International venue and event management software company Priava is set to continue its 22-year winning streak after founder Michael Scroop sold his interest into a Management Buyout led by Priava CEO James Pegum with the backing of Sydney based, Whiteoak Asset Management.
Priava is the World’s leading cloud-based venue management software company that specialises in delivering venue and event management solutions using the SaaS (Software-as-a-Service) business model to a wide portfolio of niche markets in the venue and events sector.
“Priava is already synonymous with quality and service excellence and this investment allows us to underwrite our ambitious growth plans to continue delivery across the globe, including key growth markets in APAC, EMEA, USA and Latin America, “James Pegum, CEO, Priava, said.
“We are delighted to have brought on Whiteoak Asset Management as our partners in the next phase of our journey”, says Pegum. “This wasn’t just about attracting a financial investor, we wanted to ensure that we had an engaged and experienced board that had a track record of steering global companies to assist us along our journey,” said Pegum.
A competitive process was run to attract the most suitable investor with Corporate Advisory provided by Grant Thornton & NeuCapital and Legal Advisory by Baker & McKenzie, both long term advisors to the Priava Group.
“We have been working with Priava for the last nine years, supporting their ambitions both here in Australia and overseas. We’re pleased to have assisted in this milestone transaction for Priava, which places the company in an excellent position to continue its global expansion,” Paul Gooley, National Head of Corporate Finance, Grant Thornton Australia, said.
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