The Riverside Company has invested in Geroline Inc., a virtual manufacturer of footwear traction aids serving diverse industrial end-markets in Canada and the United States. Geroline is an add-on to Riverside’s SureWerx platform, a leading supplier of professional safety products, tools and equipment.
Geroline has transformed the ice cleat market over the last five years. Under the K1 brand, the company developed a unique ‘twist’ to the traction aid industry by providing a mid-sole ice cleat that can be easily rotated from the sole to the top of the footwear for easy outdoor to indoor or outdoor to in-vehicle transitions. Geroline also provides mid-sole traction aids that are certified Intrinsically Safe for use in hazardous and flammable environments. The simple yet effective nature of this product is revolutionizing the traction aid industry for every type of professional worker.
Geroline is SureWerx’s fourth add-on since Riverside acquired the platform in November 2018. Riverside is actively supporting SureWerx’s efforts to add complementary new products and categories and deliver best-in-class service to its growing, global network of loyal distributors and end-users.
Geroline’s K1 Series joins the SureWerx family of safety brands including Due North®, Jackson Safety®, Wilson®, Sellstrom®, Pioneer®, KneePro®, PeakWorks® and ADA Solutions®.
Working with Riverside Partner Brad Roberts and Riverside Principal Constantine Elefter on the deal were Senior Associate Tom Wyza, Associate Max Simon, Operating Partner Eric Nowlin and Operating Finance Executive Kyle Morse. Partner Anne Hayes helped secure financing for the transaction.
Golub Capital provided debt financing for the deal. Jones Day and Alvarez & Marsal supported the transaction as the legal counsel and accounting advisor, respectively. Aramar Capital Group acted as the financial adviser to Geroline.
