RIA Advisory and TMG Consulting Merge to Create Comprehensive Suite of Revenue Management Solutions
May 02 -
CORAL GABLES, Fla., May 1, 2023 /PRNewswire/ -- RIA Advisory, a leading revenue management solutions provider, and TMG Consulting ("TMG"), a top advisory and professional services firm to the utilities market, today announced a merger to create an industry-leading provider of revenue management solutions for clients across the financial services, healthcare payers, utilities, and public sector verticals.
Founded in late 2016, RIA Advisory has grown into a global leader in revenue management solutions by combining scalable Oracle platforms, proprietary IP, institutional knowledge of the revenue management space, and deep domain expertise across multiple industries. In August 2022, RIA Advisory partnered with Avance Investment Management ("Avance"), a private equity firm based in New York and Miami, to accelerate its growth trajectory.
The merger with TMG is expected to enhance RIA Advisory's professional services and advisory capabilities and expand into the growing utilities market. With a combined workforce of over 700 professionals across the globe, the combined company will have a strong presence in the U.S., Canada, the U.K., India, the Philippines, and Australia. The combined company will leverage its deep domain expertise and technology capabilities to deliver industry-specific solutions that optimize revenue, improve customer experience, and deliver operational efficiencies.
"We are thrilled to announce this merger, which will provide our clients with the most innovative and comprehensive revenue management solutions available to the market today," said Saket Pabby, CEO of RIA Advisory. "Combining the strengths of RIA Advisory and TMG will result in a more comprehensive array of product and service offerings for our clients. We are excited to bring together two teams of highly skilled professionals with shared values and a complementary culture to continue driving innovation and delivering exceptional value to clients."
"RIA Advisory, with its industry-leading products and revenue management solutions, is the perfect partner for TMG's leading Oracle practice and consultancy to continue supporting digital transformation of our utilities customers," said Mario Bauer, CEO of TMG. "We believe that this merger will bring significant value to our clients and accelerate growth for the combined company."
"The combination of RIA and TMG creates a billing and revenue management solutions provider with leading positions in the financial services, healthcare payors, and utilities end markets," said John Civantos, Senior Partner of Avance. "We are proud to partner with both management teams to make this exciting opportunity a reality."
About RIA Advisory
RIA Advisory is a leading revenue management solutions provider that solves mission-critical problems for clients through a compelling combination of scalable Oracle platforms, proprietary IP, institutional knowledge of the revenue management space, and deep domain expertise across the financial services and healthcare verticals. The company, which employs more than 600 professionals worldwide, is headquartered in Coral Gables, Florida, with offices in the U.S., Canada, the U.K., India, the Philippines, and Australia.
About TMG Consulting
TMG is an advisory and professional services firm working with utilities to plan, develop, implement, and manage their ecosystem of digital technology solutions and service providers. Over the past 30 years, TMG has worked with over 300 utilities, matching their business needs with digital solutions, systems integrators, and implementation services to maximize the value of their customers and optimize and de-risk their IT investment. TMG brings deep experience across all major IT domains, including CIS, Metering, Asset Management, Work Management, Resource Planning, and ERP environments. TMG's clients include Utilities of all sizes providing Water, Gas, Electric, and Municipal Services in both regulated, competitive, and public power markets.
About Avance Investment Management
Avance is a private equity firm with a passion for building great businesses in partnership with talented management teams. Avance focuses primarily on thematic investments within the Services, Technology and Consumer areas in the U.S., seeking attractive opportunities with catalysts for growth and fragmented spaces with consolidation opportunities. Avance's team has a long history of partnering with founder-owned businesses, industry executives, and management teams and aims to add value to each investment through the application of its STAGE™ value creation framework. Avance has offices in New York and Miami.