H.I.G. Capital Completes Sale of Riveron
MIAMI – July 13, 2023 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $57 billion of capital under management, is pleased to announce the sale of its portfolio company Riveron (“Riveron” or the “Company”) to affiliates of Kohlberg & Company (“Kohlberg”). H.I.G. will continue its partnership with Riveron through a minority investment. Additional terms of the transaction were not disclosed.
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. With over 700 employees across 12 offices in the U.S., Riveron experts draw on their consulting, public accounting, and industry backgrounds to implement impactful and practical solutions to its clients, including CFOs, private equity firms, and other stakeholders.
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 and become a leading independent financial consultancy.
“H.I.G. has been a tremendous partner to Riveron and instrumental in helping us execute on our strategic vision,” said Julie Howard, Riveron’s Chief Executive Officer. “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.”
Keval Patel, Managing Director at H.I.G., said, “When we invested in Riveron four years ago, we were excited to partner with a fast-growing, entrepreneurial organization with a differentiated culture. 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.”
Jon Contos, Managing Director at H.I.G., further commented, “We have enjoyed our partnership with the Riveron team and truly appreciate their commitment to building a great business. 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 LLC 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, LLC and Citizens served as financial advisors to Kohlberg. Ropes & Gray LLP and Greenberg Traurig, LLP acted as legal counsels to Kohlberg.
Riveron is a national business advisory firm that partners with its clients to elevate performance and expand possibilities across the transaction and business lifecycle. Riveron’s thoughtfully integrated teams bring industry perspective and deep functional expertise across accounting, ESG, finance, M&A, operations, restructuring & turnaround, strategic communications, tax, and technology, to generate tailored solutions that address any challenge. Founded in 2006, Riveron has 12 offices across the country and serves a diverse set of clients around the world, including the office of the CFO, private equity, lenders, and other key stakeholders. For more information, please visit www.riveron.com.
About H.I.G. Capital
H.I.G. Capital is a leading global alternative investment firm with $57 billion of capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $52 billion. For more information, please refer to the H.I.G. website at www.hig.com.