Riverside Partners has completed its investment in Loftware, a provider of labeling services. Over the past few years, Loftware has logged accelerated global market penetration, record sales and profitability.
Loftware is a labeling services provider that works with over 5,000 customers, across 25 major industries to meet their customer-specific, geographical and regulatory labeling requirements. The company’s software integrates SAP®, Oracle® and other enterprise applications to produce barcode labels, documents, and RFID Smart tags across the supply chain. Loftware is headquartered in Portsmouth, NH with additional offices in the UK, Germany, and Singapore (www.loftware.com).
“Loftware stands alone when it comes to meeting the high volume, complex, and mission-critical labeling needs of large, global companies,” said David Belluck, a General Partner at Riverside Partners who will join the company’s Board of Directors. “Although labeling is becoming more dynamic and regulated than ever, Loftware continues to innovate and deliver solutions that meet its customers’ labeling requirements throughout the supply chain. We are pleased to complete this investment and to partner with Loftware’s talented and experienced management team on the next phase of the company’s growth.”
“We are excited that Riverside Partners has recognized our market leadership and has chosen to partner with our growing company,” said Robert O’Connor, Jr. President and CEO of Loftware. “Riverside Partners’ experience investing in and growing leading enterprise software companies will prove invaluable as we continue to build on Loftware’s track record of high growth, further expand our global reach, and maintain our relentless focus on the enterprise labeling market.”
Riverside Partners invests in established and growing middle market healthcare and technology-oriented companies that have revenues from $20 million to $200 million and EBITDA’s from $5 million to $25 million. Riverside Partners is currently investing its fifth fund, Riverside Partners Fund V, LP, with $561 million of capital commitments. The firm was founded in 1989 and is based in Boston (www.riversidepartners.com).
“Loftware is uniquely positioned to take advantage of the vast and growing enterprise labeling market. The company’s innovative solutions, including Loftware Spectrum – the industry’s only 100% browser-based enterprise labeling application, its unrivaled services, and unparalleled support, offer a wealth of opportunity,” said Mr. Belluck. “Loftware has a long track record of growth that outpaces the market and sustained profitability; we look forward to accelerating Loftware’s momentum in the marketplace.”
Signal Hill served as financial advisor and Golenbock Eiseman Assor Bell & Peskoe and Bernstein Shur served as legal counsel to Loftware. Choate, Hall & Stewart provided legal counsel to Riverside Partners.
2014 PEPD • Private Equity’s Leading News Magazine • 7-21-14
