Riverside Company is preparing to sell ARCOS, a maker of crew management, callout and emergency response software, after an eight-year hold, people familiar with the process told PE Hub.
William Blair is providing financial advice on the process, which is currently in early stages, the sources said. One of the sources noted that the books marketing the business were “just sent out.”
ARCOS, based in Columbus, Ohio, automates complex crew callout and storm management processes for electric and gas utilities, power plants, and mutual assistance groups. ARCOS Crew Manager software allows storm managers at utilities to access a computer-generated whiteboard to efficiently organize and mobilize crews during “blue-sky” days as well as amid large power restoration events following major storms.
ARCOS generates around $50 million in revenue and nearly $30 million in EBITDA, the sources said.
The company is expected to attract significant interest from both private equity firms and strategics, the sources said.
ARCOS is built on a newer technology and, as a category leader, technically has no competition, one source noted.
Riverside initially invested in the company in 2013 and has since grown the business through multiple acquisitions.
In August 2016, ARCOS acquired SAMsix, a utility mobile software company. A year later, ARCOS added Macrosoft’s Utility Division, the utility services division of Parsippany.
For Riverside, the process comes as it prepares to put a clinical trial payments technology business on the block this spring. A process for Greenphire is expected to launch around April, sources told PE Hub.
Riverside declined to comment. ARCOS and William Blair didn’t respond to PE Hub‘s requests for comment.