Riverside makes investment into Brookson
Contractor accounting practice receives investment boost from major private equity firm
CONTRACTOR specialist Brookson has received investment from a global equity firm.
The Warrington-based tax and back-office service provider has been invested in by The Riverside Company, a PE firm that takes a stake or acquires growing businesses up to the value of $250m (£160m). The 26-year old investment firm has taken part in more than 370 transactions, and is currently involved with 75 companies. The deal value is currently unknown.
Riverside partner Dr Martin Scott said that Brookson offers the “best service of its kind in the industry”, and sees room for expansion in the market.
Brookson’s offerings are run through its cloud-based Connect platform, offering real-time financial and management information to their clients.
Riverside will look to grow Brookson by leveraging its services, sales and marketing efforts, including the addition of new features, while expanding its reach both organically and through strategic add-on acquisitions.
“We firmly believe that Riverside is the perfect partner for the Brookson business in this regard, and we are very excited by the opportunities that lie ahead of us,” said Brookson managing director Martin Hesketh.
Grant Thornton provided financial advice to Riverside on the transaction.