Don’t think a cyber attack could impact your mid-market shop? That’s what The Riverside Company thought—until it happened to them.
A few years ago, two of Riverside’s portfolio companies experienced breaches. In one instance, hackers gained access to sensitive customer information and threatened to expose that data if the portfolio company didn’t pay a hefty ransom. In another case, hackers infiltrated a portfolio company’s computer systems to steal credit card information. Fortunately, in both instances, the companies resolved the issues before any serious damage occurred.
“Both these portfolio companies were less than $20 million in revenue so it was pretty amazing they would get targeted,” said Ron Sansom, a managing partner at Riverside. “That’s what really woke us up to this problem—that even these companies could get hit.”
To read the rest of this article, download the summer edition of Connections in the Middle Market, a publication produced by the partnership of Buyouts Insider, publisher of peHUB and Buyouts Magazine, and global law firm Duane Morris.
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