Mergers & Acquisitions
Ridgeview Partners Closes Pinewood.AI Deal After £545 Million Takeover
By News Desk ·
Key takeaways
- Ridgeview Partners completed its acquisition of Pinewood Technologies Group, a cloud-based AI-first platform for automotive retailers and OEMs.
- Ridgeview Partners agreed in August 2026 to acquire Pinewood Technologies for approximately £545 million, or £4.48 per share in cash or rollover equity.
- Pinewood.AI serves a global user base across more than 36 countries and has partnerships with over 50 OEM brands.
Ridgeview Partners LLC has completed its acquisition of Pinewood Technologies Group plc, the cloud-based, AI-first technology provider to automotive retailers and OEMs, the buyer said in a Business Wire announcement on October 27, 2026. Ridgeview is a growth-oriented technology private equity firm. Pinewood.AI, established in 1981, sells cloud software for dealership sales, aftersales, accounting, CRM and data analytics.
Ridgeview's Completed Pinewood.AI Takeover
Ridgeview said the transaction closed with Pinewood.AI as its portfolio company. The deal was agreed in August 2026 at approximately £545 million, or £4.48 per share in cash or rollover equity, according to Pulse 2.0. Pinewood.AI's platform combines sales, aftersales, accounting, CRM and analytics into a single cloud-based 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."
Bryan DeBoer, Chairman and CEO of Lithia & Driveway, said his company's U.K. teams "are already experiencing what an AI-native dealership platform can do for our people and our customers." Michael Hulslander, Co-Founder and Managing Partner of Ridgeview, said the firm could not "be more excited to partner with Pinewood.AI to power the next-generation dealership." Hilton Romanski, also Co-Founder and Managing Partner, said the focus turns to investing behind Pinewood.AI's next phase of growth, accelerating its North American expansion and investing in data and AI-driven innovation.
RBC Capital Markets was lead financial advisor to Ridgeview, and Jefferies International Limited was lead financial advisor to Pinewood.AI. Sidley Austin LLP advised Ridgeview legally, and Cameron McKenna Nabarro Olswang LLP advised Pinewood.AI.
Ridgeview Partners' 2024 Founding
Ridgeview Partners was founded in 2024 and is headquartered in San Francisco, according to akta.pro company records. The same records describe it as a technology-focused private equity firm investing on behalf of undisclosed limited partners, with a headcount range of 11-50 and a pre-revenue revenue estimate. The records list its 2024 establishment as a technology-focused private equity firm and a 2024 product launch of its corporate website with an investor portal linked through Carta.
Pinewood.AI's Path to the Closing
In July 2026, U.K. Piston Bidco Limited, indirectly owned by entities administered by Ridgeview Partners, announced a non-binding offer of £4.48 per share in cash, valuing Pinewood.AI at approximately £545 million, Investing.com reported. Pinewood's board indicated it would recommend the £545 million proposal, Yahoo reported that month. In August 2026, Piston Bidco reported a decline in support for the acquisition after Feoh Investments UK LLP disposed of 1 million shares, Investing.com reported.
Court Sanction and Delisting Dates
The court sanctioned the £545 million acquisition, with completion expected on October 9, 2026, Insidermedia reported. Pinewood Technologies Group cancelled its ordinary shares from admission to trading on the London Stock Exchange effective October 12, 2026 at 08:00, Investegate reported.