March 12, 2020 — Boston, MA: Riverside Partners, a Boston-based private equity firm focused on investing in lower middle market healthcare and technology companies, today announced the promotions of David Del Papa and Craig Stern to General Partner, effective immediately.
"During this time, I have seen first-hand David and Craig's commitment to executing our lower middle market investment strategy and partnering with founder-led businesses. Each exemplifies the character, values and collaboration that are critical to the continued success of our firm and we are highly confident in their abilities to help lead us in the future,” said David Belluck, Founder and General Partner.
Mr. Del Papa has expanded and enhanced the firm’s technology investment team since joining Riverside Partners as a Vice President in 2012. He played a key role on several successful technology investments, including ITC Global (sold to Panasonic Corporation in 2015) and Eliassen Group (sold to Stone Point Capital in 2018). He currently leads new investments in the technology sector and works with R&D Altanova, a leading turn-key provider of test interface solutions, and 3Play Media, a fast-growing provider of closed captioning and audio description services.
Mr. Stern has expanded and enhanced the firm’s healthcare investment team since joining Riverside Partners as a Vice President in 2012. He has added significant value to multiple healthcare investments, including BioAgilytix (sold to Cobepa in November 2018). He currently serves on the board of Revecore, a leading provider of specialty reimbursement solutions focused on underpayments, denial management, motor vehicle accident, and workers’ compensation claims, and Enovate, a leading designer and manufacturer of clinical workstations sold to hospitals throughout the U.S.
In addition, Chris Ryan has decided to leave Riverside Partners, effective March 2020, in order to pursue new opportunities. He will initially continue to serve on the boards of Calero-MDSL, Openforce and 3Play Media.
Mr. Belluck added, “We are grateful to Chris for his many contributions to Riverside and its technology portfolio companies since 2011, and we wish him well in his next endeavor.”
The elevations of David and Craig represent their significant contributions and successful portfolio outcomes for Riverside Partners and its limited partners over a nearly 10-year period. David Belluck Founder, General Partner
About David Del Papa
Mr. Del Papa brings more than 14 years of private equity and management consulting experience to Riverside Partners. Previously, Mr. Del Papa worked at H.I.G. Capital, serving as a member of the lower middle market buyout team. He also was a management consultant at the Boston Consulting Group. He received a B.A. degree in Ethics, Politics, & Economics, magna cum laude, from Yale University and a Master of Business Administration from the Harvard Business School.
About Craig Stern
Mr. Stern brings more than 18 years of private equity and operations experience to Riverside Partners. Previously, Mr. Stern led corporate development at Nextag, a technology and e-commerce company, where he oversaw the sourcing and completion of acquisitions in the U.S. and Europe. He subsequently served as a Vice President at Providence Equity Partners, focusing on technology and media investments, and an investment professional at General Atlantic Partners, focusing on investments in software, technology-enabled services, and digital media businesses. He started his career in the telecommunications group within the investment banking division of Morgan Stanley. Craig received a Bachelor of Arts degree in Economics and East Asian Studies, with honors, from Harvard College, and a Master of Business Administration from Harvard Business School.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm 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. For more information, visit www.riversidepartners.com.
Riverside Partners Contact:
Andy Merrill or Nick Rust
Prosek Partners
(646) 818-9252