Harris Williams & Co. Advises Veritext Holding Company in its Sale to Investcorp International, Inc.
Harris Williams & Co. is pleased to announce the sale of Veritext Holding Company (Veritext), a portfolio company of The Riverside Company (Riverside), to Investcorp International, Inc. (Investcorp). The transaction closed on July 1, 2010. Harris Williams & Co. acted as the exclusive advisor to Veritext. The transaction was led by Ned Valentine, John Arendale and Brian Lucas from the firm's Richmond office.
Veritext, headquartered in Florham Park, NJ, provides court-reporting services to law firms, insurance companies, and corporations. Veritext arranges for court reporters to capture testimony given during depositions, primarily in civil litigation and other proceedings. Veritext provides its services through regional offices, a national network of independent contractors, and affiliations with hundreds of court-reporting agencies and individual court reporters.
Riverside is a global private equity firm focused on acquiring leading small and medium-sized enterprises (with a value of up to $200 million) and partnering with strong management teams to enhance the success of its companies through acquisitions and organic growth. Since its founding in 1988, the firm has invested in 231 transactions with a total enterprise value of $5.0 billion. The investment portfolio in North America, Europe, and Asia includes 72 companies with annual sales totaling $3.3 billion, EBITDA of $506 million, and more than 13,000 employees. Riverside offers the resources to complete acquisitions smoothly with more than $3.0 billion in assets under management, more than 185 professionals in 19 offices and its longstanding relationships with partner lenders. According to Thomson Venture Economics, seven of Riverside's nine mature funds rank in the top 25% of all funds (as at December 31, 2009). The firm's investors include the world's leading pension funds, endowments, funds of funds, insurance companies and banks.
Investcorp is a leading provider and manager of alternative investment products. It has offices in New York, London and Bahrain and is publicly traded on the London Stock Exchange (IVC) and Bahrain Stock Exchange (INVCORP). Investcorp has six lines of business: private equity, hedge funds, real estate, technology investment, Gulf growth capital, and MENA Mezzanine. Founded in 1982, Investcorp has grown to become one of the largest and most diverse alternative investment managers in terms of both product offerings and geography.