Riveron invests in data and AI consultancy Cuesta Partners

Riveron, a Dallas-based business advisory firm, has made a strategic investment in Cuesta Partners, a Chicago-based data and AI consulting firm.

Riveron, which is backed by private equity firm Kohlberg, will together with Cuesta offer an expanded suit of AI and data solutions to support middle market companies.

Cuesta founders Tom Derhake, Riley Scott, and Chris Steiner will retain significant ownership in and continue to lead the company.

“Cuesta was built to help companies move beyond AI experimentation to real, measurable impact,” said Scott. “Partnering with Riveron allows us to scale alongside a firm that shares our focus on execution and results.”

The partnership will combine Riveron’s financial expertise with Cuesta’s data, AI, and technology services to help clients modernize the office of the CFO’s core business operations.

“The next decade will demand AI-native operations paired with financial agility, and the Riveron-Cuesta partnership brings a combination of capabilities that is unmatched in today’s market,” said Sam Shaw, CEO of Riveron. “By aligning our talented teams, we are creating a new lane in the market that better serves CFOs, private equity firms, and their portfolio companies.”

Cuesta was founded in 2019 and has more than 130 people across the US, Canada, and Colombia. The firm works with private equity and corporate clients on data strategy and advanced analytics, AI strategy and execution, M&A advisory and technology due diligence, technology strategy and delivery, and transformation support.

“We are proud to partner with Tom, Riley, Chris, and the entire Cuesta team,” said Ahmed Wahla, partner at Kohlberg. “The vision for the partnership is for Riveron and Cuesta to present a truly unique offering to clients where AI and data are at the foundation of all products and services.”

Kohlberg acquired Riveron in 2023 from prior owner H.I.G. Capital, which retains a minority stake in the consultancy.

Riveron was founded in 2006 and has over 1,200 professionals across 18 offices in the US, Canada, and India. The firm works with CFOs and private equity firms on areas including accounting, ESG, finance, M&A, operations, restructuring & turnaround, strategic communications, tax, and technology.

Riveron last year acquired Eden Data, an Austin-based cybersecurity and governance, risk, and compliance (GRC) advisory firm.