Rimilia

Sale to Kennet Partners and Eight Roads Ventures

Another successful transaction for EvolutionCBS EvolutionCBS is pleased to announce that its client, Rimilia, has received a $25million investment from Kennet Partners and Eight Roads Ventures.

Rimilia is an innovative developer of a market leading cash allocation software suite. The company engaged EvolutionCBS to find an investor that would support the continued growth of the business.

Both investors have considerable experience in the Software and Fintech sector and shared Rimilia’s vision for the future of the company.

Rimilia will use this first round of external capital to invest the company’s market leading software and into its sales, marketing, and customer support functions as it expands into Europe and the US.

Rimilia’s CEO, Chris McGibbon, said: “Over the past few years we’ve built a unique product that takes the burden off over-stretched finance teams. This investment comes at a pivotal time for Rimilia and will allow us to capitalise on global opportunities. We look forward to working with Kennet Partners and Eight Roads Ventures as we navigate our next phase of growth.”

The deal value, which represents a multiple of 22x adjusted EBITDA, is the latest in a series of high-profile deals for EvolutionCBS and confirms its position as the adviser of choice for businesses seeking exceptional results.

Steve Barry, Client Director for EvolutionCBS who led the deal, commented: “Rimilia is a first-class business, innovative and constantly investing in its development. The investment from Kennet Partners and Eight Roads Ventures will enable it to realise its considerable potential.”

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    "Thank you for your tremendous efforts and continuous support throughout the process. It has been a pleasure dealing with you and I wouldn't hesitate to recommend your services to others"

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    “Thanks for all of your collective efforts in getting us over the line.”

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    “Once again thank you to your team for all their hard work over the last 15 months.”

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    “A big thank you - quite a process to go through, but we got there.” Richard Hope-Hawkins

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    “It’s been very good to work with you”

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    “All went smoothly. As you put it, a new chapter has started.” Vijay Shah, CEO

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    We were very pleased with Evolution and the service they provided

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    Thanks to you and your team for finding our buyer - we benefitted from your skills

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    “It was very important to us to have a buyer that would develop the company’s significant potential.”

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    This is worth a great deal to us and we know that it could not have been achieved without you

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    “Thanks to the Evolution CBS team for achieving a successful sale. For me the structure of the deal was extremely important and your persistence was appreciated. I am delighted with the result.”

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    “Having Evolution handle the marketing process has enabled me to continue running and growing the business over the past 10 months which has proven to be critical in terms of exit value.”

© 2018 Evolution Complete Business Sales Ltd.

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