Riverside Not Sheepish About New Zealand Acquisition July 12, 2013
Animal Health Company is Riverside’s First Kiwi Investment
The Riverside Company has invested in Simcro Limited (Simcro), a Hamilton, New Zealand-based designer and manufacturer of animal health-delivery systems predominately used for production animals. Simcro’s customers are global pharmaceutical companies, which package Simcro’s devices to ensure end users can administer vaccines and other medications.
Simcro is Riverside’s first investment in New Zealand, though the firm has been active in the Asia-Pacific region since 2008. Simcro products are renowned for their design and usability, earning the company a clutch of international design awards. The company serves customers in Australia, Europe, North and Latin America and Asia.
“Simcro does an outstanding job of anticipating and meeting customers’ needs, and with Riverside’s global positioning, we will be working hard with the retained senior management team to extend their market reach,” said Riverside Partner Simon Feiglin. “The animal health industry is growing thanks to expanding demand globally, increasing safety concerns, and the increasing emphasis placed on the role of health and hygiene on farms.”
Simcro’s approach is comprehensive. The company designs, prototypes, field tests, produces and markets each of its dozens of products before working with pharmaceutical companies to package the devices and drugs together. The company’s products include applicators, injectors, specialized packaging and related items.
“We’re looking forward to deepening Simcro’s leading R&D capabilities and expanding sales across existing and emerging markets,” said Riverside Principal Brad Lynch. “Simcro will also benefit from Riverside’s international footprint and deep experience sourcing and selling in Asia and indeed across the globe.”
Working with Feiglin and Lynch on the transaction for Riverside was Senior Associate Jason Fulton, Operating Partner Brian Bunker and Senior Associate Jerry Lam. Westpac provided debt financing for the transaction. Oceanic Capital Partners introduced Riverside to the opportunity.
The Riverside Company
The Riverside Company is a global private equity firm focused on acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 310 transactions. The firm’s international portfolio includes more than 75 companies.