Riverside announces sale of Abracon
Private investor Riverside has sold its investment in Abracon, a Texas-based provider of passive and electromechanical timing, synchronization, power, connectivity and radio frequency solutions, to Genstar Capital.
We have enjoyed working with the talented Abracon management team, executing on several key initiatives to position the business for continued future growth, said Riverside Co-Chief Investment Officer (RCAF) Brad Roberts, in the press release. We were able to diversify further into high-growth product lines and expand Abracon’s global geographic footprint into attractive regions, particularly in EMEA. We also invested heavily with management to drive the company’s digital strategy and are excited to see the strong organic growth resulting from significant new end customer acquisitions during our hold period.
Riverside acquired a majority stake in Abracon in 2018.
Riverside was a great investment partner that worked alongside us to significantly expand the platform while investing in our management team and infrastructure to position us for long-term growth, said Abracon CEO Michael Calabria, in the press release.