Media Release Avetta Acquisition of Pegasus Completed After Receiving Regulatory Approval
Addition of Pegasus creates largest global provider of supply chain risk and worker management solutions
Orem, UTAH — July 19, 2021 — Avetta®, the leading provider of supply chain risk management software, announced today the acquisition of Australia-based Pegasus has passed regulatory approval and is now completed. Based in Newcastle, NSW, Australia, Pegasus is a leader in worker competency management software and services.
The combination accelerates Avetta’s global growth strategy and creates the largest provider of supply chain risk management and compliance solutions with 150,000+ suppliers and over 4 million managed workers.
“We welcome the Pegasus employees and customers to the Avetta team,” said Arshad Matin, Avetta CEO and President. “We look forward to combining our efforts in both supply chain risk and worker management to significantly grow our business throughout the world and delight our customers with solutions that best manage workers, improve safety and increase sustainability.”
As previously announced, the Pegasus offices will become the base of operations for Avetta in Australia and New Zealand. Pegasus CEO, Adam Boyle, will lead the Avetta team toward further expansion in the Australia-New Zealand (ANZ) market. Boyle and current Pegasus investor, Accel-KKR, are now equity investors in Avetta.
“NSW has a long history of technology success and leading the charge in the digitisation of businesses across Australia,” said the Hon. Stuart Ayres MP, NSW Minister for Jobs, Investment, Tourism and Western Sydney. “The history and success of Pegasus is a testament to the strength of innovation, not just in major cities but also in regional areas like Newcastle. It’s proof that the right idea can come from anywhere.
“We have an incredible depth of talent in NSW, however we need to continue to foster, cultivate and grow this pipeline to ensure our industry thrives. Businesses such as Pegasus are at the forefront of nurturing this talent, and the acquisition by Avetta represents an excellent opportunity to build on its success.”
With Pegasus technology, Avetta offers market leading worker competency management, induction and learning management, supplier prequalification, site access and asset management to its solutions.
“The greatest benefit of Pegasus has been the personalised service, efficient team and holistic approach to our workforce management,” said Talan Breaden, Manager – People & Safety at Aeris Resources. “Pegasus gives us the visibility and control to effectively manage our contractor compliance, workforce training and site access.”
Chris Taylor, Head of Safety and Wellbeing at Hilton Foods added, “We have found that by using the Pegasus System the ability for our business to monitor competence of both individuals and businesses has improved dramatically and at the same time gives us assurance that we only hire those that meet our safety standards.”
Avetta’s technology platform, Avetta Connect™, helps companies worldwide manage risk and build resilience in their supply chains – from increasing visibility within the network to ensuring safety and sustainability. The Avetta Marketplace provides suppliers and contractors deep discounts on insurance and safety-related products and services. The company is majority-owned by Welsh, Carson, Anderson & Stowe with key investments from Technology Crossover Ventures, and Norwest Venture Partners.
Avetta offers a configurable SaaS-based solution that assists organizations – both large and small – in managing supply chain risk across a variety of disciplines. Avetta is building the world’s most intelligent supply chain risk management network to advance clients’ resilience, sustainability, worker competency and safety programs. Avetta leads the world in connecting leading global organizations across industries, including telecom, construction materials, manufacturing, mining, facilities management, high tech and energy with a qualified and vetted workforce among suppliers and contractors.
We contribute to the advancement of our clients’ sustainable growth by keeping workers safe and protecting supply chains from a wide range of potential risks through trusted contractor prequalification, worker safety training and monitoring, regulatory compliance, insurance/financial stability and other areas of risk. Avetta serves more than 500 enterprise companies and 150,000 suppliers across 120+ countries. Visit https://www.avetta.com/ for more information.
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, growth initiatives and strategic acquisitions. WCAS has raised and managed funds totaling over $27 billion of committed capital. For more information, please visit www.wcas.com.
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions.
Mark Fredrickson, +1 801-806-0161
Scott Nelson, +1 801-850-3363