Riverside Partners has completed an equity investment in R&D Altanova, a provider of services and products used to test integrated circuits.
“R&D Altanova is the leader in meeting the complex and mission-critical semiconductor testing needs of the world’s most demanding customers,” said David Belluck, a General Partner of Riverside Partners. “We are pleased to complete this investment and to partner with the company’s talented and experienced management team in supporting their growth plan.”
R&D Altanova is a designer and manufacturer of advanced printed circuit boards used to test integrated circuits used in computers, servers, mobile devices and other applications. Major industries served include the semiconductor, telecom, aerospace, defense, medical and radio device markets. R&D Circuits acquired Altanova in the fall of 2013 and changed its name to R&D Altanova. The company has four locations, with its headquarters and interface board manufacturing located near New York in South Plainfield, NJ; assembly and elastomer operations in Allentown, PA; signal integrity and engineering and design engineering and sales services in San Jose, CA and a regional repair and engineering and sales office in Hsinchu, Taiwan (www.rdaltanova.com).
Riverside Partners invests in 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).
“Riverside Partners’ experience investing in and growing semiconductor testing companies will prove invaluable as we grow to meet our customers’ needs,” said Jim Russell, President and CEO of R&D Altanova. “We were looking for a partner to assist us with our global growth plans and provide the financial means to allow us to expand our operations. This partnership with Riverside will enable us to execute on those plans to continue to build the best in class global infrastructure and maintain our continued focus on innovation in the automated test equipment marketplace.”
© 2015 PEPD • Private Equity’s Leading News Magazine • 4-6-15
