Gail Chiasson, North American Editor
The Riverside Company, Cleveland, Ohio, has acquired a majority stake in Spectrio LLC, national provider of on-hold messaging and digital signage managed services, from SJ Partners, New York, and other investors.
Spectrio, located in Oldsmar, Florida, helps its clients capture ‘marketing moment’ during times when customers might otherwise not be engaged, using these opportunities to deliver clients’ targeted messages and enhance their brand messaging consistency. Spectrio provides its customers with end-to-end solutions including content creation, professional production of audio or visual content, installation, and network management services.
“Spectrio excels at providing effective and impactful marketing services, delivering crucial brand messages for customers,” says Chris Jones, Riverside partner. “Its outstanding customer service and high value service offering has helped Spectrio build a diverse and loyal customer base.”
Spectrio was founded in 2002 by Aaron Kleinhandler, CEO, and Mitch Keller, president, who together built the company through 17 acquisitions. Riverside will partner with the management team to continue building on its organic and add-on acquisition growth strategy, leveraging Spectrio’s strong vertical expertise in the healthcare, automotive, retail, and hospitality industries.
Riverside anticipates expanding Spectrio as it partners with Kleinhandler and his team.
“Spectrio has an experienced and talented management team that we look forward to supporting in continuing the company’s impressive record of growth,” says Jones. “We’re eager to continue Spectrio’s add-on strategy, and we will continue to invest in the company’s service and technology capabilities to ensure Spectrio maintains its leadership position and compelling value proposition.”
BMO, NXT Capital and New Canaan provided financing for the transaction. Kirkland & Ellis advised Riverside on the investment, and Lazard Middle Market acted as financial advisor to Spectrio.
The Riverside Company is a global private equity firm focused on acquiring and investing in growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 350 transactions. The firm’s international portfolio includes more than 70 companies. It has over $4.6 billion in assets under management.
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