SAN FRANCISCO: Ridgeview Partners LLC (“Ridgeview”), a growth-oriented technology private equity firm, today announced the completion of the acquisition of Pinewood Technologies Group plc (“Pinewood.AI”), a leading cloud-based, AI-first, full-service technology provider to automotive retailers and OEMs.

Pinewood.AI is redefining how automotive retailers run their businesses. Its platform unifies mission-critical software for sales, aftersales, accounting, CRM and data analytics into a single cloud-based, AI-first, system of record for dealers and OEMs.

“The entire Pinewood.AI team and I are excited to work with Ridgeview,” said Bill Berman, Chief Executive Officer of Pinewood.AI. “Their deep technology expertise and commitment to long-term growth will help us accelerate our roadmap, enter new markets, and deliver even greater value to our customers.”

“Pinewood.AI has been a true partner in reshaping how our stores operate,” said Bryan DeBoer, Chairman and CEO of Lithia & Driveway. “Our teams in the U.K. are already experiencing what an AI-native dealership platform can do for our people and our customers. As we bring Pinewood.AI to North America, we look forward to building alongside Bill, Ridgeview, and the entire team for many years to come.”

“We could not be more excited to partner with Pinewood.AI to power the next-generation dealership,” said Michael Hulslander, Co-Founder and Managing Partner of Ridgeview. “Pinewood.AI’s modern, end-to-end, AI-first platform is uniquely positioned to help dealerships reach their full potential.”

“With the transaction complete, our focus turns to investing behind Pinewood.AI’s next phase of growth,” said Hilton Romanski, Co-Founder and Managing Partner of Ridgeview. “Moving forward, we will help Pinewood.AI accelerate its expansion across North America, invest in data and AI-driven innovation, and deliver value for customers and partners across all of its markets.”

Advisors

RBC Capital Markets served as lead financial advisor to Ridgeview. Jefferies International Limited served as lead financial advisor to Pinewood.AI.

Sidley Austin LLP acted as legal advisor to Ridgeview. Cameron McKenna Nabarro Olswang LLP acted as legal advisor to Pinewood.AI.

H/Advisors served as strategic communications advisor to Ridgeview. Newcome Advisory and Headland served as strategic communications advisors to Pinewood.AI.

About Pinewood Technologies Group plc

Established in 1981, Pinewood Technologies Group plc is a leading cloud-based full-service technology provider to automotive retailers and OEMs. Pinewood.AI’s system is a market-leading automotive intelligence platform, which has been developed collaboratively with dealers and OEMs to provide secure software across sales, aftersales, accounting and CRM. With headquarters located in the U.K. and North America, Pinewood.AI serves a global user base spanning over 36 countries and has long-standing partnerships with over 50 OEM brands.

About Ridgeview Partners

Headquartered in San Francisco, Ridgeview Partners is a growth-oriented technology private equity firm. Ridgeview has a differentiated combination of investment and operating expertise that it leverages to help companies accelerate value creation. The firm prides itself on being a preferred partner to founders, management and investors.

Fonte: Business Wire