Press Release: Equity Investment by Riverside Partners
R&D ALTANOVA ANNOUNCES EQUITY INVESTMENT BY RIVERSIDE PARTNERS
South Plainfield, NJ and Boston, MA – March 31, 2015
R&D Altanova, Inc., the leading provider of full turn-key test interface solutions, announced today that it has closed on an equity investment by Riverside Partners, a middle-market private equity firm specializing in healthcare and technology industries.
James Russell, CEO of R&D Altanova said, “We were looking for a partner to assist us with our global growth plans and provide the financial means to allow us to expand our operations. This partnership will enable us to execute on those plans to continue to build the best in class global infrastructure and maintain our continued focus on innovation in the A.T.E. marketplace.”
“R&D Altanova is the leader in meeting the complex, and mission-critical semiconductor testing needs of the worlds most demanding customers,” said David Belluck, a General Partner at Riverside Partners who will join the company’s Board of Directors. “We are pleased to complete this investment and to partner with the Company’s talented and experienced management team on the next phase of the Company’s growth.”
“The product demands of our technology customers requires us to continually reinvest in equipment and global infrastructure to develop the test interface solutions they will need in the future”, said Ken Pawloski, CFO of R&D Altanova. “We’re excited about this next phase of our growth strategy”.
About R&D Altanova, Inc.
Founded in 1969 as R&D Circuits, the Company is the leading provider of full turn-key test interface solutions and specializing in Advanced Technology Printed Circuit Board Signal Integrity and Power Integrity Engineering, Design, Fabrication, and Assembly and Manufacturing Services. A family-owned and operated business for over forty years, R&D Circuits acquired Altanova in the fall of 2013 and changed the name to R&D Altanova. The company has grown to four locations, with home base and interface board manufacturing in South Plainfield, NJ and assembly and elastomer operations in Allentown, PA; signal integrity and engineering and design engineering and sales services in San Jose, CA and a regional repair and engineering and sales office in Hsinchu, Taiwan. www.rdaltanova.com
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.