Riverside Looks to Increase Bandwidth at Winxnet
Firm Invests in IT and Consulting Company
The Riverside Company has invested in Winxnet, an IT consulting and outsourcing firm that helps small- to medium-sized businesses reduce costs and risk by designing automated solutions for their IT needs.
Portland, Maine-based Winxnet provides tailored strategic consulting and managed services, including identifying, purchasing, installing, configuring and supporting key IT infrastructure such as workstations, client ancillary devices, networking devices, cloud services, business applications, managed security services, backup and disaster recovery services as well as remote and field support teams.
“Winxnet’s solid infrastructure, respected reputation and proven track record of organic and inorganic growth provided a strong case for our investment,” said Riverside Managing Partner Loren Schlachet. “With its robust presence in its core markets and commitment to reducing risk through automated service delivery, we have immense potential to expand Winxnet’s already-successful reach.”
Riverside will work with Winxnet to enhance its sales function, lead generation capabilities, and continue to expand its automated service capabilities and help the company build on its product suite.
“From strategic plan development to tactical support, Winxnet truly is a one-stop shop for small- and medium-sized businesses in need of excellent IT support,” said Riverside Partner Brian Sauer. “The company has best-in-class operations and has developed proprietary software and processes that distinguish their services in the market. We’re excited to play an integral part in helping the organization reach its full potential.”
Building on its extensive experience in technology and its IT and software industry specialization, Riverside will also pursue add-on acquisitions to expand the product suite with new capabilities.
Working with Schlachet and Sauer on the deal for Riverside were Principal Brad Resnick, Senior Associate Joshua Smith, Operating Partner Rex Niles and Finance Director Gary Schlegel. Partner Jim Butterfield sourced the deal for Riverside and Principal Dan Haynes helped secure financing for the transaction.
Jones Day, Deloitte and West Monroe Partners advised Riverside on the deal. Crescent Capital Group provided funding for the transaction.