M&A Deal Summary

Riverside Partners Acquires Loftware

On July 22, 2014, private equity firm Riverside Partners acquired internet software and services company Loftware from Greyrock Capital Group and Shore Points Capital

Acquisition Highlights
  • This is Riverside Partners’ 1st transaction in the Internet Software and Services sector.
  • This is Riverside Partners’ 29th transaction in the United States.
  • This is Riverside Partners’ 3rd transaction in New Hampshire.
Investment Fate
  • Loftware was sold to a consortium of financial buyers in 2023.

M&A Deal Summary

Date 2014-07-22
Target Loftware
Sector Internet Software and Services
Buyer(s) Riverside Partners
Sellers(s) Greyrock Capital Group
Shore Points Capital
Deal Type Secondary Buyout
Advisor(s) Signal Hill Capital Group LLC (Financial)
Golenbock Eiseman Assor Bell & Peskoe
Bernstein Shur Sawyer & Nelson PA (Legal)

Target

Loftware

Portsmouth, New Hampshire, United States
website
Loftware is a provider of cloud-based Enterprise Labeling and Artwork Management solutions. Loftware was founded in 1986 and is based in Portsmouth, New Hampshire.

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Buyer(S) 1

Buyer

Riverside Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located throughout North America. The Firm has a particular interest in companies that are founder or family owned. Target companies are generally profitable with $3 to $15 million of EBITDA. Specific areas of interest within healthcare include suppliers to biopharmaceutical and medical device companies, medical technology and equipment, medical instrumentation, dental products and services, diagnostics and disposables, and specialized healthcare services. Areas of interest within technology include, analytical instrumentation, semiconductor equipment, industrial communications, wireless components, homeland security, and power generation technology. Transaction situations include partial or complete buyouts, recapitalizations, growth equity, divestitures, take privates, and strategic add-ons. Riverside Partners was formed in 1989 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 29 of 41
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 4 of 6
State (New Hampshire) 3 of 3
Country (United States) 29 of 41
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2013-09-17 American Cadastre

Herndon, Vermont, United States

AMCAD is a enterprise software company that provides software solutions and services to the public sector including state, county and local governments. AMCAD automates the justice and records management ecosystem that includes courts, jails, prosecutors, probation, parole, county clerks and recorders offices, among others. Public sector offices require comprehensive, integrated information management software and solutions, and AMCAD’s innovative suite of products and services including its integrated justice platform, a platform for government records and document management, and various data access technologies allow government offices to operate with enhanced efficiency and effectiveness.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-26 Innovative Product Achievements

Suwanee, Georgia, United States

IPA is a manufacturer of automated surgical scrub dispensing equipment for acute care hospitals and other healthcare providers. IPA’s solutions increase hospital productivity and provide tangible cost savings by reducing replacement and processing costs for scrubs and linens. IPA’s products are installed in over 650 hospitals throughout North America.

Sell -

Seller(S) 2

SELLER

Greyrock Capital Group

Walnut Creek, California, United States

Investor Investor Investor Investor Investor

website


Category Mezzanine Finance Firm
Founded 2002
PE ASSETS 350M USD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Greyrock Capital Group provides mezzanine debt and equity capital to finance buyouts, recapitalizations and growth needs of middle market companies. Greyrock looks to invest between $8 and $40 million of equity and/or junior capital in companies with minimum revenues of $10 million and at least $2 million of EBITDA. Greyrock prefers companies in defensible markets with low cost structures. Greyrock Capital was formed in 2002 and has offices in San Francisco, California; Chicago, Illinois; and Westport, Connecticut.


DEAL STATS #
Overall 20 of 45
Sector (Internet Software and Services) 1 of 1
Type (Secondary Buyout) 7 of 18
State (New Hampshire) 1 of 1
Country (United States) 20 of 45
Year (2014) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-04-04 Hunter s Specialities

Cedar Rapids, Iowa, United States

Hunter's Specialties is a manufacturer of hunting accessories and has been producing quality products.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-15 Bock & Clark

Akron, Ohio, United States

Bock & Clark Corp. is a provider of commercial real estate due diligence services. With offices in Ohio, Pennsylvania, Florida, Oklahoma, California, Colorado, and Rhode Island, Bock & Clark serves clients in all 50 states and Canada in the following capacities: ALTA land and title surveys, boundary surveys, topographic surveys, aerial survey zoning reports and letters, and environmental services. Bock & Clark employs experienced professionals to research and prepares each of these products resulting in due diligence efficiency.

Sell -
SELLER

Shore Points Capital

New York, New York, United States

Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2006
Size Small
Type Sector Agnostic
DESCRIPTION

Shore Points Capital is a private equity firm focused on investing in growth-oriented businesses needing additional capital to reach the 'next level' of expansion and profitability. Shore Points generally looks to invest in closely held, entrepreneurial owned or family businesses operating in 'low-profile' industries where existing management might be willing to invest and share financial risk. Prospective companies typically have $2 to $7 million of EBITDA with enterprise values up to $50 million. Sectors of interest include business services, consumer products/services, distribution, electronics, energy services, financial services, food/restaurants, manufacturing, media/communications, and software/IT. Shore Points Capital was formed in 2006 and is based in New York City.


DEAL STATS #
Overall 3 of 3
Sector (Internet Software and Services) 2 of 2
Type (Secondary Buyout) 1 of 1
State (New Hampshire) 1 of 1
Country (United States) 3 of 3
Year (2014) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-02-16 Breckwell Hearth Products

South Pittsburg, Tennessee, United States

Breckwell Hearth Products is a manufacturer of hearth products under the Breckwell name.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-11-16 GenAlpha Technologies

Brookfield, Wisconsin, United States

GenAlpha Technologies offers a comprehensive suite of software and services with a complete aftermarket solution for original equipment manufacturers. The Company’s GenSuite software provides its customers with a unique platform including eCommerce, data conversion, eCatalogs with 2D and 3D interactive technology and data analytics. GenAlpha Technologies was founded in 2011 and is based in Brookfield, Wisconsin.

Buy -