Béla Szigethy, co-chief executive officer, declined to comment on the fees proposed by the fund, as did an investment officer with The
In June, the firm made its first acquisition with the fund, buying ITEL Laboratories, a Jacksonville, Fla.-based independent tester for determining the fair-market replacement value of damaged products. Riverside acquires businesses in a variety of industries, including automotive, business services, food, health care, manufacturing, media and technology.
The firm has specialized in the smaller end of the middle market since 1988 and has done more than 193 deals with a total enterprise value of $3.4 billion. In 2006, the company did 26 acquisitions; in 2007, 28 deals were completed; and so far this year, Riverside has finalized 19 deals.
The company has a senior professional staff of 22 and over 170 other professionals in seven offices in the United States, as well as bureaus in Amsterdam, Brussels, Budapest, Madrid, Munich, Prague, Seoul, Stockholm, Tokyo and Warsaw. Its current portfolio in the U.S., Europe and Asia totals 62.
Riverside’s last general buyout fund, Fund V’s predecessor, was the $750 milion