News

Avetta Acquired by EQT Private Equity for $3B

April 2, 2024

Avetta plans to expand its product offerings, including generative AI-based risk management solutions.

Avetta, with 12 locations globally and 750 employees, has been acquired by EQT Private Equity, for $3 billion.

The announcement on April 2 states that the EQT X fund acquired Avetta from Welsh, Carson, Anderson & Stowe.

Avetta, a provider of supply chain risk management software, has a global network that spans over 130 countries, with 500 hiring clients and 130,000 contractors.

EQT will support Avetta through the development of new products and technologies, adoption of AI automation and global expansion, the companies said.

“Our partnership with EQT propels Avetta into a new era of innovation and growth, reinforcing our dedication to fostering safer, more sustainable workplaces across our global clients and suppliers,” remarked Arshad Matin, CEO of Avetta, in a statement. “This transition is not just a significant milestone for Avetta but for the supply chain risk management (SCRM) industry at large. With the support of EQT, we are poised to enhance our product suite and operational reach further, as demonstrated by ‘Ask Ava,’ our generative AI risk assistant.”

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EHS Today Staff

EHS Today's editorial staff includes:

Dave Blanchard, Editor-in-Chief: During his career Dave has led the editorial management of many of Endeavor Business Media's best-known brands, including IndustryWeek, EHS Today, Material Handling & Logistics, Logistics Today, Supply Chain Technology News, and Business Finance. In addition, he serves as senior content director of the annual Safety Leadership Conference. With over 30 years of B2B media experience, Dave literally wrote the book on supply chain management, Supply Chain Management Best Practices (John Wiley & Sons, 2021), which has been translated into several languages and is currently in its third edition. He is a frequent speaker and moderator at major trade shows and conferences, and has won numerous awards for writing and editing. He is a voting member of the jury of the Logistics Hall of Fame, and is a graduate of Northern Illinois University.

Adrienne Selko, Senior Editor: In addition to her roles with EHS Today and the Safety Leadership Conference, Adrienne is also a senior editor at IndustryWeek and has written about many topics, with her current focus on workforce development strategies. She is also a senior editor at Material Handling & Logistics. Previously she was in corporate communications at a medical manufacturing company as well as a large regional bank. She is the author of Do I Have to Wear Garlic Around My Neck?, which made the Cleveland Plain Dealer's best sellers list.

Nicole Stempak, Managing Editor: Nicole Stempak is managing editor of EHS Today and conference content manager of the Safety Leadership Conference.