Sale of Majority Equity Stake to Riverside Partners

Technology & Services
Sale of Majority Equity Stake to Riverside Partners

Summary

Baird served as the exclusive financial advisor to Eliassen Group

About

Riverside Partners (“Riverside”) recently completed a majority equity investment in Eliassen Group (“Company”), a portfolio company of Lineage Capital, LLC (“Lineage”). Terms of the transaction were not disclosed.

Eliassen Group was founded in 1989 and is headquartered in Wakefield, MA with five additional offices along the east coast. The company is composed of two divisions: Technology Staffing and eClinical Solutions. In its technology staffing division, Eliassen Group provides IT and software professionals to a blue chip group of clients across a range of industries, including healthcare, biopharmaceutical, financial services, government, education, manufacturing and software development. The Company's eClinical Solutions division specializes in providing data management services, EDC services, statistical programming, training, reporting, and strategic consulting solutions for pharmaceutical, biotechnology and medical device companies. With an active headcount of over 600, Eliassen Group is the leading IT staffing company in the Northeast. It has been recognized both as one of the "Best Places to Work" as well as one of the fastest growing private companies on the Inc. 5000 list for four consecutive years.

Lineage Capital is a Boston-based private investment firm investing exclusively in owner-managed and family-controlled businesses. Its unique partnership approach provides significant liquidity to committed business owners while enabling them to retain operating control and a meaningful investment in their companies. Lineage focuses on high quality, lower middle-market businesses with EBITDA of greater than $4 million that desire a value-added partner to facilitate their future growth and success. Lineage’s diverse portfolio includes consumer, industrial, service and distribution businesses.

Riverside Partners is a middle-market private equity firm currently focused on growth-oriented companies in the healthcare and technology industries. Riverside is experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 - $200 million and with $5 - $25 million of EBITDA.

For additional information about this transaction, please contact:

Bret Schoch (312) 609-4965
Les Cheek (617) 426-5789
Dan Alfe (312) 609-4922
Technology & Services
Sale of Majority Equity Stake to Riverside Partners
Date
December 2010
Company
Eliassen Group
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
North America

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