Riverside Delivers Message With Latest Acquisition May 10, 2010
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RMCF II Makes First Investment, Purchases E-mail Marketing Company
6th Riverside Acquisition of 2010
229th Acquisition Overall
Riverside Micro-Cap Fund
Mansell Group (Mansell)
Based in Atlanta, Georgia
- Founded in 2000.
- Provides web-based e-mail technology-enabled marketing through software-as-a-service platform.
- Products allow companies to create, send, and track marketing materials.
- Mansell helps customers by ensuring deliverability of important messages in compliance with federal Can Spam legislation, while providing advanced data management, tracking and analytics.
Mansell offers not only exceptional e-mail marketing capabilities, it also provides SMS mobile marketing, broadcast voice messaging, database management, customer intelligence, and online lead generation services to complement its complete professional services group. The company has more than 250 corporate and non-profit clients in a variety of industries, including AirTran Airways, AARP, National Education Association, Payless Shoe Source, and Thomson Corporation, among others.
E-mail marketing is a highly cost efficient marketing channel, with rapidly growing rates of adoption. Compared to direct mail, e-mail marketing provides approximately triple the response rate for 10% of the cost. Industry sources estimate the return on e-mail marketing campaign investments to be more than $50 per marketing dollar spent.
Mansell is the first investment funded from Riverside Micro-Cap Fund II.
Loren Schlachet, Riverside Managing Partner:
“We see a lot of growth potential in Mansell, both via add-on acquisition and through enhanced sales. Mansell provides an outstanding service, and we believe we can deepen existing relationships while building new ones.”
Allen Nance, Mansell President and Founder:
“Riverside was an ideal fit for our growth plans. Their track record as a partner is impressive. We’re excited about the sales and marketing expertise they will bring to help us take Mansell to the next level.”
Ed Grenvicz, Mansell Chief Executive Officer:
“This is a really exciting time for our company. We’re confident we will continue to offer the most innovative electronic marketing services in the industry while partnering with Riverside to expand our customer base and deepen our existing relationships.”
Loren Schlachet, Managing Partner; Ron Sansom, Managing Partner; Alan Peyrat, Vice President; Dave Pecore, Finance Director; Dan Haynes, Associate; and John McKernan, Analyst. Jim Butterfield, Principal based in Atlanta and part of Riverside’s Origination team, sourced the opportunity.
Fifth Street Capital provided financing. Jones Day was the legal advisor. RSM McGladrey provided financial due diligence. VRA Partners was the sell-side M&A advisor.
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 $200 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 228 transactions with a total enterprise value of $5.0 billion/€4.2 billion. The investment portfolio in North America, Europe and Asia includes 72 companies with annual sales totaling $3.3 billion/€2.5 billion, EBITDA of $506 million/€384 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/€2.4 billion in assets under management, its more than 180 professionals in 19 offices (Atlanta, Brussels, Budapest, Chicago, Cleveland, Dallas, Hong Kong, Los Angeles, Luxembourg, Madrid, Melbourne, Munich, New York, Prague, San Francisco, Seoul, Stockholm, Tokyo and Warsaw) and its longstanding relationships with partner lenders. According to Thomson Venture Economics, eight of Riverside’s nine mature funds rank in the top 25% of all funds (as of 30 June 2009). The firm’s investors include the world’s leading pension funds, endowments, funds of funds, insurance companies and banks.