Private equity investment firm Accel-KKR has sponsored acquisition vehicle M2 Technology Partners, LLC to acquire middle market enterprise software businesses in the  $25 million to $250 million range, that require specific operational expertise, or are ready for consolidation. in keeping eith its own strategy of investing in technology companies in the revenue range of $15 million to $150 million.

The companies will be consolidated as assets under M2, which will  have an enterprise value of $400 million to $600 million. Details of Accel-KKR's investment in M2 Technology Partners were not disclosed.

Accel-KKR makes majority investments in mid-market technology companies with a focus on acquisitions and recapitalisations of closely-held private companies; buyouts of divisions, subsidiaries and business units from larger enterprises; and transactions aimed at taking companies private.

M2 is led by Mark Duffell, former president and chief operating officer of Epicor Software Corporation  and Michael Piraino, former executive vice president and chief financial officer at Epicor. In addition to leading M2, Messrs. Duffell and Piraino will serve as advisors to Accel-KKR and be members of its Operating Advisory Committee.

Both senior software industry executives have a long track record of building and successfully operating enterprise software companies through organic and acquisitions-based growth strategies.

Duffell was responsible for Epicor's global operations (2,600 employees), headed the strategic planning committee and was the chief architect of successfully integrating numerous acquisitions, including Scala Business Solutions, CRS Retail Systems (an earlier Accel-KKR investment) and NSB Retail Systems.

Piraino was responsible for Epicor's worldwide accounting and finance, treasury, tax, information services, investor relations, legal and human resources. While at Epicor, Piraino led due diligence activities and negotiated all acquisitions playing a significant role in the Scala Business Solutions, CRS Retail Systems and NSB Retail Systems acquisitions. He also completed a $230 million convertible note offering and a $250-million bank facility during his tenure.

Tom Barnds, Accel-KKR managing director, said, ''We are extremely pleased to be joining forces with Mark and Michael. We have known them both for a number of years and we have great respect for their abilities.''

Ben Bisconti, another Accel-KKR managing director, added, ''They have a strong demonstrated track record of acquiring, operating and growing world class enterprise software businesses and we look forward to partnering with them on building M2.''