Avetta Buys Pegasus
May 10, 2021
has agreed to acquire Pegasus, a leader in worker competency management software
and services. Based in Newcastle, Australia, its products are used by more than
100 hiring clients, including BHP, Lendlease, and Otis, to manage 3.5 million
workers employed by 70,000 suppliers.
The combination will help accelerate Avetta’s global growth strategy and is
expected to create the largest provider of supply chain risk management and
compliance solutions, with nearly 170,000 suppliers and 4 million managed
The events of the past year have highlighted that risks to an organization
extend into its supply chain and on-site contractors. In order to ensure safer
operations, corporations must ensure these essential workers have sufficient
training and accreditation to perform their jobs without injury, and monitor
access to hazardous areas and equipment. The powerful Pegasus online platform
has helped manage these trade-specific compliance requirements since its
inception in the mining industry in 1987.
“Together, Avetta and Pegasus will provide our clients the largest and most
complete supply chain risk and worker competency management solution in the
world,” said Arshad Matin, Avetta CEO and President. “The Australian government
and businesses have led the way in monitoring contractor safety and compliance
programs. We are excited to add this pioneering software innovator and take
those insights and capabilities worldwide.”
“Pegasus and Avetta both share a vision to ensure workforces are competent and
safe, and risk is being managed, globally,” said Adam Boyle, Pegasus CEO. “Our
worker competency expertise complements Avetta’s world-class supply chain risk
management product, and will benefit our people, clients, and contractors as
they access an even greater international network in a single provider.”
in Newcastle, Pegasus also has offices in New Zealand and channel partners in
Germany, England and Scotland. The company provides worker competency
management, induction and learning management, supplier prequalification, site
access, and asset management. It serves a diverse range of industries, including
construction, energy, healthcare, government, manufacturing, mining, retail &
facilities, transportation, and utilities.
Pegasus will become the base of operations for Avetta in Australia. Pegasus CEO,
Adam Boyle, will join Avetta and continue to lead the Pegasus business and help
Avetta expand further in the Australia-New Zealand (ANZ) market. Adam and
current Pegasus investor, Accel-KKR, will become equity investors in Avetta.
Avetta’s technology platform, Avetta Connect™, helps companies worldwide manage
risk, and build resilience in their supply chains – from increasing visibility
within the network to ensuring safety and sustainability. The Avetta Marketplace
provides suppliers and contractors deep discounts on insurance and
safety-related products and services. The company is majority-owned by Welsh,
Carson, Anderson & Stowe with key investments from Technology Crossover
Ventures, and Norwest Venture Partners.
The acquisition is expected to close after receipt of regulatory approvals.
Until that time, both companies will continue to operate independently.