Recapitalization and sale of UltraVolt by Riverside Partners

 

Client and Seller:  UltraVolt

Based in Ronkonkima NY UltraVolt develops and manufacturers standard high voltage power supplies sold off-the-shelf with no customization.  UltraVolt was the first company to offer a standard catalog of high-voltage power supplies and “ship from stock” delivery.  After a long and successful career the principal owner wanted to retire and either recapitalize the business or sell to a strategic buyer.

 

Buyer:  Riverside Private Equity (MicroCap Fund)

We worked with the management team at UltraVolt to achieve the founder’s strategic objectives and best position the business for future growth.  Riverside Partners is an American investment firm, specializing in private equity.  Riverside’s focus on growing middle-market technology companies made Riverside a “preferred partner” for the business.

 

Transaction Details:

Terms were not disclosed, but the founder cashed out at the closing and retired and key managers of UltraVolt were able to roll-over their equity into the recapitalized UltraVolt.  This gave management the opportunity to have “two bites of the apple,” participating in the exit when Advanced Energy Industries (NASDAQ: AEIS) acquired the business in August 2014.

 

Broker/Dealer:  Glocap Advisors

Completion:  September 2007