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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    "Thanks to everyone who made such an effort to bring our project to a successful conclusion."

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    "We are truly thankful to EvolutionCBS and can’t recommend them highly enough!"

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    “Mike and the team did a great job. I would recommend your company for its professionalism and friendly help.”

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    “Thanks to the whole team at EvolutionCBS and of course especially Steve who was excellent at pressing the right buttons at the right time.”

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    "It has been a long journey but I am very pleased that I decided to work with Evolution to achieve a very successful exit. The team at EvolutionCBS plus the excellent support from key persons from Advanced have worked together and this true synergy has been outstanding and most rewarding emotionally as well as financially."

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    "I’m truly delighted, the team has done a great job and have been a pleasure to work with throughout, sincerest thanks to them all. Thank you again for all your hard work in making the deal happen, I couldn’t be happier with Clanwilliam."

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    "Many thanks to everyone at Evolution who helped to make this deal happen. The final deal ended up coming in above the range we'd initially expected, and the lack of an earn-out requirement was an unexpected bonus. We’re glad that we didn’t take an offer in the past via another Corporate Finance firm."

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    “It was a pleasure working with you and the team at Evolution; thank you for your hard work in making it happen.”

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    "Thanks for your tremendous efforts & continuous support. 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.”

© 2019 Evolution Complete Business Sales Ltd.

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