The Riverside Company (Riverside), a private investment firm focused on the smaller end of the middle market, is to sell HealthTech BioActives (HTBA) to Miura Partners, a private equity firm that invests in Southern Europe.
HTBA is a science-based specialist in the manufacturing and commercialisation of citrus flavonoids and active forms of vitamin B12 for the pharmaceutical, nutraceutical, food and beverage, and animal nutrition sectors and sells to customers in more than 60 countries around the world.
Closing is subject to customary approvals by regulatory authorities.
Riverside invested in HTBA in December 2019 and has since significantly increased the company’s manufacturing capacity, widened its international distribution and enhanced the firm’s R&D capabilities and expertise, leading to a pipeline strongly focused on new products. The company’s headcount has almost doubled during Riverside’s ownership.
HTBA completed the construction of a new state-of-the-art manufacturing unit in its facility in Beniel, Spain, primarily to produce Vitamin B12 active forms for which HTBA is one of the global market leaders. Under Riverside’s stewardship, HTBA has also invested in new digital and production technologies, streamlined processes and operating divisions, and introduced new personnel in key departments throughout the company, including marketing & sales, legal, finance, HR, and R&D. Additionally, in line with Riverside’s commitment to responsible investing, over the past five years, HTBA has become a sector leader in sustainability across a number of environmental measures.
Working with Alvarez-Novoa and Gaudin on this deal for Riverside were Vice President Laura Palacio, Senior Associate Jaime Garcia-Oliveros, and Operating Partner Jim Browne. Alvarez-Novoa sourced the original deal for Riverside.
Evercore Partners International (for M&A) and A&O Shearman (legal) advised Riverside’s affiliated fund on this transaction.
