STOCKHOLM, July 14, 2025 /PRNewswire/ -- Accel-KKR, a global technology-focused investment firm, today announced the successful closing of AARO, a leading provider of Corporate Performance Management (CPM) solutions, and bringing together AARO with financial software providers, Aico and Mercur. This marks a significant milestone in the formation of a unified company focused on delivering the most comprehensive, unified SaaS platform for finance and performance management in EMEA for the Office of the CFO.
To lead this newly formed group, Accel-KKR has appointed Michael Teixeira as Group Chief Executive Officer. Michael brings extensive leadership experience in scaling high-growth technology companies and will guide the strategic vision and growth of the combined entity.
A Transformative Merger for Financial Leadership
The combined entity of AARO together with Aico and Mercur cements its category leadership in EMEA, bringing together deep expertise across the financial close, planning and reporting spectrum:
- Aico: Automates and streamlines financial close processes.
- Mercur: Powers xP&A, budgeting, forecasting, business intelligence and financial analytics.
- AARO: Provides enterprise-grade consolidation and group reporting solutions.
Together, they create a powerful unified SaaS platform for finance and performance management that empowers finance and executive leaders with automation, compliance and actionable insights, supporting faster decision-making, enhanced governance and enterprise-wide visibility.
"This is more than a corporate merger; it's a strategic unification," says Michael Teixeira, Group CEO. "By bringing together AARO, Aico and Mercur, we're creating a unified, integrated cloud solution that supports CFOs across the entire value chain; from Record to Report through Consolidation and Reporting to XP&A, Budgeting, Forecasting and Analysis and from local transaction-close to consolidated group-level reporting. This positions us uniquely to serve the needs of growing enterprises across the EMEA region."
Market Reach and Customer Impact
Operating across the Nordics, UK, Ireland, BENELUX, DACH and Middle East & Africa, the combined company now powers finance operations for thousands of mid-market and enterprise customers with deep regional support and expertise.
Key benefits to customers will include:
- A unified SaaS platform for the Office of the CFO: A seamless cloud solution that supports the entire finance function across Record to Report, from local transaction-close to group-level consolidation, including consolidation, budgeting, forecasting, XP&A, and performance reporting. Increased accuracy and efficiency: AI-powered automation reduces manual effort, minimises risk and improves data integrity across financial close, consolidation and reporting.
- Unified user experience: An integrated platform that reduces system complexity and improves ease of use for finance teams.
- Ongoing innovation: Enhanced capabilities driven by the combined expertise of global product and engineering teams focused on solving challenges for the Office of the CFO.
- Future-ready scalability: A robust, modular solution that grows with the organisation's needs, whether expanding across entities, geographies or compliance regimes.
- Configurability: SaaS software that is highly adaptable to enterprise clients' complex environments, thereby removing the barrier to integrate with core systems, improving efficiency and reducing data silos.
Strategic Backing and Regional Scale
The merger follows Accel-KKR's investment in Aico and Mercur, and now the acquisition of AARO, reinforcing the firm's long-term commitment to building a category-leading financial cloud software suite.
"Our investment in Aico, Mercur and AARO stems from the vision to build a best-in-class, end-to-end SaaS financial platform," said Maurice Hernandez, Managing Director at Accel-KKR and Board Member. "By integrating three best-of-breed platforms under Michael's seasoned leadership, this fuels an ambitious expansion strategy across EMEA to create a powerhouse for the Office of the CFO,"
About AARO
AARO provides Corporate Performance Management (CPM) software for group accounting, consolidation and financial reporting. Used by multinational companies, it supports IFRS and local GAAP standards. Finance teams rely on AARO to streamline complex reporting processes with precision and efficiency. The company was founded in 1989 and has employees in Sweden, Latvia, Kenya, the United Arab Emirates, UK, and Finland. Learn more at www.aaro.com
About Aico Group
Aico is a financial close automation platform for mid-sized and enterprise companies. It enables faster, more accurate month-end reporting while ensuring compliance. Founded in 2019 in Finland, Aico serves leading European companies from offices in Finland, Germany, the UK and Latvia. Learn more at www.aico.ai
About Mercur Solutions
Mercur Solutions provides Corporate Performance Management (CPM) software for budgeting, planning, forecasting and reporting. Its cloud-based platform, Mercur Business Control, empowers organisations with automation and insights. Headquartered in Sweden with a UK office, Mercur has supported financial leaders for 50 years. Learn more at www.mercur.com
About Accel-KKR
Accel-KKR is a technology-focused investment firm with $23 billion in capital commitments. It partners with software and tech-enabled businesses to drive growth and value. Based in Menlo Park, with global offices, Accel-KKR invests across buyouts, minority stakes, carve-outs, and credit. Learn more at www.accel-kkr.com
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