M&A Deal Summary

The Riverside Company Acquires Townsend Group

On April 29, 2024, private equity firm The Riverside Company acquired business services company Townsend Group from Aon

Acquisition Highlights
  • This is The Riverside Company’s 22nd transaction in the Business Services sector.
  • This is The Riverside Company’s 195th transaction in the United States.
  • This is The Riverside Company’s 18th transaction in Ohio.

M&A Deal Summary

Date 2024-04-29
Target Townsend Group
Sector Business Services
Buyer(s) The Riverside Company
Sellers(s) Aon
Deal Type Divestiture

Target

Townsend Group

Cleveland, Ohio, United States
website
Townsend Group provides global real estate and real asset investment advisory services. The company offers complementary asset management, advisory, and capital solutions to LPs and GPs via funds, secondaries, co-investments, and direct investments. It advises global public and private pension plans, insurers, sovereign wealth funds, endowments, and foundations. Townsend Group was established in 1983 and is based in Cleveland, Ohio.

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Buyer(S) 1

Buyer

The Riverside Company

New York, New York, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1988
PE ASSETS 5.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

The Riverside Company is a global private equity firm that seeks investments in profitable lower middle-market companies valued under $400 million. Riverside looks to invest in growth businesses headquartered in North America, Europe, and Asia (primarily Japan and South Korea), that have been in operation for at least five years. Riverside targets investments in a wide array of industries including distribution, automotive, healthcare, education, manufacturing, software, consumer services, plastics, publishing, food, communications, marine, and business services. Riverside was formed in 1988 and is based in New York City.


DEAL STATS #
Overall 283 of 283
Sector (Business Services) 22 of 22
Type (Divestiture) 9 of 9
State (Ohio) 18 of 18
Country (United States) 195 of 195
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-01-11 E&A Scheer

Amsterdam, Netherlands

E&A Scheer is a global blender and vendor of premium rum in bulk. E&A Scheer is based in Amsterdam, Netherlands.

Sell -

Seller(S) 1

SELLER

Aon

Dublin , Ireland

website


Category Company
Founded 1919
Sector Insurance
Employees50,000
Revenue 11.1B USD (2020)
DESCRIPTION
Aon's offices in downtown Sydney, Australia.
Aon's offices in downtown Sydney, Australia.

Aon is a provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing. Aon serves clients through two segments, Risk Solutions and HR Solutions. Risk Solutions acts as an advisor and insurance and reinsurance broker, helping clients manage their risks via consultation, as well as negotiation and placement of insurance risk with insurance carriers through our global distribution network. HR Solutions partners with organizations to solve their most complex benefits, talent and related financial challenges, and improve business performance by designing, implementing, communicating and administering a wide range of human capital, retirement, investment consulting, health care, compensation and talent management strategies. Aon was founded in 1919 and is based in Dublin, Ireland.


DEAL STATS #
Overall 20 of 20
Sector (Business Services) 7 of 7
Type (Divestiture) 20 of 20
State (Ohio) 1 of 1
Country (United States) 12 of 12
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-04-22 Healthy Paws

Bellevue, Washington, United States

Healthy Paws is a managing general agent (MGA) specializing in pet insurance serves more than 500,000 dogs and cats in the U.S. The company provides program and claims administration via a digital proprietary platform. Healthy Paws was founded in 2009 and is based in Bellevue, Washington.

Sell -