M&A Deal Summary

Riverside Acquires Hiway Group

On September 20, 2018, private equity firm Riverside acquired engineering company Hiway Group from Direct Capital

Acquisition Highlights
  • This is Riverside’s 1st transaction in the Engineering sector.
  • This is Riverside’s 2nd transaction in New Zealand.
Investment Fate
  • Hiway Group was sold to a consortium of financial buyers in 2024.

M&A Deal Summary

Date 2018-09-20
Target Hiway Group
Sector Engineering
Buyer(s) Riverside
Sellers(s) Direct Capital
Deal Type Secondary Buyout

Target

Hiway Group

Auckland, New Zealand
Hiway Group provides solutions for road, rail and pavement stabilization, slip and slope reinforcement, soil mechanics, geotechnical design and contamination remediation. Hiway Group was founded in 1982 and is based in Auckland, New Zealand.

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Buyer(S) 1

Buyer

Riverside

New York, New York, United States

Investor Investor Investor Investor Investor


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 237 of 295
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 36 of 49
Country: New Zealand M&A 2 of 2
Year: 2018 M&A 10 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-03 Alchemy Systems

Austin, Texas, United States

Alchemy Systems LP is a training and educational technology company provides an innovative solutions that help food and retail companies engage with their workforces to drive productivity and safety. Alchemy Systems was founded in 2003 and is based in Austin, Texas.

Sell $480M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-04 Global Orthopaedic Technology Pty

Baulkham Hills, Australia

Global Orthopaedic Technology Pty Ltd. is the largest Australian-owned orthopaedic implant designer and manufacturer. Our mission is to engage with Australia’s finest surgeons, developing new and innovative products and solutions that meet the needs of both the surgeons and their patients.

Sell -

Seller(S) 1

SELLER

Direct Capital

Auckland, New Zealand

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1994
PE ASSETS 1.7B NZD
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Direct Capital is a private investment firm focused on private equity and venture capital investments in Australia and New Zealand. Direct Capital's later stage investment area looks to commit NZ$20 to NZ$80 million in companies with revenues up to NZ$300 million. Target sectors include retail, food, consumer products, healthcare services, distribution, life science, and manufacturing. Prospective transaction situations include successions, management buyouts, expansions, acquisitions, and pre-IPO placements. Direct Capital was formed in 1994 and is based in Auckland, New Zealand.


DEAL STATS #
Overall 17 of 18
Sector: Engineering M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 4
Country: New Zealand M&A 15 of 16
Year: 2018 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-08-20 Perpetual Guardian

Auckland, New Zealand

Perpetual Guardian is a provider of the full suite of estate planning services. Perpetual Guardian has offices nationwide, Perpetual Guardian was founded in 1884 and is based in Auckland, New Zealand.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-04 Exact Radiology Clinics

Chapel Hill, Australia

Exact Radiology Clinics is a provider of quality diagnostic imaging services including MRI, CT, ultrasound, x-ray, and nuclear medicine. Exact has grown organically to operate nine clinics and provide radiology reading services to a further four clinics and Ipswich Hospital in South East Queensland. Exact Radiology Clinics was founded in 2007 and is based in Chapel Hill, Australia.

Buy -