June 04, 2021
Translink initiated the investment into ToolWatch by The Riverside Company
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.
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. The firm has particular expertise in Buyside M&A, having gained a reputation as the leading middle-market buyside firm in the US.
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Mike Pawson, Group CFO and shareholder Greenhous Group Ltd
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Steve Tate, CSF Chairman & CEO
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Translink proved to be a winner. We received global interest, from across Europe, the USA and China. BHP worked tirelessly, literally day and night to get the deal over the line in a very short timescale. I cannot recommend BHP enough, their dedication and international connections meant that we closed the deal well above our expected selling price.”
David Webster, Managing Director and shareholder of The Label Makers Limited
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I am impressed with the continuous deal support provided by the financial advisors. Once again have Anecta and the Translink network proved its value proposition to us and I highly recommend them for national and cross-border deal advisory.”
Mattias Kaneteg, Miss Group founder and CEO
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Petri Granroth, CEO and shareholder of Visy
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Steffen Vogel, former owner of Cortex Technology
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Brett Valliant, Corporate development director, Diploma Healthcare Group
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Thomas Melgaard Petersen and Henrik Linnemann, former owners of AlfaNordic
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Giulio Pedrollo, CEO of Pedrollo Group
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Olavi Ruokonen, Former Chairman of the Board of
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Mike Gibney, CEO of LSC
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Tomi Pulkki, CEO and founder of HopLop Oy
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Huang Quan, Chairman of BCC Inc
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Stefan Bellinger, Managing Partner of Carbox
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Oliver Herkommer, CEO of the Ingenics Group