Key Takeaways
- • Ridgeview Partners LLC, a San Francisco-based growth-oriented technology private equity firm, announced completion of its acquisition of Pinewood Technologies Group plc (Pinewood.AI), a cloud-based, AI-first software provider to automotive retailers and OEMs.
- • Pinewood.AI's platform unifies software for sales, aftersales, accounting, CRM and data analytics into a single system of record for dealers and OEMs, serving users in over 36 countries and partnerships with more than 50 OEM brands.
- • Ridgeview plans to accelerate Pinewood.AI's expansion across North America and invest in data and AI-driven innovation, according to co-founder and managing partner Hilton Romanski.
- • RBC Capital Markets advised Ridgeview as lead financial advisor, while Jefferies International advised Pinewood.AI; Sidley Austin and Cameron McKenna Nabarro Olswang served as legal advisors.
Summary
Ridgeview Partners LLC ("Ridgeview"), a growth-oriented technology private equity firm headquartered in San Francisco, has completed its acquisition of Pinewood Technologies Group plc ("Pinewood.AI"), according to a Business Wire release. Pinewood.AI is a cloud-based, AI-first, full-service technology provider to automotive retailers and OEMs. Its platform consolidates mission-critical software for sales, aftersales, accounting, CRM and data analytics into a single system of record for dealers and OEMs. Established in 1981, the company has headquarters in the U.K. and North America, serves a global user base across more than 36 countries, and has long-standing partnerships with over 50 OEM brands.
Bill Berman, Chief Executive Officer of Pinewood.AI, said the team expects Ridgeview's technology expertise and commitment to long-term growth to help accelerate the company's roadmap, enter new markets and deliver greater value to customers. Hilton Romanski, Co-Founder and Managing Partner of Ridgeview, said the firm will help Pinewood.AI expand across North America, invest in data and AI-driven innovation, and deliver value across all of its markets. Michael Hulslander, Co-Founder and Managing Partner of Ridgeview, described the platform as uniquely positioned to help dealerships reach their full potential.
Bryan DeBoer, Chairman and CEO of Lithia & Driveway, described Pinewood.AI as a true partner in reshaping how its stores operate. He said Lithia & Driveway's U.K. teams are already using the AI-native dealership platform and that the company looks forward to bringing Pinewood.AI to North America.
The release lists advisors on the transaction. RBC Capital Markets served as lead financial advisor to Ridgeview and Jefferies International Limited served as lead financial advisor to Pinewood.AI. Sidley Austin LLP acted as legal advisor to Ridgeview, and Cameron McKenna Nabarro Olswang LLP acted as legal advisor to Pinewood.AI. H/Advisors served as strategic communications advisor to Ridgeview, while Newcome Advisory and Headland advised Pinewood.AI on communications. The release did not disclose the transaction value.
Bill Berman, Chief Executive Officer of Pinewood.AI, said the team expects Ridgeview's technology expertise and commitment to long-term growth to help accelerate the company's roadmap, enter new markets and deliver greater value to customers. Hilton Romanski, Co-Founder and Managing Partner of Ridgeview, said the firm will help Pinewood.AI expand across North America, invest in data and AI-driven innovation, and deliver value across all of its markets. Michael Hulslander, Co-Founder and Managing Partner of Ridgeview, described the platform as uniquely positioned to help dealerships reach their full potential.
Bryan DeBoer, Chairman and CEO of Lithia & Driveway, described Pinewood.AI as a true partner in reshaping how its stores operate. He said Lithia & Driveway's U.K. teams are already using the AI-native dealership platform and that the company looks forward to bringing Pinewood.AI to North America.
The release lists advisors on the transaction. RBC Capital Markets served as lead financial advisor to Ridgeview and Jefferies International Limited served as lead financial advisor to Pinewood.AI. Sidley Austin LLP acted as legal advisor to Ridgeview, and Cameron McKenna Nabarro Olswang LLP acted as legal advisor to Pinewood.AI. H/Advisors served as strategic communications advisor to Ridgeview, while Newcome Advisory and Headland advised Pinewood.AI on communications. The release did not disclose the transaction value.
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