{"id":7946,"date":"2020-06-16T12:50:33","date_gmt":"2020-06-16T12:50:33","guid":{"rendered":"https:\/\/www.findadistributor.com\/news\/?p=7946"},"modified":"2020-06-16T12:51:11","modified_gmt":"2020-06-16T12:51:11","slug":"accel-kkr-invests-in-pinc","status":"publish","type":"post","link":"https:\/\/www.findadistributor.com\/news\/accel-kkr-invests-in-pinc\/","title":{"rendered":"Accel-KKR Invests in PINC"},"content":{"rendered":"

PINC, a leader in digital yard solutions, has secured a significant growth equity investment from Accel-KKR, a technology-focused private equity firm.<\/p>\n

The investment will fuel PINC\u2019s momentum in becoming a global category leader in supply chain management software through strategic acquisitions and a focused organic growth plan.<\/p>\n

Gartner has estimated supply chain management software to be a $17 billion addressable market growing at approximately 10% a year. However, with 66% of logistics budgets spent on moving only 10% of total inventory, the remaining 90% of inventory at rest is not optimized for bottom-line impact and efficiency gains.<\/p>\n

Since its founding in 2004, PINC has been a pioneer in providing real-time visibility and workflow orchestration to yard operations across distribution centers and manufacturing plants worldwide \u2013 achieving Gartner\u2019s \u201cbest of breed\u201d status in this category. PINC\u2019s platform is currently utilized by an array of Fortune 1000 enterprises and gives companies a cost-effective way to move inventory faster and optimize their supply chain.<\/p>\n

\u201cAs global trade and consumer demands drive more complexity, effective yard management has quickly become pivotal in robust supply chain management practices,\u201d said Matt Yearling, CEO of PINC. \u201cThe linkage between transportation and warehousing needs to be more seamless when complexity increases, and strong digital yard management can be a major operational cost driver in improving inventory management, labor costs, asset utilization, sustainability and facility costs. Together with Accel-KKR and its deep domain expertise in supply chain management technology, PINC is well-positioned to become a category leader in a fast-growing field, and ultimately serve the market and our customer base with more innovations and strategic acquisitions. We are tremendously excited about the company\u2019s future with Accel-KKR.\u201d<\/p>\n

\u201cWe are thrilled to welcome Matt and the PINC team to the Accel-KKR portfolio,\u201d said Park Durrett, Managing Director at Accel-KKR. \u201cOur firm has a strong track record of investing in and building successful supply chain software businesses, and we look forward to doing the same with PINC.\u201d<\/p>\n

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Park\u2019s current board seats include: Abrigo, ESG, HighWire Press, OrthoFi, Reapit and Sandata Technologies.<\/p><\/div>\n

\u201cWhile transportation and warehouse management have been the focus of supply chain management tech spend over the last decade, there is now substantial demand for the digitization of the yard,\u201d said Andrew Zbella, Vice President at Accel-KKR. \u201cPINC is truly best in class and poised to solve complex and costly inventory management problems for customers whose businesses could grind to a halt with the smallest hiccup in their supply chain.\u201d \u00a0<\/span><\/p>\n

\u201cIndeed, there has not been a more important test of PINC\u2019s capabilities than during this unprecedented time of disruption caused by the COVID-19 pandemic. PINC supported numerous essential Fortune 1000 companies seamlessly despite a massive surge in volume and velocity, ensuring that these organizations have been able to serve their end customers under challenging circumstances,\u201d Accel-KKR\u2019s Durrett added. \u201cPINC perfectly embodies the kind of investment that Accel-KKR seeks: mission-critical software in an enduring industry with compelling growth opportunities led by a strong management team.\u201d<\/p>\n