Two former executives of Irvine-based Epicor Software Corp. have started an investment company with backing from two big private equity investors to buy and combine business software makers.
Mark Duffell, Epicor’s former president and chief operating officer, and Michael Piraino, former executive vice president and chief financial officer, started M2 Technology Partners LLC in Laguna Hills.
Duffell had been No. 2 at Epicor and left in May after current Chief Executive Thomas Kelly was named. He had been responsible for worldwide operations and spearheaded several acquisitions.
At M2 Technology Partners, Duffell is chief executive.
Piranio left Epicor in May. During his time there, he was part of Epicor’s strategic planning committee and worked on acquisitions.
The pair has received an undisclosed investment from Accel-KKR, an investment fund backed by private equity firms KKR & Co. and Accel Partners.
Duffell and Piraino will serve as advisers to Accel-KKR and be members of its operating advisory committee.
The two plan to acquire and help run business software makers serving midsize companies. M2 Technology Partners could look to combine acquired software makers.
The strategy is similar to that employed in recent years by Epicor, which provides software to midsize retailers, manufacturers, distributors, hotels and others.
Epicor has yearly sales of about $400 million and a market value of about $475 million. The company has made several major acquisition in recent years.
