EQT Private Equity announced on Tuesday that their EQT Corp. fund is set to acquire Avetta, a company specializing in supply chain risk management software, from private equity firm Welsh, Carson, Anderson & Stowe (WCAS). The specific financial details of the deal, which is anticipated to close in the coming months, have yet to be disclosed.
Avetta's SaaS platform has been vital in aiding clients manage their supply chain risks for over two decades, focusing on areas such as health, safety, and sustainability. Operating out of 12 offices worldwide and with a staff strength of over 750, Avetta has established a global network that covers more than 130 countries.
Following this acquisition, it is expected that EQT X will have invested between 35 and 40 percent based on its actual fund size. The exclusive financial advisor for EQT during this process has been Citi, while Ropes & Gray have acted as their legal counsel. Equally, Goldman Sachs & Co. LLC were the exclusive financial advisors for Avetta, with Kirkland & Ellis providing legal counsel.
