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HIG sells Riveron to Kohlberg

HIG Capital, a global alternative investment firm with $57 billion of capital under management, has sold its portfolio company Riveron, a business advisory firm, to affiliates of Kohlberg & Company. 

HIG Capital (HIG), a global alternative investment firm with $57 billion of capital under management, has sold its portfolio company Riveron, a business advisory firm, to affiliates of Kohlberg & Company (Kohlberg). 

Financial terms of the transaction, which will see HIG retain a minority investment in Riveron, have not been disclosed.

Founded in 2006, Riveron provides a suite of accounting, finance, technology, and operations services that span the business lifecycle. With over 700 employees across 12 offices in the US, Riveron’s client base includes CFOs and private equity firms.

HIG acquired Riveron in May 2019. During HIG’s ownership, the company executed on a series of strategic growth initiatives and acquisitions to triple revenues.

Jefferies Group LLC and Moelis & Company acted as financial advisors to Riveron and McDermott Will & Emery acted as legal counsel to HIG and Riveron in connection with the transaction. Guggenheim Securities, LLC and Citizens served as financial advisors to Kohlberg. Ropes & Gray LLP and Greenberg Traurig, LLP acted as legal counsels to Kohlberg.

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