The Riverside Company’s Latest Investment Is Formulated for Success

The Riverside Company, a global investment firm focused on the smaller end of the middle market, has invested in Western Botanicals, a leading developer and manufacturer of vitamins, minerals and supplements (VMS) and a trusted partner for health and wellness brands.

Headquartered in Spanish Fork, Utah, Western Botanicals is a premier, full-service nutraceutical contract development and manufacturing organization (CDMO) serving more than 75 VMS brands across a diversified range of end use applications. With nearly three decades of experience, the company offers end-to-end formulation, manufacturing and packaging solutions across capsule, powder and liquid formats from its 140,000+ square feet of FDA-registered, cGMP compliant facilities with organic and NSF-certifications. Western Botanicals combines deep industry expertise with a solutions-oriented, customer-centric culture, delivering products rooted in innovation, quality and efficacy.

“As consumers increasingly invest in healthy lifestyles and prioritize preventive wellness, demand for high-quality supplements continues to grow,” said Brad Roberts, Co-Chief Investment Officer of Riverside’s Capital Appreciation strategy (RCAF). “Western Botanicals is well-positioned to capitalize on these market tailwinds, and we are excited to partner with the management team to build on the company’s strong momentum. Together, we aim to support continued organic growth, expand product and format capabilities and further establish Western Botanicals as a comprehensive solution for its customers.”

This investment aligns with Riverside’s health, longevity and flavor investment thesis, which focuses on businesses benefiting from long-term demographic, wellness and innovation trends. The firm has completed 46 platform investments in this specialization and has built a network of global experts dedicated to growing these types of organizations.

“Western Botanicals has strategically scaled operations and built a proven reputation for innovation and operational excellence,” said RCAF Principal Caroline Shettle. “We look forward to working with the team to continue to diversify the business across growing segments of the market.”

The current management team will retain a meaningful ownership stake in the business, reinforcing alignment around long-term value creation.

“We strive to partner with industry-leading nutraceutical brands through unmatched service, transparency and quality,” said Western Botanicals CEO Don Shaver. “Our partnership with Riverside will allow us to continue this mission through organic growth while simultaneously executing an M&A strategy to build best-in-class capabilities.”

Working with Roberts and Shettle on the deal for Riverside were Principal Harrison Petts, Senior Associate Armando Torres and Associate Love Patel. Origination Partner Cheryl Strom sourced this deal for Riverside and debt financing was secured by Senior Partner, Capital Markets, Anne Hayes.

William Hood & Company served as the exclusive financial advisor to The Riverside Company.