The Riverside Co. has invested in Winxnet, an IT consulting and outsourcing firm based in Portland, Maine. “Winxnet’s solid infrastructure, respected reputation and proven track record of organic and inorganic growth provided a strong case for our investment,” Riverside Managing Partner Loren Schlachet said in a statement. Riverside will work with Winxnet to enhance its sales function, lead generation capabilities, and continue to expand its automated service capabilities and help the company build on its product suite. “The company has best-in-class operations and has developed proprietary software and processes that distinguish their services in the market,” Riverside Partner Brian Sauer said in a statement. Riverside expects it will also pursue add-on acquisitions to expand the product suite with new capabilities. Working with Schlachet and Sauer on the deal for Riverside were:
- Principal Brad Resnick
- Senior Associate Joshua Smith
- Operating Partner Rex Niles
- Finance Director Gary Schlegel
Partner Jim Butterfield sourced the deal for Riverside and Principal Dan Haynes helped secure financing for the transaction. Jones Day, Deloitte and West Monroe Partners advised Riverside on the deal. Crescent Capital Group provided funding for the transaction.
