UltraVolt manufactures standard, modified-standard, and custom high-voltage power supplies and systems for a variety of commercial, industrial, aerospace, and medical applications, using a portfolio of more than 10,000 application-specific product configurations. The company has more than 1,000 commercial and military customers. UltraVolt also provides systems integration and engineering services for its products. The company is headquartered on Long Island in Ronkonkoma, NY (www.ultravolt.com).
“It’s been a joy to build a great management team and grow UltraVolt,” said Riverside Managing Partner Loren Schlachet. “Through investments in new products and technology, we were able to help UltraVolt navigate the global financial crisis, then execute an aggressive growth and profitability plan during the second half of our hold period.”
During the term of its ownership, Riverside worked with UltraVolt to improve its research and development capabilities, professionalize its sales and management teams, and applied its operating resources to improve UltraVolt’s manufacturing processes.
“Among other improvements, we helped UltraVolt implement lean operating practices, improve its pricing strategy and expand internationally,” said Riverside Vice President Dan Haynes. “It all helped lead to solid results despite a challenging macroeconomic environment.”
The Riverside Company is a private equity firm focused on the smaller end of the middle market (“SEMM”). Riverside specializes in investing in SEMM companies (those valued up to $250 million) and partners with management teams to build companies through acquisitions and value-added growth. Since 1988, the firm has invested in more than 340 transactions with a total enterprise value of more than $6 billion. The firm’s current portfolio includes more than 70 companies. The Riverside Company is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
Working on the transaction with Mr. Schlachet and Mr. Haynes from Riverside were Operating Partner Dan Colbert and Assistant Vice President Garrett Monda. Origination Principal Amy Margolis helped facilitate the exit for Riverside.
Livingstone Partners (www.livingstonepartners.com) advised UltraVolt on the transaction.
2014 PEPD • Private Equity’s Leading News Magazine • 8-5-14