The Riverside Company, a global private equity investor focused on the smaller end of the middle market, has signed a definitive agreement to acquire a majority stake in Montel AS (Montel), a founder and manager owned, Norwegian provider of energy and electricity market information.
Montel, headquartered in Oslo, is a niche market leader with an international footprint, providing energy and electricity market information for energy producers, grid operators, financial institutions, trading firms and industrial end-users. The company’s services are primarily delivered through its proprietary Montel Online platform on a subscription basis, covering energy market news and real-time and historical trading data.
Montel has one of the strongest suites of full-service energy information services in the market, enjoying high market shares in its key geographies, despite competing against some of the largest global information providers, due to its position as the only focused provider of power market information services.
Riverside will support Montel’s growth by upscaling the organization to capture share in a growing market, developing new products and services and driving geographic expansion. In addition, the group will pursue selective add-on acquisitions to broaden the analytical service offering.
The firm has also invested in CORE Higher Education Group, known for its leading solutions in student competency management, clinical education and workforce readiness within the higher education industry.
Founded in 2006, CORE today supports more than 375 programs at over 175 colleges and universities throughout the U.S. and Canada in the areas of recruiting, experiential / clinical education, competency assessment, workforce readiness and digital portfolios. The investment will enable CORE to accelerate its growth and continue building its suite of software applications to support students through the entire student journey.
Cianfarani and other members of the CORE management team will continue to be meaningful shareholders of the company and stay in their existing management roles.
Additionally, Riverside has completed another add-on to its Red Nucleus platform with an investment in Actando SA, a global learning organization that provides technology-enabled learning solutions to life sciences commercial teams that advance critical skills and capabilities across marketing, omnichannel, sales, key account management and market access. RN is prioritizing the development and launch of a unified, robust “essential skills” training offering and has brought in two acquisitions (including Actando) to further that ambition.
The addition of Actando brings the group a wide variety of learning, development and process management products, utilized by global commercial teams to upskill sales representatives and manage commercial operations and resources. This will help Red Nucleus to create a wider-ranging content library consisting of market-leading solutions and products. In addition, Actando significantly expands Red Nucleus’ European footprint (Actando is headquartered in Switzerland) and will further bolster its presence with global teams of blue-chip biopharma customers headquartered throughout the EMEA region.
Actando marks the third add-on Riverside has completed to Red Nucleus in 2022.
