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William Blair Advises Avetta

Wednesday, March 21, 2018

Avetta-tomb


William Blair is acting as exclusive financial advisor to Avetta, a portfolio company of Norwest Venture Partners, in connection with its pending sale to Welsh, Carson, Anderson & Stowe (WCAS). Technology Crossover Ventures (TCV) will acquire a minority equity interest in Avetta. The transaction is subject to regulatory approval with an anticipated close date in April 2018.

Transaction Highlights

  • Deep relationships and industry expertise: Avetta and Norwest were attracted to William Blair’s extensive knowledge and industry experience within the governance, risk, and compliance software sector, expertise positioning vertical SaaS business models, and strong relationships with the most aggressive and likely strategic and financial acquirers.
  • Process and execution excellence: William Blair constructed and managed a competitive process with a group of potential strategic and financial acquirers. Successfully positioning Avetta as the clear leader in supply chain risk management software, William Blair produced a strong competitive dynamic and ultimately facilitated an exceptional outcome for Avetta’s shareholders.
  • Instrumental guidance and counsel:  William Blair’s transaction team was integrally involved throughout each step of the transaction process, including close collaboration with Avetta in developing marketing materials and key analyses, coordinating due diligence with multiple parties, and negotiating exceptional contract terms.

About the Companies

Avetta provides a cloud-based supply chain risk management platform. Avetta’s global solution connects the world’s leading organizations with qualified suppliers, driving safe and sustainable supply chains. Its next-generation software is used by more than 54,000 active customers in over 160 countries to reduce risk and optimize efficiency. Over 300 of the world’s biggest organizations depend on Avetta every day.

Norwest is a premier multi-stage investment firm managing more than $7.5 billion in capital. Since its inception, Norwest has invested in more than 600 companies and partnered with over 140 active companies across its venture and growth equity portfolio. The firm invests in early- to late-stage companies across a wide range of sectors with a focus on consumer, enterprise, and healthcare.

WCAS focuses its investment activity in two target industries: technology and healthcare. Since its founding in 1979, WCAS has organized 16 limited partnerships with total capital of over $22 billion. The firm is currently investing an equity fund, Welsh, Carson, Anderson and Stowe XII, L.P., which closed on over $3.3 billion in commitments.

Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry. Since inception, TCV has invested over $10 billion in leading technology companies and has helped guide CEOs through more than 110 IPOs and strategic acquisitions.

Learn more about our technology investment banking expertise