The Riverside Company Breaks Ground with Latest Investment
Firm Invests in Australasia's leading Ground Improvement Services Provider, Hiway Group
The Riverside Company, a global private equity firm, is partnering with the Hiway Group (Hiway), a New Zealand-based ground improvement specialist that has been delivering innovative and environmentally friendly solutions since 1986.
Today, the company is New Zealand’s leading provider of specialist recycling solutions for road, rail and pavement stabilization, slip and slope reinforcement, soil mechanics, geotechnical design and contamination remediation. Hiway is leveraging this expertise with a fast-growing footprint in the larger Australian market.
“It’s an exciting time for us, partnering with a company like Hiway,” said Riverside Partner Steven Spiteri. “They’ve continually delivered high-quality, long-lasting solutions for more than 30 years, supporting the maintenance and construction of road, rail and other key infrastructure across Australia and New Zealand. That’s the kind of quality Riverside looks for when making investments - and we look forward to helping Hiway to continue to expand geographically and into adjacent market segments.”
This new investment is a further example of Riverside’s extensive experience within its Business Services industry specialization, adding to its more than 45 investments Riverside has made in this area over its own 30-year history.
“Hiway has a proven track record for innovation, environmental sustainability and industry leadership,” said Riverside Partner Nick Speer. “We look forward to partnering with the company’s impressive management team, led by John Boocock and Peter Metcalfe. As populations continue to grow in key cities across Australia and New Zealand (ANZ), companies like Hiway have an important role to play to support the major infrastructure investment requirements.”
Supporting Spiteri and Speer on the investment were Vice President Nicholas Pejnovic and Associate Ash Sorrenti.
BNZ, the incumbent lender to Hiway, provided debt financing for the deal. Russell McVeagh and Herbert Smith Freehills supported the transaction as legal counsel. KPMG Transaction Services and Deloitte advised on the deal.