Daily News: April 17, 2012

Riverside Adds Three, Promotes Three; Acquires Galaxy Associates

The Riverside Company continues to grow and enhance its capabilities, adding and promoting senior employees to support continuing growth around the world.

Riverside’s promotions of senior professionals include:

  • Matt Dailey to partner. Dailey joined Riverside as an associate in 2003, and has been a part of a number of successful Riverside deals, including CLC, Hardware Resources and Delta Petroleum, three successful realizations. Dailey is based in Cleveland.

  • Jon Kinney to managing director. Kinney started at Riverside in 2004, and leads the firm’s Strategic Analysis and Sourcing team, which provides research and analysis to Riverside LPs as well as the Riverside leadership team. Kinney’s group also manages the successful pooled purchasing program for Riverside portfolio companies. Kinney is based in San Francisco.

  • Sarah Roth to partner. Roth has been with Riverside for seven years, and has been involved with the acquisition or management of nine platform companies, including the CLC and Moss realizations and a number of well-performing investments in Riverside’s current portfolio. Roth is based in Dallas.

    Riverside has also added three key members to its global team:

  • Chief compliance officer Jennifer Boyce comes to Riverside from the law firm of Jones Day, where she was a partner. Boyce will lead Riverside’s compliance efforts as the firm meets greater regulatory and investor requirements. She is based in Cleveland.

  • Partner Martin Scott will work on investments at the firm’s newest office in London, which opened in 2011. He was previously partner and head of Operations at KPMG and has previous private equity and consulting experience.

  • Operating partner Steve Stubitz joined Riverside from American Capital, where he was lead partner in the Operations Group. He has prior industry experience with Hewlett-Packard, Brigade Corporation and Participate.com. He is based in Chicago.

    “Riverside is in the business of buying and building great companies and these six professionals will help us to do that even better,” said co-CEO Stewart Kohl. “Equally importantly, they exemplify the values of Riverside and will help us to continue to leave great references in our wake.”

    The Riverside Company also announced it has acquired Cincinnati-based Galaxy Associates as an add-on to another Queen City company in platform DuBois Chemicals. Both companies manufacture high-quality specialty chemicals and solutions. The companies are not merely geographically close; they share similar products and serve many of the same end markets.

    KeyBank, U.S. Bank, The Bank of Montreal, GE Capital and Tri-State Capital Bank provided financing, and Jones Day advised Riverside on the transaction.

    “Galaxy bolsters DuBois’ industrial metal finishing business while adding complementary capabilities to DuBois’ transportation and paper segments,” said Riverside partner Tim Gosline. “We expect customers of both firms to benefit from enhanced capabilities and a broader suite of products.”

    Galaxy is the fourth add-on that Riverside has completed for DuBois since its initial investment in 2008. Prior add-ons include Blendco, Perkins Products, and Mitco. The Galaxy acquisition is the eighth acquisition of 2012 for Riverside.

    Working with Gosline for Riverside on this transaction were principal Chip Walker, senior associate William DeLong and associate David Wynne. The transaction was sourced by Scott Gilbertson.

    The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $200 million.