The Riverside Co. has announced the signing of a definitive agreement to acquire Dastex Reinraumzubehör GmbH & Co., a European distributor of cleanroom garments and consumables based in Germany.
Simultaneously, Riverside said it will acquire Swedish company Vita Verita as an add-on for Dastex. Hide Beard Shadow
Vita Verita is described as a specialist in cleanroom consumables and laboratory equipment, air quality testing, service and maintenance used by companies, hospitals and other controlled environments. The company offers both own-brand and third-party products including disposable garments, gloves and wipes, as well as qualified verification and validation services.
Financial terms of the deals were not disclosed.
Riverside Europe managing partner Karsten Langer highlights how the deals are at the crossroads of two sectors of focus for the private equity firm: health care and specialty distribution.
"By acquiring Dastex and Vita Verita, we combine two cleanroom consumables specialists in Europe, providing mission-critical products and services and forming the nucleus to our pan-European buy-and-build strategy," said Riverside Europe partner Damien Gaudin in a statement. "This creates a unique platform perfectly positioned to continue growing organically and via acquisitions."
Riverside is a global private equity firm co-headquartered in Cleveland and New York that invests in growing businesses valued at up to $400 million in the smaller end of the middle market.
Earlier this month, the firm closed its latest investment fund, Riverside Micro-Cap Fund (RMCF) VI, at $1.872 billion in investable capital.
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