Riverlake Partners, a Portland-based private equity group focused on the lower middle market, has led a USD5m preferred round of funding for RPI.
The investment is being made through the company’s second fund, Riverlake Equity Partners II.
RPI, based in Seattle, specialises in automated manufacturing and fulfillment for the consumer make-on-demand printed products market.
RPI plans to use the additional funds to continue executing its growth plan.
Huntington Capital of San Diego, which provided USD5m of mezzanine financing to RPI in July, also participated in this round of preferred financing.
In conjunction with this investment, Riverlake partner Victor (Vic) G. Petroff will become chairman of RPI’s board of directors.
“We are impressed by RPI’s progress in developing and executing its business plan,” Petroff says. “The company’s effective application of technology and world-class manufacturing techniques, together with its complete focus on the personalised make-on-demand space, provide it with a highly differentiated business model. RPI has established itself as a market leader, and we believe it is uniquely positioned to continue to grow, largely because of its ability to quickly adapt to rapidly evolving customer demands.”
“We are excited to be co-investing with the Riverlake team,” adds Huntington Capital partner Tim Bubnack. “Riverlake has a strong reputation of providing operational expertise in partnership with the management teams of its portfolio companies.”
