Riordan, Lewis & Haden (RLH) has sold its portfolio company Bluewolf Group, a provider of cloud computing services based on the Salesforce.com platform, to IBM.
Bluewolf became Salesforce’s first consulting services partner in 2001 and today is considered to be one of Salesforce’s top tier consulting partners. The company has 12 offices and just more than 500 employees in the United States, Europe and Australia. Bluewolf is headquartered in New York (www.bluewolf.com). The Bluewolf team, including CEO Eric Berridge, will join IBM and become part of the company’s Global Business Services group.
International Business Machines (NYSE:IBM) manufactures and markets computer hardware, middleware and software, and offers infrastructure, hosting and consulting services in areas ranging from mainframe computers to nanotechnology. The company had revenues last year of $81 billion and is headquartered in Armonk, NY (www.ibm.com).
Riordan, Lewis & Haden invests in high growth, lower middle market companies that have revenues from $25 million to $150 million. Sectors of interest include business services, healthcare, and government services. The firm currently manages over $600 million of assets and is actively seeking new portfolio companies. Riordan, Lewis & Haden is based in Los Angeles (www.rlhequity.com).
© 2016 Private Equity Professional • Private Equity’s Leading News Magazine • 5-17-16