Investment Summary

Riverside and True North Equity Exits IFS Group

On January 1, 2022, invested in business services company IFS Group from Riverside and True North Equity

Investment Highlights
  • This is transaction in the Business Services sector.
  • This is transaction in the United States.
  • This is transaction in Michigan.

Investment Summary

Date 2022-01-01
Target IFS Group
Sector Business Services
Sellers(s) Riverside
True North Equity
Deal Type Unknown

Target

IFS Group

Birmingham, Michigan, United States
IFS Group is a holding company that provides non-discretionary industrial and field services supporting power generation and process industries.

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Seller(S) 2

SELLER

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 177 of 207
Sector: Business Services M&A 16 of 17
Type: M&A Deals 8 of 14
State: Michigan M&A 5 of 7
Country: United States M&A 126 of 146
Year: 2022 M&A 1 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-15 iCEV

Lubbock, Texas, United States

iCEV is a software as a service (SaaS)-based developer of digital curriculums and educational resources for the career and technical education market. iCEV was founded in 1984 and is based in Lubbock, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-01-18 Waste Services Group

Braeside, Australia

Waste Services Group provides diversified waste collection services to the Australian commercial and industrial sectors, utilizing front-lift waste removal trucks to collect customer waste streams and providing national broker and account management services for commercial and industrial customers with multi-site and complex waste collection requirements. Waste Services Group was founded in 2016 and is based in Braeside, Australia.

Sell -
SELLER

True North Equity

Birmingham, Michigan, United Kingdom

Category Private Equity Firm
Founded 2008
Size Small
Type Sector Focused
DESCRIPTION

True North Equity is a private equity firm focused on control investments in energy services companies. True North seeks medium-sized companies located throughout the US and Canada with $5 to $50 million of EBITDA. The Firm's specific area of interest is companies involved in cleaning, maintenance, repair, or other services in support of refineries, petrochemical and power plants, and oil and gas production. True North prefers to invest in 'healthy' businesses, but will consider select underperforming situations. True North Equity is based in Birmingham, Michigan.


DEAL STATS #
Overall 3 of 3
Sector: Business Services M&A 1 of 1
Type: M&A Deals 1 of 1
State: Michigan M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-02-15 Culy Contracting

Winchester, Indiana, United States

Culy Contracting is a full-service, value-added civil construction, excavation, and maintenance specialist for power and gas transmission and distribution projects. Culy Contracting was formed in 1978 and is based in Winchester, Indiana.

Sell -