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  • March 2021 (Revised August 2021)
  • Case
  • HBS Case Collection

Apax Partners and Duck Creek Technologies

By: Josh Lerner, Terrence Shu and Alys Ferragamo
  • Format:Print
  • | Language:English
  • | Pages:18
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Abstract

This case follows Jason Wright and Umang Kajaria at Apax Partners as they consider an investment in Duck Creek Technologies, a technology provider for property & casualty insurance companies. The deal required a complex carve-out from Accenture, Duck Creek’s parent organization, and several operational improvements to rejuvenate the company. The case provides the opportunity to evaluate the deal’s investment thesis, structure, and risks, along with calculating Duck Creek’s valuation.

Keywords

Carve-out; Private Equity; Insurance; Investment; Operations; Valuation; Financial Strategy; New York (city, NY)

Citation

Lerner, Josh, Terrence Shu, and Alys Ferragamo. "Apax Partners and Duck Creek Technologies." Harvard Business School Case 221-075, March 2021. (Revised August 2021.)

About The Author

Josh Lerner

Entrepreneurial Management
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