Veritas Capital is buying Emergency Communications Network from the Riverside Co. for an undisclosed amount.
ECN, headquartered in Ormond Beach, Florida, is a software-based mass notification system that allows the government and corporations to communicate with constituents about emergency situations.
New York and Cleveland-based Riverside has backed ECN since 2011, and used the company’s services to communicate with employees during Hurricane Sandy in 2012. Riverside made several add-on acquisitions to the company, including Dean Alert, in July, and DeltAlert, in 2013. Other purchases include: CityWatch of Bloomington, Minnesota; One Call Now's government outreach clients; Emergency Notification; and First Call. The firm won Mergers & Acquisitions M&A Mid-Market Seller of the Year Award for 2014 after making 19 exits.
Veritas, headquartered in New York, is a private equity firm that invests in government and commercial service providers. The firm’s other investments include aerospace business StandardAero, which it bought in May, and cybersecurity business BeyondTrust.
Kirkland & Ellis provided legal advice to Riverside, and William Blair acted as financial adviser. Skadden Arps Slate Meagher & Flom LLP advised Veritas on the deal.