Cinven-backed Jaggaer taps Hovancik as CEO

• Previously, Hovancik was CEO of Sovos Compliance
• Based in London, Cinven was founded in 1977

Jaggaer, which is backed by Cinven, has named Andy Hovancik as CEO and member of the board of directors.

Previously, Hovancik was CEO of Sovos Compliance.

Headquartered in Morrisville, North Carolina, Jaggaer is an autonomous commerce firm.

“We see limitless potential for Jaggaer’s future. Jaggaer is already a global leader in solving complex supply chain and source-to-pay issues with over 1,750 customers worldwide, including some of the largest global firms,” said John Burton, chairman of the board of Jaggaer in a statement. “We firmly believe it’s the right time to assert our vision and further deliver our transformative capabilities to our market. We’re confident that Andy will help us bring our autonomous commerce vision to life, further enhance our best-in-class offering for our customers and provide a fulfilling environment for our team.”

Based in London, Cinven targets the business services, consumer, financial services, healthcare, industrial technology, media, and telecommunications sectors. The private equity firm was founded in 1977.