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FT Partners Advises AvidXchange on its Acquisition of Ariett

Overview of Transaction

  • On November 20, 2017, AvidXchange announced it has acquired Ariett, a leading cloud solution provider in the fast-growing purchase-to-pay market
  • Headquartered in Pembroke, MA, Ariett helps midmarket and enterprise customers to generate savings on contracts, requisitions, purchase orders, invoices, payments and expense reports with a unified procurement platform
  • AvidXchange is a best-in-class, business-to-business payments company that is revolutionizing how companies pay their bills by automating the invoice and payment processes
  • The Company focuses on serving mid-market clients and spans multiple industries including Real Estate, Financial Services, Energy and Construction

Significance of Transaction

  • The acquisition will enable the current, and future, joint customer base to benefit from the complementary solutions from both companies, which will together deliver an industry leading purchase-to-pay experience
  • Ariett’s solutions and its team’s experience will offer AvidXchange’s customers extended purchasing functionality to help manage spending with requisition approval, purchase order management and the ability to analyze and forecast expenses
  • Additionally, AvidXchange will be able to offer Ariett’s customers a best-in-class payment automation solution

FT Partners' Role

  • FT Partners served as exclusive strategic and financial advisor to AvidXchange and its Board of Directors on this transaction
  • FT Partners has served as AvidXchange’s long-term advisor, advising the Company on numerous sell-side and buy-side transactions, including its recent $300 million Series F Financing