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SOURCE Riverside Partners
HERNDON, Va. and BOSTON, Sept. 16, 2013 /PRNewswire/ -- Riverside Partners, a Boston-based private equity firm, announced today that it has completed its acquisition of a majority equity interest in AMCAD ("AMCAD" or the "Company"), a leading enterprise software company dedicated to providing software solutions and services to the public sector including state, county and local governments. The terms of the transaction were not disclosed.
Based in Herndon, Virginia, AMCAD provides software solutions to the broader government system including courts, jails, prosecutors, probation, parole, county clerks, recorders offices, and other government offices. AMCAD has over 25 years of history of operating within the state and local government markets. Today the Company's current offerings include its integrated justice platform, a platform for government records and document management, and various data access technologies. AMCAD has established itself as a leading software provider through its innovative, high functionality offerings, and has a large and growing base of existing and signed government customers throughout the United States.
"I am incredibly excited to have Riverside Partners join with me and my team at AMCAD in our efforts to invest in our products to better serve our customers and to continue to grow AMCAD into an even more successful company," said Visagar M. Shyamsundar, Chief Executive Officer of AMCAD. "Our demonstrated expertise within the public sector through our records and data management solutions and our justice software platform has established AMCAD as the preferred vendor for government customers. I am confident that, with Riverside Partners, AMCAD will be even better positioned to serve our customers, broaden our sales coverage, and accelerate the pace of innovation and development of our already market leading technology solutions to the government services sector."
"We are pleased to partner with AMCAD at this exciting time and bring with us with the capital and resources to assist in executing AMCAD's growth strategy," said Ian Blasco, a General Partner at Riverside Partners. "AMCAD is an outstanding company that is in front of significant opportunity, and Visagar and his team are well positioned to capture additional market share across the various government markets. AMCAD's proven track record, outstanding suite of software products and services, and industry focused approach to enterprise solutions will continue to drive greater success going forward."
AMCAD is a leading enterprise software company that provides software solutions and services to the public sector including state, county and local governments. AMCAD automates the justice and records management ecosystem that includes courts, jails, prosecutors, probation, parole, county clerks and recorders offices, among others. Public sector offices require comprehensive, integrated information management software and solutions, and AMCAD's innovative suite of products and services including its integrated justice platform, a platform for government records and document management, and various data access technologies allow government offices to operate with enhanced efficiency and effectiveness. AMCAD boasts a national customer base with over 1,000 government clients in over 38 states. AMCAD is a portfolio company of Riverside Partners. For more information on AMCAD, please visit www.AMCAD.com.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm focusing on growth-oriented companies in the healthcare and technology industries. Riverside 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.
For additional information please contact:
One Exeter Plaza
699 Boylston St., 14th floor
Boston, MA 02116
Tel: 617 351 2810
13650 Dulles Technology Dr., Suite 400
Herndon, VA 20171
Tel: 703 787 7775
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