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FT Partners Advises BROWZ on its Merger with Avetta

Overview of Transaction

  • On February 14, 2019, BROWZ and Avetta agreed to merge forming a new, market leading organization focused on delivering supply chain risk management services to companies worldwide
  • The combination is being financed through investments by Avetta’s three major shareholders: Welsh, Carson, Anderson & Stowe, Technology Crossover Ventures, and Norwest Venture Partners
  • BROWZ’s existing shareholders, Melkonian Capital and Long Ridge Equity Partners, are rolling a portion of their investment into the combined company
  • John Herr, CEO of Avetta, will lead the combined company, which will retain the Avetta name
  • Headquartered in Draper, Utah, BROWZ ensures that supply chains are safe, qualified, and socially responsible by delivering a comprehensive solution to prequalify, assess, and monitor supply chain compliance based on the unique needs of each of its clients
  • Avetta, based in Irvine, CA, helps the world’s leading organizations effectively manage supply chain compliance through prequalification, document management, auditing, employee-level qualification & training, insurance verification and business intelligence

Significance of Transaction

  • Together, the companies’ market-leading technology platform and products will strengthen sustainable connections between their clients and suppliers, while streamlining and simplifying the engagement process for both parties
  • Both companies have a combined expertise of 30+ years in the industry, which will help the new organization’s clients and suppliers achieve the highest standards of quality and safety

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to BROWZ in this transaction
  • FT Partners previously advised BROWZ on its $10 million equity financing in 2015
  • The deal provides a great outcome for BROWZ and highlights the repeat, long-term nature of many of FT Partners' advisory engagements
  • This transaction also exemplifies FT Partners’ expertise in sell side advisory across a broad range of SaaS-based companies