Avetta and BROWZ Combine to Form One of the World’s Leading Providers of Supply Chain Risk Management

Transaction expands global network to 85,000 customers in over 100
countries with a configurable SaaS platform and industry leading
customer service

OREM, Utah–(BUSINESS WIRE)–lt;a href=”https://twitter.com/hashtag/riskmanagement?src=hash” target=”_blank”gt;#riskmanagementlt;/agt;–Avetta and BROWZ, two leading providers of SaaS based supply chain risk
management software, today announced they have combined to form a new,
market leading organization focused on delivering the best in supply
chain risk management services to companies worldwide. The transaction
further solidifies Avetta’s position as a world-class organization,
innovator and thought leader, expanding the company’s global network to
85,000 customers in over 100 countries in the fast growing $14 billion
global marketplace for supply chain risk management solutions.

Avetta and BROWZ combine more than three decades of experience in making
industries safer, more sustainable and compliant by vetting and
qualifying the suppliers that support their global clients. Avetta and
BROWZ’s 450 combined clients include blue chip companies in industry
verticals such as energy, chemicals, manufacturing, utilities,
construction materials, facilities management, communications,
transportation, logistics & retail, mining, aerospace & defense and food
& beverage. These industry leaders require better visibility into supply
chain risks, such as workplace health & safety, sustainability, modern
slavery, data privacy, anti-bribery & corruption, regulatory and
insurance compliance.

Together, the companies’ market-leading technology platform and products
strengthen sustainable connections between clients and suppliers, while
streamlining and simplifying the engagement process for both parties.
Avetta and BROWZ share a common vision of putting customers first and a
belief that the solutions offered to their clients should be
configurable to address the specific needs and requirements of their
client base across industries and geographies.

John Herr, CEO of Avetta, will lead the combined company, which will
retain the Avetta name. Mr. Herr stated, “Together, Avetta and BROWZ
create a simplified supplier management solution designed to elevate
safety and sustainability in workplaces around the world. The
streamlining of solutions in this market sector is one of the most
common requests we hear from the customers we serve. Our customers will
be delighted to learn about the benefits this combined global network
will create for them. Our combined expertise of 30+ years in the
industry will help both clients and suppliers achieve the highest
standards of quality and safety.”

Of utmost importance, Herr added, is the role Avetta’s solutions play in
reducing the risk of workplace accidents. “Companies within our network
significantly outperform industry averages in safety and sustainability
statistics. We are proud of the social and economic impact we have
created through the promotion of safe and sustainable workplaces and
mitigation of environmental risks. We help our clients make informed
sourcing decisions to create safer work environments. That, in turn,
helps people get home safely to their families at night.”

According to Tom Cecich, past president of the American Society of
Safety Professionals, “The use of technology-based prequalification
tools such as those provided through Avetta and BROWZ is a proven way to
mitigate risk, save money and drive safety and sustainability outcomes
that are nearly impossible to achieve with an in-house, manual process.
The combination of these two great companies makes the decision to use a
third-party safety platform simpler and easier.”

Peter Sturm, past president of the Canadian Society of Safety
Engineering and leading industry expert in health, safety and risk
consulting, added, “Avetta’s supplier qualification platform has long
been an industry leader in helping great organizations manage the risk
in their supply chains. They have made a positive difference in
achieving safer workplaces in Canada. The addition of BROWZ will make
them even stronger.”

Elaine Beitler, CEO of BROWZ, said, “BROWZ joining Avetta will
strengthen and enhance capabilities for BROWZ’s customers and employees.
Our industry was created to provide a simpler process for managing
supply chain risk. This combination furthers our ability to provide an
easier way for suppliers to share their compliance information, and a
simpler, larger network for our customers. We will bring our technical
expertise and customer service excellence to lead the industry at
Avetta. This is a great combination, and we’re very excited about the
future.”

According to Val Hale, executive director of the Governor’s Office of
Economic Development for the State of Utah, “It is exciting to have two
of the world’s most innovative supply chain risk management software
companies unite in Utah’s Silicon Slopes. Utah’s business friendly
climate has allowed Avetta to flourish, and in return its success has
elevated the state’s technology industry. Headquartered here in Utah,
this innovative company continues to save lives and prevent workplace
accidents.”

The combination was financed through investments by Avetta’s three major
shareholders: Welsh, Carson, Anderson & Stowe (WCAS), who remains the
majority owner; Technology Crossover Ventures (TCV); and, Norwest
Venture Partners (NVP). BROWZ’s existing shareholders, Melkonian Capital
and Long Ridge Equity Partners, are rolling over a portion of their
investment into the combined company.

Christopher Hooper, General Partner at WCAS, said, “We believe this
strategic combination of Avetta and BROWZ allows both organizations to
better serve their global blue-chip clients and the expansive network of
over 85,000 suppliers and contractors. We and our fellow institutional
investors are all highly supportive of the Company’s ambitions to bring
technology and software to bear to improve safety, sustainability and
compliance outcomes across industries and geographies.”

Financial terms were not disclosed.

Advisors

Evercore acted as financial advisor and Kirkland & Ellis LLP served as
legal advisor to Avetta. FT Partners served as the exclusive financial
and strategic advisor to BROWZ. Katten Muchin Rosenman LLP served as
legal advisor to BROWZ.

About Avetta

Avetta 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. Using configurable, cloud-based
technology and expert insights, Avetta simplifies supply chain
compliance by cost effectively improving processes and mitigating risk
for our customers. Avetta is trusted by many of the largest blue-chip
companies across the globe, such as Verizon, CEMEX, BP, BASF and
Huntsman. With coverage in North America, Europe, Latin America and Asia
Pacific, as well as the industry’s highest customer satisfaction, Avetta
is a leader in the $14 billion global supply chain risk management
solutions marketplace. Visit www.avetta.com
for more information.

About BROWZ

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 client’s business. BROWZ provides comprehensive assessments using
patented, configurable technology and expertise, resulting in the site
operator’s confidence of a safer work environment for clients and supply
chains around the world. The BROWZ solution addresses global supply
chain needs related to qualifying contractors and suppliers for leading
clients in industries such as mining, transportation, construction,
chemicals, aerospace, pharmaceuticals and many others.

About Welsh, Carson, Anderson & Stowe

WCAS is a leading U.S. private equity firm focused on two target
industries: technology and healthcare. Since its founding in 1979, the
Firm’s strategy has been to partner with outstanding management teams
and build value for its investors through a combination of operational
improvements, internal growth initiatives and strategic acquisitions.
WCAS has raised and managed funds totaling over $26 billion of committed
capital. For more information, please visit www.wcas.com.

About TCV

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 115 IPOs and strategic acquisitions. TCV’s
investments include Airbnb, Altiris, AxiomSL, Dollar Shave Club,
EmbanetCompass, EtQ, ExactTarget, Expedia, Facebook, Fandango, GoDaddy,
HomeAway, LinkedIn, Netflix, OSIsoft, Rent the Runway, Sitecore, Splunk,
Spotify, Varsity Tutors, and Zillow. TCV is headquartered in Menlo Park,
California, with offices in New York and London. For more information
about TCV, including a complete list of TCV investments, visit www.tcv.com.

About Norwest Venture Partners

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. Norwest offers a deep network of
connections, operating experience, and a wide range of impactful
services to help CEOs and founders scale their businesses. Norwest has
offices in Palo Alto and San Francisco, with subsidiaries in India and
Israel. For more information, please visit www.nvp.com.

About Melkonian Capital

Founded in 2001, MCM focuses on investment opportunities in private
equity, real estate, and public markets. Through employing a bottom-up,
research-driven investment approach, MCM targets well vetted investment
ideas to assemble a concentrated portfolio of high-conviction holdings.
For more information, please visit www.melkoniancapital.com.

About Long Ridge Equity Partners

Founded in 2007, Long Ridge is a private investment firm focused on the
financial services and business services sectors. Leveraging deep sector
knowledge and an extensive network of industry resources, Long Ridge
serves as a value‐added partner to high‐growth businesses. Long Ridge’s
principals have sponsored some of the most successful growth companies
in the financial and business services sectors, providing strategic
resources and capital to drive profitable expansion. Long Ridge manages
over $400 million of committed capital. For more information, please
visit www.long-ridge.com.

Contacts

SnappConner PR
Mark Fredrickson, 801-806-0161
[email protected]

Avetta
Scott Nelson, 801-850-3363
[email protected]

Welsh, Carson, Anderson & Stowe
Jon Rather, 212-893-9570
[email protected]

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