The Riverside Co. has agreed to sell hematology equipment maker Diatron Group to Germany’s Stratec Biomedical Group, as the PE firm continues to exit portfolio companies. Riverside won Mergers & Acquisitions’ 2015 Seller of the Year for exiting seven investments and making it one of the most frequent sellers of companies in the middle market.

Diatron, founded in 1989, produces hematology analyzers. Riverside says Diatron has grown significantly under the firm’s ownership through new products and geographic expansion. In 2008, Diatron, based in Budapest, Hungary, acquired another hematology analyzer producer in Metrolab.  Riverside invested in Diatron in 2005. “These and other operational efforts, helped Diatron more than triple its turnover since Riverside’s acquisition,” says Riverside operating partner Fabio Pesiri. Stratec, located in Birkenfeld, Germany also makes testing and other medical equipment.

In 2015, Riverside sold Emergency Communications Network (ECN) to Veritas Capital. The Cleveland-based firm also sold Orliman, a Valencia, Spain-based manufacturer and distributor of non-invasive orthopedic devices, to Magnum Capital. Lincoln International and Allen & Overy are advising Riverside on the Diatron Sale.