Riverside adds partner in Australia
The Riverside Company has promoted Nicholas Speer, a principal in its Melbourne office, to partner.
He joined the firm in 2014, having spent nine years at Catalyst Investment Managers, latterly as an investment director. Before that he worked in corporate advisory at Greenhill Caliburn. During his time at Riverside, Speer has worked on deals such as Work Health Group and Learning Seat.
His appointment was announced alongside one other promotion and one new hire, in the firm's San Francisco and Dallas offices, respectively. Riverside has 18 offices globally and Melbourne is one of five in the Asia Pacific region, with Hong Kong, Seoul, Singapore and Tokyo.
The firm makes control and non-control investments in growing businesses, and in Asia it concentrates on family-founded or small corporate carve-outs across healthcare, education, software, specialty manufacturing and franchise-based companies. Riverside closed its second Asia fund at $235 million in 2014.
Both Learning Seat and Work Health Group are examples of industry consolidation plays. The former, bought in 2012, completed the bolt-on acquisition of fellow e-learning specialist C-Learning last year; the latter was formed last month through the merger of IPAR Rehabilitation - which Riverside bought in 2015 - and WorkFocus Group, another workplace rehabilitation and employment services provider.
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