Rimilia

Sale to Kennet Partners and Eight Roads Ventures

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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"From EvolutionCBS we got a massive amount of support – without them I don’t know how we would have got through".
"Evolution really stood out above any other organisation we'd spoken to. Their professional approach and process from engagement to completion of the journey were outstanding. For anyone reading this now, this is not an easy journey! However Evolution make it feel achievable every step of the way. "
“Everyone at EvolutionCBS was very genuine. Steve and the team never abused my trust, which gave me a lot of confidence. At the end of the day, they got me every penny that the acquirer had mentioned on day one. As far as I’m concerned, I would use them again if I ever had to sell a business without a shadow of a doubt.
An adviser that really understood our business and demonstrated the values we represent
The team have been extremely responsive, and we have completed the sale in a very short time
The EvolutionCBS team did a fantastic job of getting three very, very good offers on the table
"We couldn’t have had a better partner through this entire process"
“A big thank you to you all for getting us through this."
"Thanks to everyone who made such an effort to bring our project to a successful conclusion."
"We are truly thankful to EvolutionCBS and can’t recommend them highly enough!"

© 2024 Evolution Complete Business Sales Ltd.

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