“3D solid modeling and additive manufacturing are increasingly being employed for a wide array of product design, prototype development and manufacturing applications,” said Riverside Partner Steve Dyke.
Cleveland, Ohio (PRWEB) November 17, 2014
The Riverside Company has acquired Fisher/Unitech (Fisher), a value-added reseller of 3D solid modeling design software, 3D printing hardware and related products and services. Based in Troy, Michigan, the company has 13 locations with full classroom facilities supporting sales across 16 states. The company’s products, training, and consulting services are employed by customers to create new products that change the world.
Founded in 1993, Fisher operates largely in the Midwest and New England. Fisher is the world’s largest distributor of Stratasys 3D printers and the third-largest distributor of SolidWorks software in the U.S.
“3D solid modeling and additive manufacturing are increasingly being employed for a wide array of product design, prototype development and manufacturing applications,” said Riverside Partner Steve Dyke. “Fisher/Unitech is a trusted resource for a broad array of customers in numerous industries.”
Fisher/Unitech has more than 8,000 customers, including some of the most prominent manufacurers in aerospace, consumer goods, automobiles, and defense.
Fisher/Unitech CEO Charlie Hess and Vice President of Technology Greg Fisher founded the company and will remain in their positions along with the rest of the management team.
“We’re delighted to partner with Riverside, and we look forward to accelerating our growth with the support of Riverside’s resources and expertise,” said Hess.
Riverside’s growth plans for Fisher/Unitech include investing in the company’s sales, marketing and tech support efforts to capitalize on the strong growth in the company’s core product offerings, as well as entering new markets and product offerings organically and through add-on acquisitions.
Riverside has a rich history of investing in discrete manufacturing companies. The firm has invested in more than 80 specialty manufacturing and distribution (SMD) platform companies since its founding in 1988.
“Our SMD team focuses on investing in many manufacturing businesses that would be target customers for Fisher/Unitech. As a result, the value Fisher provides its customers as they seek to innovate with new products was immediately recognizable to our team,” said Dyke, Riverside’s Global Head of SMD.
Working with Dyke on the transaction for Riverside were Principal Rob Langley, Senior Associate Bernardo Villar, Associate Conor Cook, Senior Operating Partner Michael Michienzi and Operating Partner – Finance Tom Snyder. Origination Principal Scott Gilbertson sourced the opportunity and Partner Anne Hayes worked on financing the transaction for the firm.
Maranon Capital provided financing for the transaction. Jones Day advised Riverside on the investment.
About The Riverside Company
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 360 transactions. The firm’s international portfolio includes more than 75 companies.