growth via organic initiatives and additional strategic M&A.

Johannes Reichel, Partner within EQT Private Equity’s Advisory Team, said, “Having followed WorkWave closely under IFS’ ownership, we are extremely impressed by the management team’s execution of transformative strategic initiatives. This has cemented WorkWave’s position as an industry leader helping to create the best service organizations possible and thereby generating superior growth. Further, we are very excited about the recent transformational acquisitions and the strategic value they will bring to the WorkWave platform and WorkWave’s customers.”

David F. Giannetto, CEO at WorkWave, further commented, “WorkWave is now entering a phase where our products will improve and expand rapidly as we increase what was already an industry-leading level of investment into our technology development and support capabilities. The acquisition of RealGreen represents two successful and fast-growing companies coming together to create something truly special. It marks the beginning of a new chapter where WorkWave will help our customers go beyond service to create effective, fast-growing, highly profitable service organizations that also deliver the best service experience possible.”

Darren Roos, CEO of IFS, who will now serve as WorkWave’s Chairman of the Board, concluded, “I am confident that, under David Giannetto’s leadership, WorkWave will continue to transform into something unique. WorkWave is expanding its position as a market leader to new verticals and continuing to solidify the deep connection with its customer base that it is known for.”

Existing IFS minority shareholder TA Associates will remain invested in WorkWave alongside EQT Private Equity and new partner Serent Capital, the former owner of RealGreen. WorkWave’s CEO, David F. Giannetto, will continue to lead the combined company, further supported by IFS CEO and WorkWave Chairman of the Board, Darren Roos.

The transactions, including the separation of WorkWave from IFS and the add-on acquisition of RealGreen, are expected to close by the end of June 2021. The acquisition of Slingshot was completed on 30 April 2021. The parties have agreed not to disclose the transaction value or financial details related to the deals.

Kirkland & Ellis and PwC served as advisors to EQT Private Equity.

Contact
EQT Press Office, press@eqtpartners.com, +46 8 506 55 334

About EQT
EQT is a purpose-driven global investment organization with more than EUR 67 billion in assets under management across 26 active funds. EQT funds have portfolio companies in Europe, Asia-Pacific and the Americas with total sales of approximately EUR 29 billion and more than 175,000 employees. EQT works with portfolio companies to achieve sustainable growth, operational excellence and market leadership.

More info: www.eqtgroup.com
Follow EQT on LinkedIn, Twitter, YouTube and Instagram

About WorkWave
For nearly 40 years, WorkWave has been building best practices into its market-leading field service and last mile software solutions to allow best-in-class companies to grow their business, service their customers, and maximize their money. Its solutions empower service-oriented companies to reach their full potential through scalable, cloud-based software solutions that support every stage of a business life cycle, including marketing, sales, service delivery, customer interaction, and financial transactions. WorkWave is a trusted partner for thousands of customers across a wide variety of industries, including pest control, lawn care, cleaning, HVAC, plumbing and electrical, and last mile delivery. WorkWave’s award-winning culture and solutions have been recognized in the SaaS Awards, the Cloud Awards, the American Business Awards, the NJBIZ Best Places to Work Awards, and the Stevie Awards for Great Employers.

More info: www.workwave.com

About RealGreen
Walled Lake, MI-based Real Green Systems has more than 35 years of experience providing software and marketing solutions for the lawn care, landscaping, arbor care, and pest control industries. Its flagship solution, Service Assistant, is the premier customer relationship management software used by thousands of companies worldwide to streamline and grow their businesses. Along with offering a complete portfolio of integrated solutions, including: Automated Marketing Assistant, Customer Assistant Websites, Measurement Assistant, Mobile Live, Routing Assistant, and Real Green Payment Processing, Real Green Systems continues to partner with other industry innovators to provide leading-edge business operation software with the broadest range of features and the most advanced marketing tools.

More info: www.realgreen.com

Funds advised by Apax (the “Apax Funds”) today announced that they have reached an agreement to acquire CyberGrants (or “the Company”), a leading provider of Software-as-a-Service (SaaS) solutions for corporate social responsibility (CSR), employee engagement, and volunteer management, from Waud Capital Partners. The transaction is expected to close in Q3 2021. Financial terms were not disclosed.

CyberGrants delivers market-leading CSR software solutions to some of the most respected companies and foundations in the world, helping them quickly activate their charitable causes to realize strategic, measurable outcomes. Its single platform solution enables customers, including more than half of the Fortune 100 companies, to easily scale their CSR programs and quickly transform grants and giving initiatives into impact that closely aligns with their corporate mission and values. CyberGrants’ network connects 10 million employees and their employers with 650,000 not-for-profit organizations.

Since its inception, Apax has been committed to creating a positive impact on the people and communities in which it operates. In 2006, the firm established the Apax Foundation to focus on grants and employee donations to enable social mobility in underserved communities. This experience, coupled with the Apax Tech team’s deep expertise in enterprise software, makes CyberGrants a unique platform investment for the firm. The Apax Funds will look to support CyberGrants as it continues to enhance its product suite, attract new customers, and pursue a broader impact-oriented growth strategy.

Mark Layden, CEO of CyberGrants, said: “The market for corporate social responsibility software is rapidly evolving as organizations look for enhanced agility to manage their expanding, and increasingly sophisticated, CSR programs to achieve social impact, and we’re excited to partner with Apax for the next phase of our journey. Their experience and know-how of both enterprise software and charitable giving markets will be of great value as we continue to enhance our platform to better support customers. I would like to thank Waud Capital Partners for their unwavering support over the past six years.”

Jason Wright, Partner at Apax, said: “We are thrilled to partner with CyberGrants and we look forward to supporting them in their mission to help organizations maximize their impact. For over a decade, Apax and the Apax Funds’ portfolio companies have strived to achieve measurable ESG and CSR objectives, and we continue to look for ways to increase our positive impact on society and the environment. These initiatives are made easier with the help of companies like CyberGrants.”

Adam Garson, Principal at Apax, added: “CyberGrants’ longstanding relationships with an extensive list of blue-chip customers is testament to the quality of their software platform. They have made significant investment in their product in recent years to drive customer satisfaction and impact outcomes, and we look forward to supporting Mark and the team as they look to improve their platform and grow their product into new markets.”

Matt Clary, Partner at Waud Capital Partners, commented: “Mark and his team have built a cloud leader in the emerging category of CSR, and have stayed focused on product excellence, customer commitment, and delivering on their social mission around the globe. We are very proud to have been their partner during this exciting period of growth and know they will continue to have success with their outstanding new partner, Apax.”

Apax was advised by Evercore (financial advisor) and Skadden, Arps, Slate, Meager & Flom (legal advisor). CyberGrants and Waud Capital Partners were advised by Raymond James (lead financial advisor), Shea &Co. (co-financial advisor), and Kirkland & Ellis LLP (legal advisor).

Funds advised by Apax (the “Apax Funds”) and ChrysCapital today announce that they have reached an agreement for the Apax Funds to acquire Infogain, a Silicon Valley-based leader in digital transformation and software services. The transaction is subject to customary closing conditions and is expected to close in Q3 2021. Terms of the transaction were not disclosed.

Founded in 1990 and headquartered in Los Gatos, California, Infogain provides human-centered digital platform engineering services to its customers. With a team of 5,000 globally, Infogain serves companies, including Fortune 500 customers, in the travel, healthcare, retail/consumer packaged goods (CPG), insurance, telecom, and tech industries, supporting them in their artificial intelligence, experience design and cloud journey, using advanced software technologies.

Drawing on the Apax Tech team’s significant experience in the tech-enabled services sub-sector, with 15 deals over the last 10 years, the Apax Funds, in partnership with Infogain’s management team, will look to continue and accelerate Infogain’s journey as a market leading digital transformation partner to its customers. Infogain has built a strong platform for growth with an impressive global customer base, and the Apax Funds will support the company’s continued focus on innovation, service excellence and customer impact.

Ayan Mukerji, incoming CEO of Infogain, said “We are excited to bring Apax on board as we embark on our next growth phase. Apax’s experience, track record and deep knowledge of the industry will help supercharge our growth, organically and through new strategic acquisitions. We will leverage opportunities to deepen and diversify our service offerings to support our clients’ – and our own – transformation journeys.”

Sunil Bhatia, outgoing CEO of Infogain, added “It was a great pleasure to have built an organization that is recognized among the Global Top 50 engineering services providers[1]. It has been a privilege to work alongside a world-class team to serve our customers without whom none of this would have been possible. I wish Ayan and Infogain all the very best for the future and would like to thank ChrysCapital for their unwavering support over the past several years.”

Shashank Singh, Partner at Apax, said “Digital engineering and technological excellence continue to be key competitive advantages across industries, and Infogain, with its platform strategy and highly talented team, is exceptionally well placed to help drive innovation and support its customers in developing differentiated human-centered solutions. Infogain has built an impressive platform with global delivery, strong product capabilities, and a loyal customer base. We are excited to partner with Ayan and the team to support them and their customers in this next phase of growth.”

Rohan Haldea, Partner at Apax, added: “Digital transformation and software engineering services have been key areas of focus for the Apax Funds over the last decade, underpinned by multiple successful investments. We’re excited to bring our experience in the space to the team at Infogain and to accelerate their expansion and investment in capabilities that enhance their global platform, delivering ever greater value for customers.”

Apax was advised by Kirkland & Ellis (legal advisor). Infogain was advised by Credit Suisse (financial advisor). ChrysCapital was advised by WSGR (legal advisor).

[1] Everest Group FY 2021

Menlo Park, USA and London, United Kingdom, 1 June 2021 – Silver Lake, a global leader in technology investing, today
announced that it has agreed to make a minority investment in Exact, a leading provider of business and accounting software in
the Benelux region. This investment will be in partnership with the management team, led by CEO Paul Ramakers, and the
company’s existing investor, KKR, which will remain the majority shareholder.
Founded in 1984 and headquartered in Delft, the Netherlands, Exact’s innovative software solutions today help more than 9,900
accountants manage the finances of small and mid-size enterprises and provide over 550,000 small businesses with high valueadd
solutions in the cloud. Exact’s mid-market enterprise resource planning (“ERP”) solutions are also used by over 16,000 midsized
firms, with a choice of cloud or on-premise deployment. The company’s integrated software suite includes Financial
Management, Logistics, CRM, HR, and Payroll. Since the acquisition by KKR in 2019, Exact has experienced rapid growth
and has expanded its market leadership.

Jean-Pierre Saad, Partner and Head of EMEA Technology at KKR, Daniel Knottenbelt, Partner and Head of Benelux at KKR
and Tomas Kubica, Director Technology Private Equity at KKR, said: “We are delighted to welcome Silver Lake as an investor
alongside us in Exact, one of the leading European SaaS businesses. We have seen tremendous growth in recent years under the
leadership of Paul Ramakers and the entire team. The company continues to be a leading platform to provide accounting and
business software in the Benelux region and beyond, notably with its flagship SaaS product Exact Online, and we believe that
Silver Lake’s relevant experience will further contribute to the growth and ambitious expansion strategy of Exact.”

Christian Lucas, Co-Head of Silver Lake EMEA, said: “Exact fits very naturally into Silver Lake’s strategy of investing in high
growth, innovative and world leading technology companies. Paul and the Exact team have achieved a strong growth trajectory,
and we have been impressed by the high quality of their best-in-class SaaS solutions. We are excited to partner with the
management team and KKR, one of the world’s leading technology and software investors, to contribute to the next stage of
Exact’s development towards achieving its full long-term potential.”

Paul Ramakers, CEO of Exact, said: “We are proud of what Exact has already achieved with the strong support of the KKR
team. Together, with our outstanding team and business partners, we have built a successful business, with a strong track record
of supporting both accountancy firms and small and mid-size businesses in Benelux. As we enter the next exciting stage of our
growth story, we look forward to leveraging Silver Lake’s software domain expertise and extensive industry network.”
The transaction is anticipated to close in the third quarter subject to customary conditions and regulatory approvals. Further
terms of the investment are not being disclosed at this time.

About KKR
KKR is a leading global investment firm that offers alternative asset management and capital markets and insurance solutions.
KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing
world-class people and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the management of The Global Atlantic Financial Group. References to
KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information
about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at kkr.com and on Twitter @KKR_Co.

About Silver Lake
Silver Lake is a leading global technology investment firm, with more than $83 billion in combined assets under management
and committed capital and a team of professionals based in North America, Europe, and Asia. Silver Lake’s portfolio companies
collectively generate more than $196 billion of revenue annually and employ more than 448,000 people globally. For more
information about Silver Lake and its portfolio, please visit Silver Lake’s website at silverlake.com.

About Exact
Founded in 1984 and headquartered in Delft, the Netherlands, Exact’s innovative solutions today help over 9,900 accountants
manage the finances of over 550,000 small businesses in the cloud. Exact’s mid-market enterprise resource planning (“ERP”)
solutions are also used by over 16,000 mid-sized firms, with a choice of cloud or on-premise deployment. The company’s
integrated software suite includes Financial Management, Logistics, CRM, HR, and Payroll. Exact employs 1,850 people. For
more information on Exact, please visit exact.com.

Contacts:
KKR Silver Lake
Alastair Elwen / Nidaa Lone Jennifer Stroud
KKR@fgh.com SilverLakeMedia@Edelman.com
+44 (0)207 251 3801 +1-646-565-1792