Tooth Be Told: The Riverside Company Makes Clean Exit

Firm Sells Team Technologies, a Manufacturer of Dental, Cosmetic and Medical Products

The Riverside Company, a global private equity firm, has sold its stake in Team Technologies Inc. to Clearlake Capital Group, L.P. (Clearlake). Tennessee-based Team Technologies is a leading custom design and manufacturing partner to many of the world’s leading brands in the dental, cosmetic and medical industries. Riverside invested in Team Technologies in 2012.

“We’re pleased with the progress that we were able to achieve with the Team Technologies platform over the last six years,” said Riverside Managing Partner Suzy Kriscunas. “Through both organic initiatives and add-on acquisitions, we expanded Team’s capabilities, provided access to new end markets and added new products to the already successful portfolio.”

Team Technologies executed multiple add-on acquisitions during Riverside’s investment period including Bootie Butler in 2014, a provider of disposable shoe covers and innovative automated shoe cover dispensers for industrial and medical applications; and DoseLogix in 2018, a metered dosage dispenser manufacturer serving compound pharmacies. Each of these investments and others leveraged Team Technologies’ core competencies, expanded the company’s capabilities and provided access to new products and end markets.

“In partnership with management, we accomplished many things during our hold period,” said Riverside Partner Ryan Richards. “We supported the company as it expanded its blue-chip customer base and strengthened existing partnerships, and we also made significant strategic investments in R&D, new product development and automation that will continue to drive growth in the future.”

Working with Kriscunas and Richards on this transaction for Riverside were Operating Partner George Benson, Vice President Jason Fulton and Senior Associate Harrison Petts. Partner Anne Hayes assisted with financing and Partner, Origination, Jim Butterfield sourced the initial deal.

William Blair, Jones Day and KPMG advised Riverside on the transaction.