M&A Deal Summary

Kohlberg & Company and H.I.G. Private Equity Acquire Riveron

On June 9, 2023, private equity firms Kohlberg & Company and H.I.G. Private Equity acquired business services company Riveron from H.I.G. Private Equity

Acquisition Highlights
  • This is Kohlberg & Company’s 10th and H.I.G. Private Equity’s 36th transaction in the Business Services sector.
  • This is Kohlberg & Company’s 76th and H.I.G. Private Equity’s 221st transaction in the United States.
  • This is Kohlberg & Company’s 6th and H.I.G. Private Equity’s 24th transaction in Texas.

M&A Deal Summary
Date 2023-06-09
Target Riveron
Sector Business Services
Buyer(s) Kohlberg & Company
H.I.G. Private Equity
Sellers(s) H.I.G. Private Equity
Deal Type Secondary Buyout
Advisor(s) Jefferies
Moelis & Co. (Financial)

Target

Riveron

Dallas, Texas, United States
Riveron is a provider of event-driven financial consulting and due diligence for corporate clients and private equity firms. Riveron operates across three practice areas Financial Advisory, Transaction Advisory, and Business Advisory. Riveron Consulting was founded in 2006 and is based in Dallas, Texas.

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Buyer(S) 2

Buyer

Kohlberg & Company

Mount Kisco, New York, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1987
PE ASSETS 11.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Kohlberg & Company is a private equity firm which acquires middle-market companies with consistent cash flow, and underperforming companies with operational deficiencies. Kohlberg looks to commit $100 to $500 million of equity capital in opportunities valued from $200 million to $2 billion. Kohlberg generally looks for opportunities in the manufacturing and service sectors, however the Firm will also selectively consider businesses in food and healthcare. Kohlberg tends not to consider technology or communications companies. Kohlberg & Company was formed in 1987 and has offices in Mt. Kisco, New York.

DEAL STATS #
Overall 78 of 79
Sector (Business Services) 10 of 10
Type (Secondary Buyout) 31 of 32
State (Texas) 6 of 6
Country (United States) 76 of 77
Year (2023) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-30 United Digestive

Atlanta, Georgia, United States

United Digestive provides a strong operational infrastructure for GI practices including regulatory assistance, managed care resources, and a full-service back-office that can be leveraged across a significantly larger geographic footprint. The company anticipates continued robust expansion through both near-term de-novo growth as well as complementary acquisitions and will bring operational best practices to additional GI practices while allowing providers to retain their clinical independence and a continued emphasis on high-quality patient care. United Digestive was formed in 2018 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-21 U.S. Retirement & Benefits Partners

Iselin, New Jersey, United States

U.S. Retirement & Benefits Partners is an independent K-12 public school and governmental employee benefits and retirement planning services firm. The company serves educational, governmental, corporate, union, and non-profit employers with the care and attention that their employees deserve, helping them make retirement planning decisions that align with their goals and objectives and benefit choices suited for their personal needs by providing customers with resources and tools. U.S. Retirement & Benefits Partners was founded in 2008 and is based in Iselin, New Jersey.

Sell -
Buyer

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 336 of 358
Sector (Business Services) 36 of 39
Type (Secondary Buyout) 55 of 65
State (Texas) 24 of 27
Country (United States) 221 of 237
Year (2023) 7 of 15
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Tower Engineering Professionals

Raleigh, North Carolina, United States

Tower Engineering Professionals is an operator of engineering services firm focused on serving the telecommunications industry. Tower Engineering Professionals' services include structural analysis, civil engineering, surveying; environmental, inspection, geotechnical, renewable energy, residential, commercial, plumbing, mechanical, and electrical, and structural modification and design. Tower Engineering Professionals was founded in 1997 and is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Advanced Dental Brands

Canton, Massachusetts, United States

Advanced Dental Brands is a dental partnership organization (DPO) partnering with nearly 40 dental practices across multiple states. The Company supports its partner practices through marketing support, recruiting and human resources assistance, IT investment, accounting expertise, and expansion of dental services. Advanced Dental Brands is based in Canton, Massachusetts.

Buy -

Seller(S) 1

SELLER

H.I.G. Private Equity

Miami, Florida, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1993
PE ASSETS 57.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

HIG Private Equity is the private equity arm of HIG Capital LLC. The firm focuses on management buyouts, growth equity investments, and recapitalizations of middle market companies with an enterprise value of $50 - $500 million. The Firm also will consider add-on acquisitions, industry consolidations, going-privates, and corporate divestitures. Sectors of interest include aerospace, building materials, business services, consumer products, distribution, healthcare, infrastructure, contracting, manufacturing, media, oil & gas services, IT, and transportation. HIG was formed in 1993 and has offices in Miami, Atlanta, Boston, and San Francisco. HIG's European affiliate is HIG Europe with offices in London, Hamburg, and Paris.

DEAL STATS #
Overall 150 of 159
Sector (Business Services) 18 of 18
Type (Secondary Buyout) 64 of 69
State (Texas) 8 of 8
Country (United States) 111 of 114
Year (2023) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-04-12 Tower Engineering Professionals

Raleigh, North Carolina, United States

Tower Engineering Professionals is an operator of engineering services firm focused on serving the telecommunications industry. Tower Engineering Professionals' services include structural analysis, civil engineering, surveying; environmental, inspection, geotechnical, renewable energy, residential, commercial, plumbing, mechanical, and electrical, and structural modification and design. Tower Engineering Professionals was founded in 1997 and is based in Raleigh, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-06-26 Advanced Dental Brands

Canton, Massachusetts, United States

Advanced Dental Brands is a dental partnership organization (DPO) partnering with nearly 40 dental practices across multiple states. The Company supports its partner practices through marketing support, recruiting and human resources assistance, IT investment, accounting expertise, and expansion of dental services. Advanced Dental Brands is based in Canton, Massachusetts.

Buy -
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