Riveron, a national business advisory firm focused on the office of the CFO, private equity and other capital providers, entered into a definitive agreement to be acquired by affiliates of Kohlberg & Company. H.I.G. Capital will continue its partnership with Riveron through a minority investment. A significant percentage of Riveron’s employee base will also be equity owners in the company.
“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,” Julie Howard, CEO of Riveron, said. “Through our new partnership with Kohlberg and continued partnership with H.I.G., we will be better positioned than ever before to pursue our ambitious growth agenda and enhance our strategic value for our employees, clients and shareholders.”
“We are honored to partner with the Riveron management team and H.I.G. in supporting the next phase of the Company’s growth,” Ahmed Wahla, partner and head of business services at Kohlberg, said. “Over the last two years, we have conducted extensive diligence on the CFO services sector, which fits squarely within the long-term secular themes we have successfully invested behind in our broader business services core practice area. We look forward to contributing our team’s insights and our capital base to help extend Riveron’s innovative suite of capabilities while maintaining its focus on providing world-class business advisory services to its clients and firmly establishing the company as the employer of choice in the industry.”
“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 remarkable growth trajectory that the Company has achieved. Riveron is an exceptional company with outstanding leadership and growth prospects, and we look forward to continuing to support the business in its next chapter.”
The transaction, which is subject to regulatory approvals and customary closing conditions, is expected to close in July. 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.
