The Riverside Company has sold its stake in Emergency Communications Network (ECN) to Veritas Capital. Financial terms weren’t announced. Ormand Beach, Florida-based ECN provides a SaaS-based mass notification solution that allows government and commercial clients to communicate with constituents. William Blair advised on the transaction.
The Riverside Company has sold its ownership stake in Emergency Communications Network (ECN) to Veritas Capital. ECN’s SaaS-based mass notification solutions allow government and commercial clients to rapidly communicate with constituents across a multitude of channels, facilitating awareness of emergencies and other important events. The company, based in Ormond Beach, Florida, serves a diverse national customer base of state and local governments, first responders, public utilities, and private businesses.
After investing in ECN in 2011, Riverside expanded the company considerably through both organic growth and the integration of six highly accretive add-on acquisitions. These efforts extended ECN’s leadership position in the government emergency mass notification market and expanded its presence into the rapidly growing commercial notification market.
“ECN has a great management team that shared our ambitious goals for the company,” said Riverside Partner Chris Jones. “Through successful organic and inorganic growth initiatives, we were able to build a company with improved scale, geographic reach, customer diversification and product capabilities. ECN thrived during Riverside’s ownership period.”
Riverside helped ECN grow sales 93% and EBITDA 112% during the hold period. ECN President David DiGiacomo was pleased with the outcome.
“Chris and the team at Riverside shared our vision for ECN and helped us better serve more customers in more markets than ever before,” said DiGiacomo. “We’re delighted with the results and excited about the next phase of our growth.”
Working with Jones on the transaction for Riverside were Vice President Brad Roberts, Operating Partner George Benson and Senior Associate Max Moehlmann. Riverside Origination Principal Amy Margolis worked with the deal team to facilitate the sale of the business.
Kirkland & Ellis provided legal advice to Riverside and William Blair served as financial advisor on the transaction.
About The Riverside Company
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $300 million. Since its founding in 1988, Riverside has invested in more than 390 transactions. The firm’s international portfolio includes more than 80 companies.