CLEVELAND—Cleveland private equity firm the Riverside Co. said it has acquired Ladera Ranch, Calif.-based BionicPet Products as an add-on company to its Outward Hound platform that focuses specifically on pet products.
It also has invested in King of Prussia, Pa.-based Greenphire Inc., a software provider for clinical research payment processing management and analytics.
Terms of the deals were not disclosed.
The acquisition of Bionic provides the platform an entry into a new product segment, according to Riverside managing partner Loren Schlachet. Outward Hound makes a wide variety of toys for dogs, and Bionic specializes in highly durable dog toys made from Bionic Rubber, a proprietary formulation that uses only FDA food-grade materials.
“We're excited about bringing Bionic's fantastic products to millions of new consumers,” Riverside vice president Steve Rice said in a news release.
Jones Day and Deloitte advised Riverside in the acquisition.
Greenphire provides SaaS (software as a service) payment processing and management technology solutions that enable sponsors, contract research organizations and research sites to improve patient and site payment processes, drive strategic value through analytics, improve patient retention and compliance and reduce overall costs in the clinical trail payment process. The company has more than 500 clients.
Schlachet said Riverside will work to help Greenphire expand its operational infrastructure, global client base and product offerings.
“We look forward to supporting the company in its next growth phase,” said Riverside principal Joe Manning in a news release. "This investment exemplifies Riverside's strategy of partnering with best-in-class companies with strong management teams.”
Jones Day and Deloitte advised Riverside on the transaction, and Ares Capital provided financing. Pepper Hamilton LLP advised Greenphire in connection with the transaction.