Riverside Continues Expanding Offerings of Sage Holdings October 06, 2009
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Riverside Continues Expanding Offerings of Sage Holdings
Add-on of Bankruptcy Case Administrator Deepens Financial Communications Firm
Deal Type: Add-on Acquisition
Key Stats: 11th Riverside Acquisition of 2009; 219th Acquisition Overall
Fund Family: Riverside Europe Fund III (“REF III,” €320 million)
Donlin, Recano & Company, Inc. (“DRC”)
Based in New York City with an office in Chicago, Illinois
• DRC’s services include pre-Chapter 11 filing preparation, Chapter 11 noticing solutions, claims management, balloting and distribution services. DRC also provides information support services to committees of unsecured creditors appointed in Chapter 11 cases.
• Joins international stable of financial communications and stakeholder management firms that make up Sage Holdings.
• Uses proprietary technologies to guide clients through the bankruptcy process, supported by professionally staffed call centers and extensive web-accessible information.
The transaction expands Sage’s service offerings into the highly specialized field of bankruptcy claims administration and provides the company with a platform to expand its value-added bankruptcy services offering. Through its various business units, Sage also offers financial communications, investor relations communications, proxy solicitation, and capital markets intelligence services. The acquisition of DRC provides Sage immediate access to an industry with high barriers to entry, while providing DRC’s clients access to the investor and creditor identification, financial communications and vote solicitation services that Sage provides.
Kai Köppen, Riverside Partner:
“We are delighted to bring an exceptional company like Donlin Recano into the Sage family. DRC is one of a small handful of specialists dedicated to its niche. We are excited about gaining access to the market that DRC serves, and eager to tap DRC’s already significant growth potential in this expanding industry.”
Dr. Oliver Niedermaier, Sage President and CEO:
“With this acquisition, Sage Holdings has extended its offering to include the full range of services required by companies at all stages of the bankruptcy process. This is a high-growth area for our business.”
Kai Köppen, Partner; Peter Schaberger, Principal; Michael Weber, Vice President; Justin Kent, Associate.
Jones Day, Deloitte & Touche
The Riverside Company (www.riversidecompany.com or www.riversideeurope.com)
The Riverside Company is a global private equity firm focused on acquiring leading small and medium-sized enterprises (with a value of up to $150 million) and partnering with strong management teams to enhance the success of its companies through acquisitions and organic growth. Since its founding in 1988, the firm has invested in 219 transactions with a total enterprise value of $5.0 billion. The investment portfolio in North America, Europe and Asia includes 69 companies with annual sales totaling $3.3 billion, EBITDA of $506 million and more than 13,000 employees (June 2009). Riverside offers the resources to complete acquisitions smoothly - thanks to its more than $3.0 billion in assets under management, more than 180 professionals in 18 offices (Atlanta, Brussels, Budapest, Chicago, Cleveland, Dallas, Eindhoven, Hong Kong, Los Angeles, Madrid, Munich, New York, Prague, San Francisco, Seoul, Stockholm, Tokyo and Warsaw) and its longstanding relationships with partner lenders. According to Thomson Venture Economics, seven of Riverside’s nine mature funds rank in the top 25% of all funds (as at 31 December 2008). The firm’s investors include the world’s leading pension funds, endowments, funds of funds, insurance companies and banks.
Donlin Recano (www.donlinrecano.com)
DRC has worked with more than 200 clients in its more than 20-year history, customizing solutions that help clients prepare for a successful restructuring. As Chapter 11 specialists, DRC builds its successful approach on the experience of having completed more than 1,000 cases, a passion for excellent customer service, and industry-leading technology that leads to fast and effective solutions.