H.I.G. Capital has agreed to make an investment in Riveron, a business adviser. No financial terms were disclosed. The deal is expected to close by the end of May.
DALLAS–(BUSINESS WIRE)–Riveron, a national business advisory firm, announced that an affiliate of H.I.G. Capital (“H.I.G.”), a global investment firm focused on partnering with middle market companies, has entered into a definitive agreement to make a growth investment in Riveron.
Riveron offers a comprehensive suite of consulting solutions to its clients, including accounting advisory (such as technical accounting, implementation of new accounting standards, business combinations and accounting for income taxes), accounting and finance operations (such as audit readiness, operational accounting and finance transformation), capital markets and divestitures (such as IPO readiness, carve-outs and back office stand-up), performance improvement (such as process improvement, technology enablement and earnings enhancement), transaction services (such as buy-side, sell-side, tax and operational diligence, lender services and integration), and recovery and transformation services (such as restructuring advisory).
Riveron was founded in Dallas in 2006 by CEO Landon Smith, who has overseen its strategic expansion into seven additional markets: New York City, Washington DC, Atlanta, Houston, Denver, Chicago and Minneapolis. Today the firm, with expert consultants that bring a unique blend of public accounting, consulting and industry experience, serves a diverse group of nearly 500 clients annually across the corporate, private equity and lender communities.
Smith said, “I am proud of the tremendous growth that Riveron has achieved over the last thirteen years. Our success is due to our talented people and steadfast commitment to being a hands-on and trusted partner to our clients, providing the resources, expertise and guidance necessary to help them navigate transformational change.” Smith continued, “We are excited to enter our next phase of growth and welcome H.I.G. as our new growth partner. H.I.G. brings significant resources and connections that will help us grow and deliver an even stronger offering while retaining our commitment to clients above all else.”
H.I.G.’s investment will support Riveron’s plans to strengthen its existing capabilities and to continue growth in new geographies, such as the recently opened New York office, and new service lines, including the recently launched restructuring and tax advisory practices.
Keval Patel, Managing Director at H.I.G., said, “Riveron has become a market-leading advisory firm that is known for its deep accounting and finance expertise and strong track record of helping clients maximize the value of strategic change. We have been extremely impressed with Riveron’s management team and the quality of their people, a testament to the strong and unique culture that underpins how Riveron approaches clients. We look forward to partnering with Landon and the entire management team to support Riveron’s continued growth.”
Terms of the transaction, which is expected to close by the end of May, were not disclosed.
Riveron is a leading business advisory firm specializing in accounting advisory, accounting and finance operations, capital markets and divestitures, performance improvement, transaction services, and recovery and transformation services. Drawing on consulting, public accounting and industry backgrounds, Riveron partners with companies, private equity firms and lenders to prepare for change and deliver an unprecedented level of understanding and results. Founded in 2006, Riveron is headquartered in Dallas, Texas and operates in eight major markets across the country including Atlanta, Chicago, Denver, Houston, Minneapolis, New York and Washington D.C. For more information, please refer to the Riveron website at www.riveron.com.
About H.I.G. Capital
H.I.G. is a leading global private equity and alternative assets investment firm with over $30 billion of equity 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:
1. 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.
2. 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. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
3. H.I.G.’s real estate funds invest in value-added properties which can benefit from improved asset management practices.
Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.