June 4, 2021
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in ToolWatch, a leading provider of tool and equipment tracking and operations management software for the construction, utilities and oil & gas industries. Translink acted as advisor to the buyer.
Founded in 1991, ToolWatch provides industrial and commercial construction companies an integrated solution to streamline complex workflows during construction projects including tool / materials tracking, inventory management, equipment purchasing and fulfillment, job costing and billing and field productivity optimization. With the ToolWatch platform, customers can better coordinate between geographically dispersed field teams, back office administrators and warehouse workers to efficiently manage supply chain logistics. Today, more than 650 companies in 20 countries use ToolWatch.
“The team at ToolWatch has spent many years providing quality service to their customers,” said Riverside Managing Partner Loren Schlachet. “We believe ToolWatch software is the leading solution of its kind in a growing and under-penetrated market. We see ongoing opportunities to further penetrate the construction market, and we plan to help the team do this through expanding its diverse customer base and introducing additional products.”
ToolWatch is another example of Riverside’s commitment to investing in the Software & IT industry. To date, the firm has completed more than 180 investments in the sector and has a team of global experts dedicated to growing companies in this specialization.
“ToolWatch is committed to helping our customers run their businesses more efficiently, more cost-effectively and more profitably,” said Don Kafka, Chief Executive Officer at ToolWatch. “We chose to partner with Riverside because they share this commitment to excellence. We are excited to get access to the financial and strategic support of Riverside and look forward to expanding the solution set we offer clients.”
“We are thrilled to be partnering with an exceptional management team at ToolWatch,” said Riverside Senior Partner Joe Manning. “We look forward to providing support to expand ToolWatch’s product development and customer efforts. We will also pursue complementary add-on acquisitions to further enhance the breadth and depth of solutions offered by ToolWatch to the construction, utilities and oil & gas industries.”
Working on the deal with Schlachet and Manning were Assistant Vice President Chris Shea, Associate Aakeem Andrada, Analyst Erin Reger, Senior Operating Partner Mike Eblin and Finance Director Gary Schlegel. Managing Partner, Origination, Jeremy Holland and Principal, Origination, Cheryl Strom sourced the investment opportunity for Riverside.
Contact our Team Members advising in this transaction:
Dinan & Company, LLC is the partner firm of Translink Corporate Finance in the United States. It is a leading diversified financial services company with over 32 years of advisory and merchant banking experience dedicated to middle-market transactions.
Michael A.
Dinan
Managing Partner
mdinan@translinkcf.com
