Kennet and Eight Roads sell Rivo to Genstar's Sphera

The sale marks an exit for Eight Roads' 2010-vintage vehicle, following a four-year holding period.

Rivo opened its London office nine months after its acquisition by Kennet and Eight Roads and expanded into the Middle East in January 2015 via a partnership with the American Qatari International Trade Company.

In a statement Sphera said the acquisition will expand its international reach, as well as bolstering its cloud-based offering and its range of health and safety products.

Financial details of the transaction remain undisclosed.

Previous funding
Kennet Partners and Eight Roads (at the time known as Fidelity Growth Partners Europe) acquired Rivo in June 2013. The firms reportedly paid £20m for the company, equivalent to around 10x its EBITDA at the time.

Company
Founded in 2002 and headquartered in Warwick, Rivo provides cloud-based management software for environment, health and safety, quality and loss prevention. The company's products are designed to help companies manage incidents, audits and inspections, corrective actions, as well as other corporate risk and compliance reporting.

Revo has additional offices in London, Philadelphia and Houston.

People
Kennet Partners – Hillel Zidel (managing director).
Rivo Software – Karl Campbell (CEO).
Sphera Solutions – Paul Marushka (president, CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Exits
• UK / Ireland
• Technology
• United Kingdom
• Trade sale