The supply chain risk management software provider Avetta today said it has been acquired from its private equity owner by another private equity firm for some $3 billion, gaining new support for growth at a time when global supply chains face increasing complexity from globalization and digitization, as well as heightened safety, compliance, and sustainability requirements.
EQT Private Equity announced that its EQT X fund agreed to acquire Avetta from Welsh, Carson, Anderson & Stowe (WCAS). EQT plans to support Avetta's ongoing growth journey through the development of new products and technologies, adoption of AI / automation, and global expansion.
Utah-based Avetta says its platform enables clients to manage supply chain risks across risk vectors such as health, safety, and sustainability. That helps them to reduce accidents, improve compliance rates, and achieve higher levels of operational, sustainability, and ethical excellence, the company says.
Avetta has also grown through acquisition, including its purchase in 2021 of Newcastle, New South Wales, Australia-based Pegasus, a firm which provides worker competency management software and services.
