Kennet Partners, the technology growth investor, and Fidelity Growth Partners Europe (FGPE), the pan-European growth investor, have acquired Rivo Software, a software company based in Warwick, UK.
Rivo Software is a 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. 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 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 chief executive 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, says: “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 (pictured), partner at Fidelity Growth Partners Europe, says: “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, managing director at Rivo, says: “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.”
