Riverside Updates Software Investment March 20, 2017
Firm Continues to Grow Competitive Edge Software Platform
The Riverside Company has acquired Information Technologies, Inc. (ITI), which will join the Competitive Edge Software platform. Based in St. Louis, ITI is a leading provider of software solutions that improve the safety of law enforcement officers, enhance officer efficiency and performance, and reduce the time required to report and respond to incidents.
“ITI provides a highly attractive, comprehensive, cloud-based software solution to its large and loyal customer base of law enforcement agencies,” said Riverside Managing Partner Loren Schlachet. “Through this acquisition, Competitive Edge Software has improved its market leading position as a provider of cloud-based public safety and security management software and services.”
ITI provides best-in-class software to law enforcement agencies which includes NIBRS reporting capabilities and a comprehensive set of modules including computer-aided dispatch, records management, jail management and court administration, as well as a variety of ancillary modules. ITI has focused exclusively on law enforcement agencies and has developed market leading solutions that enable these customers to perform their jobs more efficiently resulting in improved public safety.
“This acquisition extends Competitive Edge’s existing leadership position in the education, healthcare and corporate safety software markets into the law enforcement sector,” said Riverside Partner Joe Lee. “Overall public safety has never been higher on the global agenda than it is today, and we believe this new combined entity is a one-of-a-kind platform which can leverage its unique position across all end markets to accelerate innovation and improve customer success, while also helping to make the world a safer place.”
As it builds on a track record of more than 80 software investments, Riverside continues to seek complementary add-on acquisitions for Competitive Edge.
Working with Schlachet and Lee on the deal for Riverside were Vice President Steve Rice, Senior Associate Jason Thorn, Operating Partner Jonathan Temple and Finance Director Mark Pigott. Origination Principal Jim Butterfield sourced the deal for Riverside and Principal Dan Haynes helped secure financing for the deal.
Deepath Capital Management provided debt financing for the transaction. Jones Day provided legal counsel, Deloitte provided accounting diligence services and West Monroe provided technology diligence services for Riverside on the transaction.
The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 450 transactions. The firm’s international portfolio includes more than 80 companies.