Priava management buy-out to fuel future growth

International venue and event management software company Priava is set to continue its 22-year growth following founder Michael Scroop’s sale of his interest in the business to a management buyout led by Priava Chief Executive James Pegum, with the backing of Sydney-based investment firm Whiteoak Asset Management.

Announcing the new ownership structure, Pegum stated “the bedrock of the company has never been stronger, solidifying the years of work that the team at Priava has undertaken for the benefit of our customers, staff and shareholders.

“Priava is already synonymous with quality and service excellence, and this investment allows us to continue our ambitious growth plans and meet the needs of more customers across the globe, including key growth markets in APAC, EMEA, USA and Latin America, “ Mr Pegum said.

“We are delighted to have brought on Whiteoak Asset Management as our partners for the next phase of our journey.

“We wanted to ensure that we had an engaged and experienced Board with a successful track record of supporting Australian-headquartered companies to succeed in global expansion."

Priava was advised by Grant Thornton, NeuCapital and Baker & McKenzie.

The following companies ceased to have any relationship with the Priava Group on 31st January 2019: Priava Holdings Pty Ltd, Priava Operations Pty Ltd, Priava Management Pty Ltd, Priava International Pty Ltd ACN 078 592 908 Pty Ltd.

For more information on Priava, click here to view their entry in the Australasian Leisure Management Supplier Directory.