Riverside Partners Mergers and Acquisitions Summary

Private Equity Profile

In the last 3 years, Riverside Partners has acquired 5 companies. It has also invested in 2 others.

Riverside Partners’ most common sectors for investment are software (24%) and medical products (16%). The Firm’s most common investment types include buyout (lbo, mbo, mbi) (47%) and growth capital (21%). In total, Riverside Partners has invested in 19 US states.

In the last 3 years, Riverside Partners has exited 8 companies. The Firm’s most common exit type is trade sale (45%). Riverside Partners’ largest (disclosed) exit occurred in 2011 when it sold Vocollect for $190M.

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M&A Summary

  • M&A Total Activity65
    • M&A Buy Activity38
    • M&A Sell Activity27
  • Total Sectors Invested 16
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 20
  • M&A Advisors 1

Riverside Partners LLC

699 Boylston Street, 14th Floor,
Boston, Massachusetts 02116
United States
(617) 351-2800
www.riversidepartners.com
info@riversidepartners.com

Riverside Partners is a specialist private equity firm focused on investments in healthcare and technology companies located in North America. The Firm has a particular interest in companies that are founder or family owned. Target companies generally have sales between $10 and $200 million and EBITDA between $5 and $25 million. 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 with an additional office in Irvine, California.


Investment Criteria

Sectors of Interest: Business Services, Communications, Education, Electrical Equipment, Electronics, Energy Services and Equipment, Healthcare Services, Information Technology, Manufacturing, Medical Products, Renewable Energy, Software, Staffing, Technology Hardware, Test/Measurement Equipment

Target Transaction Types: Buyout (LBO, MBO, MBI), Divestiture, Growth Capital, Recapitalization, Stake Purchase

Geographic Preferences: East US, Midwest US, South US, West US, Canada

Transaction Criteria Min Max
Target Revenue 10 200
Target EBITDA 5 25
Investment Size 10 100
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '15 '16 '17 '18 '19 '20 T
Buy (1.4/yr) # 31 1 3 - 1 2 38
Sell (2.0/yr) # 17 2 4 2 2 - 27
vol $527M $527M
  65

Most Recent M&A

Company Date Value Type
Syner-G Pharma Consulting LLC 2020-10-29 - Growth Capital
Southborough, Massachusetts · www.synergpharma.com
Red Nucleus Enterprises LLC 2020-03-04 - Secondary Buyout
Yardley, Pennsylvania · www.rednucleus.com
Calero Software LLC 2019-11-19 - Recapitalization
Rochester, New York · www.calero.com
3Play Media 2019-05-14 - Growth Capital
Boston, Massachusetts · www.3playmedia.com
HealthDrive Corp. 2019-01-03 - Secondary Buyout
Wellesley, Massachusetts · www.healthdrive.com
Eliassen Group LLC 2018-11-05 - Secondary Buyout
Wakefield, Massachusetts · www.eliassen.com
BioAgilytix Labs LLC 2018-11-02 - Secondary Buyout
Durham, North Carolina · www.bioagilytix.com
Gemcity Engineering and Manufacturing 2017-11-29 - Secondary Buyout
Dayton, Ohio · www.gemcity.com
Pilgrim Quality Solutions, Inc. 2017-10-16 - Unknown
Tampa, Florida · www.pilgrimquality.com
Pilgrim Quality Solutions 2017-10-16 - Add-on Acquisition
Tampa, Florida · www.pilgrimsoftware.com
View All >>

Portfolio M&A

Company Acquired Add-On/Sale Date #
Red Nucleus Enterprises LLC 2020-03-04 VertMarkets, Inc. 2020-09-11 1
Yardley, Pennsylvania · www.rednucleus.com Horsham, Pennsylvania · www.lifesciencetraininginstitute.com
Calero Software LLC 2019-11-19 Market Data Services Ltd. 2019-11-19 1
Rochester, New York · www.calero.com Tunbridge Wells, United Kingdom · www.mdsl.com
Openforce 2015-06-10 Flexible Workforce LLC 2019-04-30 1
Phoenix, Arizona · www.oforce.com Brentwood, Tennessee · www.flexibleic.com
Loftware, Inc. 2014-07-22 Gap Systems Ltd. 2018-03-07 1
Portsmouth, New Hampshire · www.loftware.com Leeds, United Kingdom · www.gapsystems.net
Stinger Medical 2013-01-01 EnovateIT LLC 2013-07-09 1
Murfreesboro, Tennessee · www.stingermedical.com Murfreesboro, Tennessee · www.enovatemedical.com

M&A by Sector

Sector Current # Value All-time # Value
Software 3 (23%) - 9 (23%) -
Medical Products 1 (8%) - 6 (15%) -
Healthcare Services 3 (23%) - 5 (13%) -
Manufacturing - - 3 (8%) -
Technology Hardware - - 3 (8%) -
Communications - - 2 (5%) -
Life Science 1 (8%) - 2 (5%) -
Education 1 (8%) - 1 (3%) -
Financial Services 1 (8%) - 1 (3%) -
Information Technology 1 (8%) - 1 (3%) -
Insurance 1 (8%) - 1 (3%) -
Packaging - - 1 (3%) -
Renewable Energy - - 1 (3%) -
Semiconductors 1 (8%) - 1 (3%) -
Staffing - - 1 (3%) -
Test/Measurement Equipment - - 1 (3%) -
Total 13 - 39 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 13 (100%) - 39 (100%) -
  Massachusetts 2 (15%) - 6 (15%) -
  New York 1 (8%) - 4 (10%) -
  Florida - - 4 (10%) -
  Pennsylvania 2 (15%) - 3 (8%) -
  New Jersey 2 (15%) - 3 (8%) -
  New Hampshire 1 (8%) - 3 (8%) -
  Tennessee 2 (15%) - 2 (5%) -
  Maryland - - 2 (5%) -
  Connecticut - - 2 (5%) -
  Rhode Island 1 (8%) - 1 (3%) -
  Kentucky 1 (8%) - 1 (3%) -
  Arizona 1 (8%) - 1 (3%) -
  Vermont - - 1 (3%) -
  Ohio - - 1 (3%) -
  North Carolina - - 1 (3%) -
  Illinois - - 1 (3%) -
  Georgia - - 1 (3%) -
  California - - 1 (3%) -
  Alabama - - 1 (3%) -
Total 13 - 39 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Buyout (LBO, MBO, MBI) 6 (46%) - 18 (46%) -
Growth Capital 3 (23%) - 8 (21%) -
Secondary Buyout 3 (23%) - 7 (18%) -
Stake Purchase - - 3 (8%) -
Recapitalization 1 (8%) - 2 (5%) -
Consolidation - - 1 (3%) -
Total 13 - 39 -

Exits by Deal Type

Type Total # Value
Secondary Sale 10 (37%) -
Trade Sale - Public Company 9 (33%) 366M (69%)
Trade Sale 4 (15%) 162M (31%)
IPO 1 (4%) -
Merger 1 (4%) -
Recapitalization 1 (4%) -
Unknown 1 (4%) -
Total 27 $527M

Top M&A Advisors

Legal Deals
Choate Hall & Stewart LLP
7

Deal Values

sell # Total
$100M to $1B 1 $190M
< $100M 4 $337M
TOTAL $527M
Largest Vocollect, Inc.
$190M (2011-01-18)

M&A Connections

Deals %
Acquired from
PE Firm(s)
100%
9 100%
Exited to
PE Firm(s)
57%
17 57%
Strategic(s)
43%
13 43%

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