Private equity firm Riverside has acquired Donlin Recano, a bankruptcy management firm based in Chicago, on behalf of stakeholder management and financial communications consultancy Sage Holdings.
It is Riverside’s 11th acquisition since the beginning of 2009 and was made through the Riverside Europe Fund III.
Donlin Recano’s services include pre-Chapter 11 filing preparation, Chapter 11 noticing solutions, claims management, balloting and distribution services. DRC also provides information support services to committees of unsecured creditors appointed in Chapter 11 cases.
Donlin Recano joins an international stable of financial communications and stakeholder management firms that make up Sage Holdings, which was formed in 2007 with private equity backing from Riverside.
The transaction expands Sage’s service offerings into the field of bankruptcy claims administration and provides the company with a platform to expand its bankruptcy services offering. Sage also offers financial communications, investor relations communications, proxy solicitation and capital markets intelligence services. DRC’s clients will have access to the investor and creditor identification, financial communications and vote solicitation services that Sage provides.
Kai Köppen, partner at Riverside, says: “We are delighted to bring an exceptional company like Donlin Recano into the Sage family. DRC is one of a small handful of specialists dedicated to its niche. We are excited about gaining access to the market that DRC serves, and eager to tap DRC’s already significant growth potential in this expanding industry.”
Oliver Niedermaier, Sage president and chief executive, adds: “With this acquisition, Sage Holdings has extended its offering to include the full range of services required by companies at all stages of the bankruptcy process. This is a high-growth area for our business.”
