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The Riverside Co. has exited Grace Hill after bolstering the SaaS-based training provider’s position during its hold. Riverside invested in the company that offers online training, credentialing and mystery shopping solutions for property managers in 2014, and helped it grow its core training business and expand product lines. While in the Riverside portfolio, Grace Hill:

  • More than doubled its sales and nearly tripled its EBITDA.
  • Consolidated multiple learning management systems into one comprehensive solution.
  • Devoted resources to sales and marketing to secure and retain blue-chip customers.
  • Improved the management team with key hires.
  • Sourced and helped integrate two add-on acquisitions, which delivered new customers, capabilities and reach, bringing the company’s customer count to more than 1,300 who manage 6.2 million housing units.

“We loved Grace Hill’s potential when we invested, and we worked hard with a great management team to achieve our goals,” Riverside Managing Partner Loren Schlachet said. “We focused on enhancing technology and course offerings to take the company to the next level.” Working with Schlachet was Partner Brian Sauer, Principal John McKernan, Senior Associate David Bao, Operating Partner Mike Eblin and Finance Director David Kralic. Raymond James, Jones Day and Deloitte advised Riverside on the transaction. Freeport Financial provided funding.