The Riverside Company, a global investment firm focused on the smaller end of the middle market, has invested in Workbench International (Workbench). Workbench is a mission-critical, vertical SaaS platform purpose-built for project-based construction industries - primarily civil infrastructure contractors, with adjacencies across trade contractors, engineering firms and builders. The product is a modular, cloud-based project management and job-costing platform that supports financial control, project execution and reporting.
This milestone transaction marks Riverside Australia’s 50th investment, after the local team recently celebrated 15 years of successful operations in the region.
Founded in Auckland and now serving approximately 400 customers across ANZ, Workbench has grown to be a mid-market leader in the category. With Riverside’s investment, Workbench is expected to continue investing in product development, expand its commercial capabilities and pursue AI transformation that streamlines operational workflows and enhances customer project outcomes.
We see significant opportunity to build on Workbench’s strong position within the construction and infrastructure sector,” said Riverside Partner Nicholas Pejnovic. “What attracted us to the business is how deeply embedded the platform is in clients’ day-to-day operations and the important role it plays in helping clients to achieve their commercial goals. Looking forward, we believe the platform is well-placed to benefit from AI in ways that will really enhance value for Workbench clients.”
Workbench is another example of Riverside’s dedication to the Software & IT industry. The firm has completed more than 300 investments in this specialisation and has a team of global experts dedicated to growing these companies.
“Workbench represents the type of platform Riverside looks to back: a mission-critical solution with strong value proposition, meaningful but underpenetrated market opportunity and an exciting growth plan,” said Riverside Partner Kevin Xu. “Construction businesses are navigating rising input costs and increasing project complexity, and Workbench gives them real-time visibility and financial control to maintain profitability."
Clive Gardner, Founder and CEO at Workbench, said: “After more than four decades building Workbench, finding the right partner to support the business on the next phase of its growth was important both personally and professionally. Riverside brings an impressive track record of growing software businesses globally, backed by genuine operational expertise. I'm thrilled about the benefits for both our clients and staff. This is an opportunity for Workbench to become a truly global, AI-enabled platform in an industry that is evolving faster than ever.”
Working with Pejnovic and Xu on the transaction for Riverside were Principal James Elsom, Vice President Paul Tran, Associate Lucas Froude and Senior Operating Partner Ed McManus.