Renovus Capital Partners, a Philadelphia-area private equity firm focused on investing in education and human capital sectors, has sold Red Nucleus Enterprises (Red Nucleus) to Riverside Partners (Riverside). Red Nucleus, with offices in the US, Europe and Asia, offers a full suite of digital learning and compliance solutions to the global life sciences industry. Renovus has retained a minority equity interest and will continue to support Riverside in its future growth initiatives. Other terms of the transaction were not disclosed.
“From the beginning we were big believers in Ian and his team. They had built a really talented organisation with unique capabilities in digital content creation for the life sciences industry.”
Consistent with its focus on founder owned businesses, Renovus’ investment was the first institutional capital raise by Red Nucleus. Working in partnership with its long-term CEO, Ian Kelly, Renovus helped the Company extend its service offerings, develop new products, expand its geographical presence and complete three accretive acquisitions.
Atif Gilani, Founding Partner of Renovus, says: “We are proud of the nearly 4x growth Red Nucleus achieved under our ownership and excited about the future direction of the business.”
“Renovus has been an incredible partner to me and my business, and our success would not have been possible without their strategic advice and encouragement. I’m pleased that they have chosen to stay involved for the next evolution of the Company,” says Ian Kelly, founder and CEO.
Brad Whitman, Renovus Founding Partner, says: “From the beginning we were big believers in Ian and his team. They had built a really talented organization with unique capabilities in digital content creation for the life sciences industry.”
“Red Nucleus’s successful growth is a great testament to Renovus’ expertise in scaling small and mid-size enterprises,” adds Renovus Senior Associate Grayson Harcourt.
DLA Piper served as legal counsel and Cherry Bekaert as financial advisors to Red Nucleus.
