BOSTON, MA — Riverside Partners continued its long history of business building with six new acquisitions and six portfolio re-financings during 2013. Coming off of the successful 2012 raising of its 5th fund, the firm continued to deploy the $561 million into leading Healthcare and Technology companies.
Pharmaceutical Contract Research Services
Riverside partnered with the founders of BioAgilytix, a premier outsourced provider of bioanalytical laboratory testing for pharmaceutical, biotechnology, and agriculture companies. The Company focuses on large molecule / biologic drugs that span multiple therapeutic areas.
Healthcare IT
On the heels of its 2012 acquisition of Stinger Medical, Riverside Partners funded the acquisition of Enovate IT. The combined companies, now branded Enovate Medical, have become the market share leader in the mobile and wall mounted clinical workstation market. Enovate’s broad product line improves clinician workflow at the patient bedside, enabling the implementation and usage of electronic health records, medication distribution, and point-of-care diagnostics.
Software
AMCAD is the latest addition to the Riverside Partners’ software portfolio. AmCad is a leading provider of ERP software used for electronic records management and work-flow automation for state and local government.
Industrial Technology/Communications
Riverside Partners’ continued to support the acquisition strategy of its portfolio company ITC Global, completing the company’s 3rd add on acquisition, Newsat, a significant, European-based VSAT business primarily serving the Oil & Gas vertical. The Newsat acquisition solidifies ITC’s position as one of the market leaders in the oil and gas communications segment.
Telecommunications
Firstlight Fiber completed the acquisition of Teljet Longhaul, a Vermont based provider of carrier and enterprise fiber optic and data center services. Adding the Teljet network broadened Firstlight’s geographic fiber footprint and accelerated the company’s strategy of building one of New England's leading fiber based telecommunications providers.
Renewable Energy
Riverside Partners’ portfolio company RGS Energy (Nasdaq: RGSE) completed the acquisition of Syndicated Solar. Syndicated Solar's efficient sales processes and integrated software tools have enabled it to rapidly grow in the residential sector and will significantly augment Real Goods' nationwide residential solar offering.
Portfolio Optimization
In addition to its strong investment pace, Riverside Partners’ was able to complete meaningful re-financings with the following portfolio companies: Dominion Diagnostics, First Light Fiber, ITC Global, Pilgrim Software, Tegra Medical and Welocalize.
2014 Areas of Interest
Riverside Partners is actively seeking investment opportunities across a broad swath of the Healthcare and Technology sectors. Key investment themes for 2014 include:
Specific portfolio companies identified and described in this e-mail do not represent all of the companies purchased, sold, or recommended for Riverside funds, and the reader should not assume that investments in the portfolio companies identified and discussed were or will be profitable. This e-mail includes a sample of the investments made by Riverside in the healthcare and technology sectors.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.
Riverside Partners Contact:
Jon Lemelman
General Partner
617-351-2810
jlemelman@riversidepartners.com