The Riverside Company has acquired a majority stake in Oak Creek, Wisconsin-based Competitive Edge Software, a provider of security and law enforcement reporting and management solutions. No financial terms were disclosed. Deloitte was the financial adviser while Deepath Capital Management provided the debt financing for the transaction.
The Riverside Company has completed another software-as-a-service (SaaS) investment, taking a majority stake in Competitive Edge Software of Oak Creek, Wisconsin. Riverside is deeply experienced in the SaaS space and is confident it can help Competitive Edge Software, known for its Report Exec software suite, continue to grow its leadership position in the market.
Report Exec provides comprehensive cloud-based security and law enforcement reporting and management solutions to customers in a variety of industries including education, healthcare, corporate, private security and law enforcement.
“Report Exec truly understands the increasing demands on security and law enforcement officers and the increasingly cumbersome reporting requirements that are leading security departments to search for automated solutions. Report Exec is so effective and easy to use that customers are able to spend significantly more time focusing on their job,” said Riverside Managing Partner Loren Schlachet. “This increases the efficiency and effectiveness of a security department, lowers operating costs and enables compliance.”
Report Exec was founded in 1995 by Sean Mars, a former police officer who saw firsthand the reporting and compliance requirements of his collegues and the need for a comprehensive software solution to automate these processes. Since that time, Report Exec has invested heavily in product development to provide its customers with industry-leading solutions.
“Report Exec has a compelling value proposition and significant untapped market potential,” said Riverside Partner Joe Lee. “Given our expertise in the space, we are excited about continuing to invest in the product, grow the sales team and expand the company’s footprint.”
Riverside has made more than 80 investments in software companies in its history, and is seeking add-on opportunities for Report Exec and most of its other platforms.
Working with Schlachet and Lee on the deal for Riverside were Vice President Steve Rice, Senior Associate Jason Thorn, Operating Partner Jonathan Temple and Finance Director Mark Pigott. Origination Principal Jim Butterfield sourced the deal for Riverside.
Deepath Capital Management provided debt financing for the transaction. Jones Day provided legal counsel, Deloitte served as a financial advisor and West Monroe was the technology advisor for Riverside on the transaction.
About The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 440 transactions. The firm’s international portfolio includes more than 80 companies.