Spectrio, a portfolio company of The Riverside Company, has acquired Vital Media. This is the third add-on completed by Riverside since acquiring Spectrio in October 2014 from SJ Partners.
Vital Media provides telephone-based on-hold marketing services, and digital signage services at both point of purchase and on waiting-room media equipment. The company specializes in the automotive sales and automotive services markets such as repair shops and tire stores. Vital Media has annual revenues of approximately $2.7 million and 1,700 customers. The company was founded in 1998 and is based in Charlotte (www.VitalMedia.com).
“The addition of Vital Media strengthens Spectrio’s position in the automotive space, where we anticipate continued growth,” said Riverside Partner Peter Tsang. “Spectrio offers a compelling value proposition to its customers and we are pleased with the progress we’ve made in expanding the company and its capabilities.”
Spectrio completed its first add-on acquisition with the buy of Rowley, MA-based Sound Marketing Concepts in March 2015 (www.soundmarketingconcepts.com) and acquired Greensboro, NC-based Message On Hold Plus in April 2015 (www.mohplus.com). Riverside will continue working with Spectrio to further expand the company through organic growth and more add-ons.
Working with Mr. Tsang on the transactions for Riverside were Partner Chris Jones, Senior Associate Max Moehlmann, Associate Linda Xu and Operating Partner George Benson.
The Riverside Company invests in businesses valued at up to $300 million. Since its founding in 1988, Riverside has invested in more than 410 transactions. The firm’s international portfolio includes more than 80 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
Here’s a video explaining more of what Vital Media does.
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© 2016 PEPD • Private Equity’s Leading News Magazine • 1-20-16
