The Riverside Company Signs Definitive Agreement to Invest in Converge International

The Riverside Company, a global investment firm focused on the smaller end of the middle market, has signed a definitive agreement to invest in Converge International, a provider of employee mental health and wellbeing services across Australia and New Zealand. Completion of the transaction remains subject to regulatory approvals. Upon completion, Converge will join Riverside’s corporate health platform, Altius Group Holdings (Altius), a leading provider of employee health, wellbeing and occupational rehabilitation services in Australia.
 
Converge delivers a multi-service offering comprised of employee assistance programs, critical incident support, onsite mental health services, training & consulting and psychometric assessments. The company operates a B2B, employer-funded model and serves more than 2,000 active clients through its network of more than 1,500 clinicians across Australia and New Zealand.
 
“The proposed investment addresses a key market opportunity in employee mental health services,” said Riverside Principal Ash Sorrenti. “Converge's established presence and high-quality clinician network across Australia and New Zealand, together with its relationships with major corporations will expand Altius' geographic reach and client base.”                              
 
“Converge has built a highly regarded business with deep expertise in workplace mental health and employee wellbeing,” said Altius Group CEO Angela Elliott. “Following completion, we look forward to working with the Converge team to expand the support available to employers and their people, while preserving the trusted relationships and quality of care that underpin both organisations.”
 
“This agreement represents an exciting next stage for Converge,” said Converge International CEO Andrew Hume. “Altius shares our commitment to improving workplace mental health and wellbeing. Following completion, working together will allow us to build on the strengths of both organisations and provide a broader range of support to our clients and their people.”
 
This proposed investment in Converge is another example of Riverside’s dedication to the Healthcare industry. The firm has completed more than 220 investments in this specialisation and has a team of global experts dedicated to growing these companies. Its Australian team has completed over 30 healthcare transactions since its establishment in 2010.
 
Working with Sorrenti on the transaction for Riverside were Managing Partner Simon Feiglin and Associate Hannah Davies.