Riverside Partners Concludes Successful 2020
Invests More Than $150 Million in Technology and Healthcare Businesses in 2020
BOSTON, Feb. 10, 2021 /PRNewswire/ -- Riverside Partners, a Boston-based private equity firm, announced today a review of its investment and portfolio highlights for the year ended December 31, 2020.
"We are pleased to have concluded a very successful year," said David Belluck, a General Partner of Riverside Partners. "Despite the pandemic environment, we completed five major transactions, deploying more than $150 million of capital, and realized two existing portfolio companies, which provided distributions to our institutional limited partners. In addition, we welcomed two additions to our senior management team with the promotions of David Del Papa and Craig Stern to General Partners, joining Steve Kaplan, Max Osofsky and myself as leaders of the firm. Looking forward, we have made progress in committing capital from our latest fund and remain well positioned to continue investing dry powder in growth-oriented companies in healthcare and technology."
Mr. Belluck continued, "The early part of 2020 saw us focus on supporting our existing portfolio companies through the uncertainties from the pandemic. Fortunately, our deep domain expertise in technology and healthcare operations combined with the experienced management teams helped us avoid any serious issues during those volatile times. We are pleased to report that all of our portfolio companies continue to operate well and are focusing on their growth strategies."
New Investments
Merger of Calero and MDSL – January 2020
Riverside Fund VI invested new equity capital into the merger of Calero Software, an existing portfolio company, and MDSL. The merger combined the number two and number three players in the technology expense management space. Read more.
Alarm Connections – September 2020
Riverside Fund V in partnership with the company's management team led a debt and equity recapitalization of the company.
Syner-G – October 2020
Riverside Fund VI acquired Syner-G Pharma Consulting in partnership with the Company's founders. Syner-G provides the full spectrum of Chemistry, Manufacturing, and Controls ("CMC") technical, regulatory and compliance consulting services to pharmaceutical and biotechnology clients. Read more.
Convergence Networks – November 2020
Riverside Fund VI funded the merger of Convergence Networks and Grade A, in partnership with the Companies' founders, forming a leading provider of managed IT and cybersecurity services to clients across a variety of industries. Read more.
Loftware – December 2020
Riverside Fund V portfolio company Loftware, the global leader in Enterprise Labeling and Artwork Management solutions, completed a strategic combination with NiceLabel, a leading developer of label management systems. Read more.
Realizations
Calero Software – January 2020
Riverside Fund V, in conjunction with the merger of Calero and MDSL, completed an equity and debt recapitalization of Calero which resulted in a distribution of twice its investment to Fund V investors and a significant rollover into the new combined company.
Allied Dental – November 2020
Riverside Fund IV completed the sale of Allied Dental, a leading dental services organization providing management services to dental practices in the Northeast and Mid-Atlantic. Allied was the last remaining portfolio company in Fund IV, a fund that had invested in ten technology and healthcare businesses. Read more.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the technology and healthcare industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. For more information, visit www.riversidepartners.com.
Riverside Partners Media Contact:
Andy Merrill or Nick Rust
Prosek Partners
(646) 818-9252
[email protected] / [email protected]
SOURCE Riverside Partners, LLC
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