The Riverside Co. has invested in Germany-based Evint, a workforce management software provider. The investment is an add-on to Riverside Europe’s GermanPersonnel platform. This is the platform’s second add-on, having invested in Compana, a German provider of recruitment software solutions in 2019.
Adding EVINT to the group is in line with the combined strategy of establishing the leading end-to-end workforce management platform focused on simplifying and accelerating the cooperation between both workforce service providers and end-customers.
The firm has also invested in Life Sciences Training Institute (LSTI), a provider of on-demand and customized compliance training courses for the pharmaceutical, biotech and medical device industries. LSTI courses offer a wide range of compliance topics covering the entire drug development lifecycle.
LSTI is an add-on investment to Riverside’s platform Red Nucleus Enterprises LLC, (RN), a premier provider of learning and compliance solutions for the life sciences industry. This is RN’s second add-on acquisition, having invested in Pyxa Systems in early April. LSTI, with an online subscription library of over 200 courses, will become part of RN’s rapidly growing R&D business, delivering unrivaled capabilities in a broad array of services, including compliance with Global and Regional Health Authority requirements throughout the drug lifecycle.
Further, The Riverside Company’s private credit fund, Riverside Credit Solutions (RCS), has provided Black Rock Coffee Holdings a senior secured lending facility for its roll-up of franchise stores and new store expansion. Black Rock is headquartered in Bend, Oregon, and is the franchisor or owner and operator of 70 drive-through coffee stores located in Oregon, Washington, Idaho, Nevada, California, Colorado, Texas and Arizona. The company also owns two coffee bean roasting facilities, its own branded energy drink and provides its locations with breakfast and other food-related items through its bakery operations.
This marks the seventh investment for RCS this year, bringing the total number of portfolio investments to 18.