The Riverside Company (Cleveland specifically, but all locations welcome)

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Was wondering if anyone could speak to the associate experience at The Riverside Company. Is it a 2/3 and out shop, how's the culture, fund performance, etc.

Comments (4)

 
  • Analyst 2 in IB-M&A
Oct 2, 2020 - 10:45am

Someone correct me if I'm wrong as this is all anecdotal. I don't know much about the Company, but here are some high level thoughts to get convo started.

 

It's a top tier shop if you want to work in LMM. They are massive within that space (just look at fund sizes that are spread across different strategies). Lots of $ to work for lots of deals. Based on this, I'd assume that they work hard. 

 
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  • Associate 1 in PE - LBOs
Oct 2, 2020 - 11:04am

I worked with them a few times before. I have a lot of respect for these guys. Their strategy is basically to be the big fish in small pond markets. 

 

For example, $200mm market, 50% penetrated, 6 players:

  • Target Company: $50mm revenue
  • Competitor A: $10mm revenue
  • Competitor B: $10mm revenue
  • Competitor C...

...and so on. They'll buy TargetCo, and then maybe tuck in one of A through E. Because these are generally small markets though, A through E will likely have another adjacent product or service, which presents you with lots of meaningful cross-sell opportunities. A lot of these companies have yet to be fully professionalized as well so there's definitely an element of roll-up-your-sleeves to these guys.

 

One of the things that struck me about them is that they are more thoughtful than most when it comes to the question of "What am I going to do with this company to drive value once I buy it". On a relative scale, these guys are really thoughtful there when it comes to the actual diligence process. 

 

I will say, these are hard earned dollars. These guys work sufficiently hard but they aren't notable grinders. However, because of this strategy of value creation, they really fight for every buck. I would keep that in mind. It may sound easy to write off, but really think about what that feels like day in and day out.

 

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