H.I.G. Capital, a global alternative investment firm with $57 billion of capital under management, completed the sale of its portfolio company Riveron to affiliates of Kohlberg & Company. H.I.G. will continue its partnership with Riveron through a minority investment. The sale was first announced in June.
Founded in 2006, Riveron helps clients navigate today’s most complex business challenges through its end-to-end suite of accounting, finance, technology and operations services that span the business lifecycle.
H.I.G. acquired Riveron in May 2019. During H.I.G.’s ownership, the company executed on a series of strategic growth initiatives and acquisitions to triple revenues.
“H.I.G. has been a tremendous partner to Riveron and instrumental in helping us execute on our strategic vision,” Julie Howard, CEO of Riveron, said. “This transaction marks a significant milestone in Riveron’s growth journey and accelerates our path to becoming the preeminent independent financial consulting firm serving corporate management teams, private equity firms, lenders and other intermediaries. We are grateful for the continued support from H.I.G. and we welcome our new partnership with Kohlberg.”
“When we invested in Riveron four years ago, we were excited to partner with a fast-growing, entrepreneurial organization with a differentiated culture,” Keval Patel, managing director at H.I.G., said. “Since then, we have been proud to play a role in the outstanding growth that the company has achieved. Riveron is an exceptional company with world-class leadership and exciting growth prospects, and we look forward to continuing to support the business in its next chapter.”
“We have enjoyed our partnership with the Riveron team and truly appreciate their commitment to building a great business,” Jon Contos, managing director at H.I.G., said. “We believe Riveron is very well positioned in a space with significant growth opportunities, and we look forward to participating in the company’s continued success.”
Jefferies Group and Moelis & Company acted as financial advisors to Riveron and McDermott Will & Emery acted as legal counsel to H.I.G. and Riveron in connection with the transaction. Guggenheim Securities and Citizens served as financial advisors to Kohlberg. Ropes & Gray and Greenberg Traurig acted as legal counsels to Kohlberg.
