RiverGlade Closes First Fund
Search

RiverGlade Closes First Fund

RiverGlade Capital has held a final above-target closing of its inaugural fund, RiverGlade Capital LP, with $325 million of capital commitments.

RiverGlade was founded by its managing partners Garrick Rice and Danny Rosenberg in February 2017. Prior to founding, both Mr. Rice and Mr. Rosenberg were managing directors at Sterling Partners where they co-led the firm’s healthcare services investing practice. Mr. Rice joined Sterling Partners in 2001 and Mr. Rosenberg joined the firm in 1999.

RiverGlade makes control and minority investments of $20 million to $80 million in growth-oriented healthcare services companies with enterprise values from $25 million to $150 million. Within healthcare services, areas of specific interest to RiverGlade include multi-unit care models, outsourced services, tech-enabled services and medical products.

RiverGlade currently has three portfolio companies:

  • CityVet, a Dallas-based provider of veterinary hospital services and pharmacy, boarding and grooming services with 14 offices in Texas and Colorado (acquired in April 2019);
  • Kids Care Dental & Orthodontics, a Rancho Cordova, CA-based (near Sacramento) provider of pediatric and orthodontic dental services through 15 offices located throughout Northern California (acquired in December 2018); and
  • US Oral Surgery Management, an Irving, TX-based management services company to the oral surgery sector with 17 partner practices across Texas, Colorado, Georgia, Tennessee and Minnesota that represent 69 oral surgeons at 51 locations (acquired in August 2018).

Other members of the RiverGlade team include three vice presidents – Natalie Greene (ex-Sterling), Marc Perez (ex-Sterling), and Dan Skowronski (ex-The Edgewater Funds); two associates – Alex Baran (ex-Brentwood Capital) and Colin McBride (ex-Piper Jaffray); Chief Financial Officer Mark Pridgeon (ex-GTCR), and Operating Partner Jim Hudak (the former chief executive officer of Paradigm Outcomes, a California-based healthcare services company).

RiverGlade is headquartered in Chicago.

© 2019 Private Equity Professional | October 17, 2019

To search in site, type your keyword and hit enter