Swedish private equity firm to acquire Lehi software company Avetta
Lehi-based supply chain risk management software company Avetta will be acquired by Swedish investment firm EQT Private Equity. EQT and current owner Welsh, Carson, Anderson & Stowe of New York City will complete the sale in the coming months.
The 20-year-old Avetta’s SaaS platform enables clients to manage supply chain risks across health, safety and sustainability, among other risks. With 12 offices around the globe and more than 750 employees, Avetta’s global network spans over 130 countries, serving more than 130,000 contractors.
EQT said that by leveraging its global footprint, purpose-driven approach and digital and sustainability expertise, it will support Avetta’s ongoing growth through the development of new products and technologies, adoption of AI and automation and global expansion.
“Avetta’s leadership position, world-class SaaS platform and commitment to ESG represent a highly thematic investment opportunity for EQT,” said Arvindh Kumar, partner and co-head of technology within EQT’s Private Equity Advisory Team. “As one of the most active technology investors worldwide, EQT has deep software expertise and a broad network of advisors in the space. We look forward to partnering with Avetta and the management team on its next phase of growth and are excited to address some of the most pressing challenges in the supply chain sector.”
“Our partnership with EQT propels Avetta into a new era of innovation and growth, reinforcing our dedication to fostering safer, more sustainable workplaces across our global clients and suppliers,” said Arshad Matin, CEO of Avetta. “This transition is not just a significant milestone for Avetta but for the supply chain risk management industry at large. With the support of EQT, we are poised to enhance our product suite and operational reach further, as demonstrated by ‘Ask Ava,’ our pioneering generative AI risk assistant. As we embrace this exciting phase of expansion, we extend our deepest gratitude to WCAS for their unwavering support and partnership over the past six years.”
The transaction is subject to customary conditions and approvals and slated for closing later this year. Financial terms of the transaction were not disclosed.