Ridgeview Partners completes acquisition of Pinewood.AI

Ridgeview Partners said it completed its acquisition of Pinewood Technologies Group plc, known as Pinewood.AI, a cloud-based software provider whose platform combines sales, aftersales, accounting, CRM and data analytics into one system for automotive retailers and OEMs. Terms were not disclosed.

Ridgeview co-founders Michael Hulslander and Hilton Romanski said the firm will invest behind the company's next phase of growth, including expansion across North America and further spending on data and AI-driven products. Pinewood.AI CEO Bill Berman said the partnership would help speed its roadmap and entry into new markets.

Lithia & Driveway chairman and CEO Bryan DeBoer, whose company is bringing Pinewood.AI to North America, welcomed the deal. RBC Capital Markets and Sidley Austin advised Ridgeview, while Jefferies International and Cameron McKenna Nabarro Olswang advised Pinewood.AI.