KKR, the global investment firm, has recently announced its acquisition of a majority stake in the contract lifecycle management (CLM) company Agiloft. This transaction also includes additional investments from FTV Capital, an existing investor, and JMI Equity, which is joining as a new investor. The deal aims to support Agiloft’s continued expansion and innovation in CLM software solutions. Details of the announcement can be found here.
Agiloft’s data-first CLM software helps various departments within organizations—such as legal, procurement, and sales—manage and streamline their contracting processes. The platform provides a comprehensive view of all contracts, facilitating increased efficiencies and improved operational outcomes. According to the CEO of Agiloft, Eric Laughlin, the company has focused on customer satisfaction and retention, a strategy that has led to its growth and differentiation in the market.
The new investment from KKR and JMI Equity, along with continued support from FTV Capital, underscores the strength of Agiloft’s offering and its potential for market leadership. Jimmy Miele, Director at KKR, highlighted the company’s ability to offer a simple, one-stop solution for contract management, while Alex Mason of FTV Capital pointed out the significant growth potential in the CLM market.
Part of the strategic plan includes a broad-based employee ownership program, intending to engage and motivate Agiloft’s workforce by allowing employees to benefit directly from the company’s success. KKR will make this investment through its Next Generation Technology III Fund, adding Agiloft to its portfolio of technology and software investments.
Moelis & Company LLC acted as the exclusive financial advisor to Agiloft, while Baker McKenzie provided legal advice to Agiloft and Gibson, Dunn & Crutcher LLP advised KKR.