(Bloomberg) -- Private equity firm KKR & Co. has struck an agreement to acquire a majority interest in Apexanalytix, a tech developer for supply chain risk management services, according to a statement reviewed by Bloomberg News.

Carousel Capital, a Charlotte-based investment firm and the largest shareholder in Apexanalytix, will retain a minority stake as part of the deal, the companies said in a statement. Financial terms of the deal weren’t disclosed.

With headquarters in Greensboro, North Carolina, and offices globally, Apexanalytix provides data-backed software and services used for supplier management, fraud prevention and overpayment recovery. The company sells a suite of branded software products, including: firststrike, apexportal and smartvm. It plans to use the investment from KKR to accelerate product development, global expansion and talent recruitment.

Chief Executive Officer Steve Yurko said that, with KKR’s resources and experience, Apexanalytix will have “even greater agility” to address customer needs. “We are grateful to the Carousel Capital team for playing a key role in our growth over the past eight years and we look forward to continuing this great relationship,” he added

For KKR, Apexanalytix fits into the fold of the New York-based buyout firm after its numerous deals in the supply chain technology sector. The investment for the deal is being made through the North America Fund XIII, the firm said.

In December, KKR acquired warehouse-management software developer Koerber AG for roughly $1.7 billion. Other recent investments by the firm include o9 Solutions and Hitachi Transport System.

“Apex sits at the intersection of multiple themes where we have had strong conviction over the past decade, including digitization and data-enabled platforms, the increasing fragmentation of global supply chains, and the rise of sophisticated technology solutions and tech-enabled services that can create operational efficiencies and generate tangible savings,” said Webster Chua, a partner at KKR.

The acquisition is slated to close in the second half of this year. UBS Investment Bank served as financial adviser to KKR, while Kirkland & Ellis acted as legal counsel. William Blair & Co. LLC advised Apexanalytix and Carousel Capital on the deal, with both entities also represented by K&L Gates LLP. 

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