Riverside Looks On The Bright Side, Acquires Canadian Company
Specialty UV Illumination Company Joins Riverside
The Riverside Company has acquired the Life Sciences and Industrial Division of EXFO, Inc (NASDAQ: EXFO; TSE: EXF). The division, which will be renamed The Lumen Dynamics Group, Inc. (LDG), develops UV illumination and curing systems and is based in Mississauga, Ontario.
LDG specializes in developing high-intensity UV illumination and curing products, by leveraging a unique portfolio of patented technologies and processes that utilize arc lamp, radiometry and lightemitting diode (LED) technology. LDG’s products are used in a variety of applications, including illumination for microscopes, spot curing of adhesives in manufacturing processes, and curing of inks in digital printing. The company serves a wide range of customers in the life sciences, medical device manufacturing, electronics manufacturing and digital printing industries.
“LDG has enormous growth potential,” said Riverside Managing Partner Loren Schlachet. “The company has a culture of innovation, a unique patent portfolio, and a strong management team. Given our strong track record with corporate carve-outs like LDG, we expect to be able to grow the company both by expanding in its existing markets, and by introducing products into new markets.”
LDG’s X-Cite, Omnicure, Excelerate and Burleigh products enjoy strong brand recognition and a reputation for exceptional functionality and reliability. The company blends its patented technology and expertise with a deep understanding of the end markets it serves to create products that have a competitive advantage to other systems.
“LDG differentiates itself with a refined research and development process and core technology that drives the introduction of new products,” said Riverside Principal Jack Nestor. “The company has a history of innovation and a proven ability to respond quickly to market trends and demands, which meshes nicely with our ambitious plans. We look forward to working with LDG’s strong management team as we drive growth.”
Joining Schlachet and Nestor in completing the transaction were analysts Garret Thompson and John McKernan. The Riverside transactors were supported by their colleagues in Riverside’s operating group, Dan Colbert, Operating Partner, and Dave Pecore, Finance Director.
This is the 238th acquisition for Riverside and the 15th overall for 2010.
The Riverside Company
( www.riversidecompany.com or www.riversideeurope.com ) The Riverside Company is a global private equity firm focused on acquiring growing enterprises valued at up to $200 million (€200 million in Europe). The firm partners with strong management teams and enhances its investments through acquisitions and organic growth. Since its founding in 1988, Riverside has invested in 238 transactions with a total enterprise value of more than $5.4 billion/€4.4 billion. The firm’s portfolio in North America, Europe and the Asia Pacific region includes 73 companies with roughly 14,000 employees. Riverside completes acquisitions smoothly thanks to $3.4 billion/€2.7 billion in assets under management, more than 195 professionals in 19 offices, and longstanding relationships with partner lenders.
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