Fri, 17/05/2019 - 09:51
An affiliate of HIG Capital (HIG), a global investment firm focused on partnering with middle market companies, has entered into a definitive agreement to make a growth investment in business advisory firm Riveron.
Riveron offers a comprehensive suite of consulting solutions to its clients, including accounting advisory (such as technical accounting, implementation of new accounting standards, business combinations and accounting for income taxes), accounting and finance operations (such as audit readiness, operational accounting and finance transformation), capital markets and divestitures (such as IPO readiness, carve-outs and back office stand-up), performance improvement (such as process improvement, technology enablement and earnings enhancement), transaction services (such as buy-side, sell-side, tax and operational diligence, lender services and integration), and recovery and transformation services (such as restructuring advisory).
Riveron was founded in Dallas in 2006 by CEO Landon Smith, who has overseen its strategic expansion into seven additional markets: New York City, Washington DC, Atlanta, Houston, Denver, Chicago and Minneapolis. Today the firm, with expert consultants that bring a unique blend of public accounting, consulting and industry experience, serves a diverse group of nearly 500 clients annually across the corporate, private equity and lender communities.
Smith says: “I am proud of the tremendous growth that Riveron has achieved over the last thirteen years. Our success is due to our talented people and steadfast commitment to being a hands-on and trusted partner to our clients, providing the resources, expertise and guidance necessary to help them navigate transformational change.
“We are excited to enter our next phase of growth and welcome HIG as our new growth partner. HIG brings significant resources and connections that will help us grow and deliver an even stronger offering while retaining our commitment to clients above all else.”
HIG’s investment will support Riveron’s plans to strengthen its existing capabilities and to continue growth in new geographies, such as the recently opened New York office, and new service lines, including the recently launched restructuring and tax advisory practices.
Keval Patel, Managing Director at HIG, says: “Riveron has become a market-leading advisory firm that is known for its deep accounting and finance expertise and strong track record of helping clients maximise the value of strategic change. We have been extremely impressed with Riveron’s management team and the quality of their people, a testament to the strong and unique culture that underpins how Riveron approaches clients. We look forward to partnering with Landon and the entire management team to support Riveron’s continued growth.”
Terms of the transaction, which is expected to close by the end of May, have not been disclosed.
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