Riverside Exits 5-Year Investment
July 7, 2010- Share:
The Riverside Company has sold Veritext, a provider of court reporting services, to Investcorp, generating a 5.1x gross cash-on-cash return. Madison Capital Funding provided the senior debt financing, and Oaktree Capital Management and PennantPark Investment provided mezzanine debt. Riverside was advised by Harris Williams & Co., while Marks Baughan & Co., Wyatt Partners, PriceWaterhouseCoopers and Gibson Dunn & Crutcher advised Investcorp. Riverside acquired Veritext in 2005.
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