Apax Partners sells retail tech provider Aptos to Goldman Sachs PE arm

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Apax Partners has agreed the sale of commerce tech platform provider Aptos to the private equity arm of Goldman Sachs.

The buyout house spun Aptos out of its portfolio company Epicor in 2015, four years after picking up that company in a $976m deal.

Apax said that since then Aptos has more than doubled its customer base to become one of the largest global enterprise software providers focused exclusively on retail.

Will Chen, managing director at Goldman Sachs, said, “When evaluating the retail software market, it became apparent that Aptos is a leader in delivering differentiating and built-for-the-future innovation.

“With the strength of Aptos’ executive team, the company is uniquely positioned to help retailers develop resilient and thriving enterprises that can adapt to shifting consumer trends and market conditions.”

Previous Apax investments in the software sector included TriZetto, Plex Systems, RealPage, Sophos and Exact Software.

The firm is currently out targeting up to an $11bn hard cap for its tenth flagship buyout fund, which is believed to be nearing a final close.

Commitments to the vehicle to date have come from LPs including the Pennsylvania Public School Employees Retirement System, Washington State Investment Board and Minnesota State Board of Investment.

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