The Riverside Company has sold Trustwell, a food compliance software company, to TPG and The Rise Fund. Riverside acquired Trustwell in 2022 and built the business through product integration and an add-on acquisition.
Founded in 2000 by Gary Nowacki, Trustwell provides traceability, supplier compliance, labeling, and formulation tools that food manufacturers, brands, and retailers use to manage regulatory workflows. Trustwell supports more than 120,000 supplier locations globally. Katy Jones is CEO. The company is headquartered in Park City, Utah.
At Riverside, Loren Schlachet, Brian Sauer, Chris Shea, Alexander Abramovitz, Reece Quigley, and Steve Pogorzelski worked on the transaction. Riverside is headquartered in Cleveland. TPG is headquartered in Fort Worth.
William Blair served as financial advisor, and Jones Day provided legal counsel.
