Riverside Partners has completed its acquisition of a majority equity interest in AMCAD, an enterprise software company serving the public sector including state, county and local governments.
AMCAD provides software services to the broader government system including courts, jails, prosecutors, probation, parole, county clerks, recorders offices, and other government offices. The company’s current product offerings include an integrated justice platform, a platform for government records and document management, and various data access technologies. AMCAD has a national customer base with over 1,000 government clients in over 38 states. The company is based in Herndon, VA (www.AMCAD.com).
“We are pleased to partner with AMCAD at this exciting time and bring with us with the capital and resources to assist in executing AMCAD’s growth strategy,” said Ian Blasco, a General Partner at Riverside Partners. “AMCAD is an outstanding company that is in front of significant opportunity, and CEO Visagar Shyamsundar and his team are well positioned to capture additional market share across the various government markets. AMCAD’s proven track record, outstanding suite of software products and services, and industry focused approach to enterprise solutions will continue to drive greater success going forward.”
Riverside Partners invests in established and growing middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDA’s from $5 million to $25 million. Riverside Partners is currently investing its fifth fund, Riverside Partners Fund V, L.P., with $561 million of capital commitments. The firm was founded in 1989 and is based in Boston (www.riversidepartners.com).
“I am incredibly excited to have Riverside Partners join with me and my team at AMCAD in our efforts to invest in our products to better serve our customers and to continue to grow AMCAD into an even more successful company,” said Visagar Shyamsundar, Chief Executive Officer of AMCAD. “Our demonstrated expertise within the public sector through our records and data management solutions and our justice software platform has established AMCAD as the preferred vendor for government customers. I am confident that, with Riverside Partners, AMCAD will be even better positioned to serve our customers, broaden our sales coverage, and accelerate the pace of innovation and development of our already market leading technology solutions to the government services sector.”
© 2013 PEPD • Private Equity’s Leading News Magazine • 9-19-13
