h3. Leading environmental, health and safety software vendor to accelerate global expansion and target broader reputational risk market
London, UK – 20 June 2013 Kennet Partners, the technology growth investor, and Fidelity Growth Partners Europe (FGPE), the pan-European growth investor today announced the acquisition of Rivo Software, a fast- growing software company based in Warwick, UK.
Rivo Software is a global provider of environmental, health and safety, quality and loss prevention management software. Founded eight years ago, the company helps businesses manage compliance and business risk through its cloud-based software. It gives senior executives clear, accurate and timely information to identify and highlight trends, which in turn enables the protection of people, revenue and ultimately a company’s reputation across the globe. The company’s products are used in 82 countries, in 32 languages by over 140,000 people. Clients include ABB, BP, Chevron, Crossrail, Siemens, Thames Water, Veolia, and many others.
Simultaneous with the acquisition, Kennet Partners and Fidelity Growth Partners Europe are making a significant capital investment into the business, aimed at supporting the company’s global growth and driving awareness of broader business issues around reputation risk. As part of the deal, co-investor Steve Husk will join the business as Executive Chairman. Husk, who was previously CEO of FRSGlobal, a business backed by Kennet Partners and acquired by Wolters Kluwer, brings a wealth of experience in the governance, risk and compliance (GRC) category.
Hillel Zidel, Director at Kennet Partners said, “Rivo is a great example of our growth buyout investment strategy where we pair successful businesses with world class executives. Rivo has built an impressive business addressing a large global market, in a capital efficient manner. Together with management, Steve Husk and FGPE we are excited about building Rivo into a leader in the area of reputational risk management”.
Davor Hebel, Partner at Fidelity Growth Partners Europe said, “Rivo has a world-class product that gives insight into the heart of every business’s two biggest assets – their people and their reputation. The ability to understand reputational and people risk is becoming a top priority for senior executives and boards around the globe, and Rivo is well-placed to address their needs. We look forward to being part of the Rivo success story.”
Ken Baxter, MD at Rivo said, “We are really excited about the acquisition by Kennet and FGPE. They have seen the amazing potential for our business to be a dominant global player and in addition to the capital investment, they also bring a wealth of expertise and a wide network. Their support will help us to extend our high levels of service to new clients around the world. It’s a great opportunity for the business and for our clients.”
h2. About Rivo Software
Rivo Software serves a global client base from offices in the UK and USA. With clients in 82 countries, Rivo helps clients manage business risk and compliance. The company provides an enterprise level software solution, Safeguard, to manage business risk and compliance. Since being named on the Deloitte Technology Fast 500 EMEA – highlighting the company as one of the fastest-growing companies in Europe, The Middle East and Africa – Rivo has continued its global growth across numerous markets.
h2. About Kennet Partners
Kennet is a leading international growth equity firm that invests in companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $600 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Conduct Authority.
h2. Fidelity Growth Partners Europe
Fidelity Growth Partners Europe is a venture and growth capital investor that backs technology entrepreneurs with aspiration to greatness. By combining a collaborative approach with a global network and a 40-year history of venture investing, FGPE helps companies accelerate their growth and become true leaders in their field. A strong track record in Europe includes investments in market leaders such as Curam (IBM), Newbay (RIM), Seatwave, InnoGames, Wahanda and Notonthehighstreet. FGPE is investing a £100 million fund dedicated to backing fast-growing European technology companies. www.fidelitygrowthpartners.eu
For further information please contact:
Rivo Software:
Ken Baxter
+44 (0)1926 622 320
ken.baxter@rivosoftware.com
Kennet Partners:
Deepa Patel
+44 (0)20 3004 3259
dpatel@kennet.com
Fidelity Growth Partners Europe:
Neil Thomas/ Jennifer Janson
+44 (0)118 900 0860
Jennifer.janson@sixdegreespr.com