Middle market private equity firm the Riverside Co. has acquired Global Orthopaedic Technologies for an undisclosed amount.
Global Orthopaedic manufactures and distributes othopaedic implants for hip, knee, shoulder and spine surgeries. The company has research, design and manufacturing facilities in Bella Vista and Seven Hills in New South Wales, Australia.
Riverside partnered with Andrew Fox-Smith, former group president at Stryker Corp., who will act as CEO, and Duncan Lilley, formerly of British Standards Institution, who will serve as COO. Babson Capital and Commonwealth Bank of Australia provided financing for the deal. Jones Day, Deloitte, KPMG and AT Kearny advised Riverside on the transaction.
The firm has made several health care investments, including ActivStyle and DentalPlans.com. Riverside generally invests in businesses that are valued up to $250 million. The firm has completed more than 340 transactions since it was founded in 1988. Riverside's co-CEO's won Mergers & Acquisitions M&A Mid-Market Dealmakers of the Year award for 2013, and the firm won the M&A Mid-Market Private Equity Firm of the Year for 2012, when it completed its 300th transaction. For more with Riverside, see our video interviews with co-CEO Stewart Kohl "LPs Need the Outperformance Private Equity Provides, says Riverside's Stewart Kohl" and "2014 Marks First 'New-Normal' Year."
Riverside's recent transactions include an investment in BeneSys Inc., which provides third-party administration services for employee health care and pension benefit programs, and an investment in Harvey Tool Co. LLC, which sells specialized cutting tools.