Member Article

Clearwater advises on acquisition of software firm

Manchester-based Clearwater Corporate Finance has advised Warwick-based software firm, Rivo Software, as it is acquired by Kennet Partners and Fidelity Growth Partners Europe.

Founded eight years ago, Rivo is a provider of environmental, health and safety, quality and loss prevention management software.

The firm’s product is used across 82 countries in 32 languages by more than 140,000 people, and it boasts clients such as Siemens, Crossrail and BP.

Kennet Partners and Fidelity Growth Partners Europe, both of whom have offices in London, are also making a significant capital investment into the business, which they hope will support global growth.

Co-investor Steve Husk, who is the former chief executive of FRSGlobal, will join Rivo Software as executive chairman.

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.”

Partner and head of TMT at Clearwater Corporate Finance, Carl Houghton, 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.”

This was posted in Bdaily's Members' News section by Miranda Dobson .