Leading environmental, health and safety software vendor to accelerate global expansion and target broader reputational risk market.
Kennet Partners, the technology growth investor, and Fidelity Growth Partners Europe (FGPE), the pan-European growth investor, have acquired Rivo Software, a fast- growing software company based in Warwick, in a deal advised on by Clearwater Corporate Finance.
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 software is 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.
Clearwater Corporate Finance advised shareholders of Rivo on the transaction. The deal team was led by head of TMT Carl Houghton, director Seb Saywood and Director, TMT Market Intelligence Emma Rodgers.
Clearwater Corporate Finance said: “We instantly recognised in Rivo attributes that would give it huge appeal to investors – enterprise customers, scalable software-as-a-service technology, an international footprint and a very clear return on investment to its happy customers.”
Ken Baxter, managing director of Rivo, added: “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.”