R&D Altanova scores funding from Riverside Partners

Riverside Partners has made an investment in R&D Altanova, a provider of turn-key test interface solutions for the semiconductor sector. No financial terms were disclosed.

PRESS RELEASE

SOUTH PLAINFIELD, N.J. and BOSTON, April 2, 2015 /PRNewswire/ — Riverside Partners, a Boston-based private equity firm, announced today that it has completed an equity investment in R&D Altanova (“R & D Altanova” or the “Company”). R&D Altanova is the leading supplier of full turn-key interface solutions for the semiconductor industry.

“R&D Altanova is the leader in meeting the complex and mission-critical semiconductor testing needs of the world’s most demanding customers,” said David Belluck, a General Partner of Riverside Partners who will join the Company’s Board of Directors. “We are pleased to complete this investment and to partner with the Company’s talented and experienced management team in supporting their growth plan.”

“Riverside Partners’ experience investing in and growing leading semiconductor testing companies will prove invaluable as we grow to meet our customers’ needs,” said Jim Russell, President and CEO of R&D Altanova. “We were looking for a partner to assist us with our global growth plans and provide the financial means to allow us to expand our operations. This partnership with Riverside Partners will enable us to execute on those plans to continue to build the best in class global infrastructure and maintain our continued focus on innovation in the A.T.E. marketplace.”

About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.

About R&D Altanova
R&D Altanova is the leading provider of full turn-key test interface solutions specializing in Advanced Technology Printed Circuit Board Engineering, Design, Fabrication, and Assembly and Manufacturing Services. A family-owned and operated business for over forty years, R&D Circuits acquired Altanova in the fall of 2013 and changed the name to R&D Altanova. In April 2011, Guardian Capital Partners acquired an equity interest in R&D. The company has grown to four locations, with home base and interface board manufacturing in South Plainfield, NJ and assembly and elastomer operations in Allentown, PA; signal integrity and engineering and design engineering and sales services in San Jose, CA and a regional repair and engineering and sales office in Hsinchu, Taiwan.