A pair of Utah software-as-a-service companies engaged in the supply-chain risk management industry have merged. Browz LLC of Orem and Avetta LLC, based in Draper, will combine under the Avetta name, the companies said in a statement last week. John Herr, CEO of Avetta, will lead the combined company.{mprestriction ids="1,3"}
“Together, Avetta and Browz create a simplified supplier management solution designed to elevate safety and sustainability in workplaces around the world,” said Herr. “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-plus years in the industry will help both clients and suppliers achieve the highest standards of quality and safety.”
Browz was founded in 2001 and Avetta in 2003. The companies bring approximately the same number of employees to a combined workforce of 450.
Together the firms will have about 85,000 customers in over 100 countries in industries such as energy, chemicals, manufacturing, utilities, construction materials, facilities management, communications, transportation, logistics, retail, mining, aerospace and defense and food and beverage, Herr said. The companies work to mitigate supply-chain risks in areas such as workplace health and safety, sustainability, modern slavery, data privacy, anti-bribery and corruption, regulatory and insurance compliance.
“Final employee responsibilities from both companies are still being determined,” said Herr of the combined workforce. “Bringing two strong companies together inevitably results in some overlap in roles and responsibilities. For anyone affected by the transition, we are working with advisors and resource providers to ensure a smooth transition for anyone departing.”
“Browz joining Avetta will strengthen and enhance capabilities for Browz’s customers and employees,” said Elaine Beitler, CEO of Browz. “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.”
The merger was financed through investments by Avetta’s three major shareholders: Welsh, Carson, Anderson & Stowe, which remains the majority owner; Technology Crossover Ventures; and Norwest Venture Partners. Browz’s existing shareholders, Melkonian Capital and Long Ridge Equity Partners, are rolling over a portion of their investment into the combined company.{/mprestriction}
