Sphera Solutions Acquires Rivo Software, Expands Breadth of Health & Safety Software Offerings, Cloud-Based Applications
CHICAGO, April 6, 2017 /PRNewswire/ -- Sphera Solutions, the largest global provider of Operational Excellence software and information services with a focus on Operational Risk, Environmental Health & Safety (EH&S), and Product Stewardship, has announced the acquisition of Rivo Software, a leading global provider of cloud-based environmental, health, safety, and risk management software.
The acquisition serves to expand Sphera's portfolio of cloud-based applications, enhance its breadth of health and safety software solutions and services, and further increase its global presence. Importantly, Sphera is expanding its deep talent base of software developers and industry experts with Rivo's experienced software development and product teams.
With an innovative suite of mobile solutions—operated through apps for iOS, Android and Windows mobile platforms—Rivo helps some of the world's best known brands manage incidents, audits and inspections, corrective actions, and other corporate risk and compliance reporting. A recognized leader in the health and safety market, with a predominant presence across Europe, the Middle East, and Asia-Pacific, Rivo's software is designed to provide visibility and control over enterprise-wide risk, ensuring businesses can be resilient in today's global operating environment.
"We believe it is critical to continue innovating and expanding our world-class products and services," said Sphera President and CEO Paul Marushka. "With Rivo's technology, Sphera now has the unique ability to offer customers the optimal flexibility—with both on-premise and cloud-based software options for managing risk and compliance."
For Rivo customers, the acquisition provides unparalleled access to a new and robust suite of complementary products as well as access to the largest library of regulatory information and content. Customers also benefit from the industry's largest, most experienced team of technical and product experts, and customer care specialists.
"This represents a significant win for the Rivo customer base," said Kennet Partners' Managing Director and former Rivo Board Member Hillel Zidel. "Sphera has led the Environmental, Health and Safety software and services market for more than a quarter century, and will instantly deliver value and depth with its people, processes and products."
Rivo's software expands Sphera's cloud-based applications by delivering valuable new product features, functionality and technology to both Sphera and Rivo customers.
"This transaction represents Genstar's continued commitment to invest in Sphera through organic and inorganic means," said Geoff Miller, Principal at Genstar Capital. "The Rivo acquisition builds upon Sphera's leading presence in the marketplace and enterprise-wide integrated risk management platform."
Sphera is a portfolio company of Genstar Capital, a leading middle-market private equity firm, which acquired the OERM business (now Sphera) from IHS Markit in June 2016. Prior to the acquisition, Rivo was backed by leading technology investors Kennet Partners and Eight Roads Ventures. Marks Baughan Securities acted as exclusive financial adviser to Rivo Software Limited. Financial terms of this transaction were not disclosed.
For more information please visit www.spherasolutions.com/rivo
About Sphera Solutions
For more than 30 years Sphera has been committed to creating a safer, more sustainable and productive world by advancing operational excellence. Sphera is the largest global provider of Operational Excellence software and information services with a focus on Environmental Health & Safety (EH&S), Operational Risk and Product Stewardship. The Chicago-based company serves more than 2,500 customers and over 1 million individual users across 70 countries. Sphera is a portfolio company of Genstar Capital, a leading middle-market private equity firm focused on the software, industrial technology, financial services and healthcare industries. Learn more at www.spherasolutions.com. Follow Sphera on LinkedIn and Twitter @SpheraSolutions.
About Genstar Capital
Genstar Capital is a leading private equity firm that has been actively investing in high quality companies for more than 25 years. Based in San Francisco, Genstar works in partnership with its management teams and its network of strategic advisors to transform its portfolio companies into industry-leading businesses. Genstar manages funds with total capital commitments of approximately $9 billion and targets investments focused on targeted segments of the healthcare, financial services, software, and industrial technology industries. More information at http://www.gencap.com/.
About Kennet Partners
Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Kennet is an experienced investor with approximately $700 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the United Kingdom by the Financial Conduct Authority.
About Eight Roads Ventures
Eight Roads Ventures is a global venture capital firm that backs entrepreneurs with aspirations for greatness. Together with its associated funds it manages $4 billion of capital across offices in the United Kingdom, India, China, Japan and the United States. A near 50-year history of investing includes partnerships with companies such as Alibaba, CloudByte, Cúram, Future Advisor, GoodData, InnoGames, iPipeline, MADE.com, Manthan Systems, Metaps, Nuance, Ping Identity, Prosper, Treatwell, Recurly, Wallapop and Xoom. More information at https://eightroads.com/en/ventures. Follow @8roadsventures.
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Diana Dixon 419.297.0222 diana.dixon@kemperlesnik.com
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