Inriver, a company that empowers organizations to deliver revenue-driving product information management (PIM), today announced that it will receive a majority investment from Thomas H. Lee Partners, L.P. (THL), a premier private equity firm investing in growth companies. Verdane, the European specialist growth equity investor and current inriver shareholder, will retain a significant stake in the Company. The transaction will include a significant primary capital investment to support inriver’s product development roadmap and significantly expand its presence in North America and Europe, to meet the demands of a high-growth market.
Headquartered in Malmö, Sweden, with its North American headquarters in Chicago, inriver helps the world’s leading manufacturers, distributors, and retailers harness the power of their product information to deliver exceptional customer experiences across channels.
“This is a milestone for inriver, our customers, partners, and investors,” said Thomas Zanzinger, CEO of inriver. “It’s a testament to the importance of product information as it is a foundation for modern commerce. We are excited to grow and scale in North America and across Europe to meet evolving market and customer demands with the investment from THL.”
Cliff Longley, Director at THL, added, “Inriver fits THL’s sector thesis related to ecommerce and digital enablement software, and its technology is fundamental to executing commerce at scale. We look forward to supporting go-to-market investments to accelerate growth in North America and build on the Company’s strength in Europe.”
Pål Malmros, Partner at Verdane, commented, “The Verdane team is pleased to continue to draw on our unique combination of software and digital consumer expertise to support inriver’s continued growth. Since Verdane first invested in inriver, the company has grown 10x in size and established itself as a global leader. We are certain that through this partnership with THL, inriver has secured the perfect backing to continue on its strong growth path – and most important of all – continue to deliver world class products to existing and future customers.”
Terms of the transaction were not disclosed. The transaction is expected to close in calendar Q2 2022.
See the original press release here.