Riverside acquires Dastex and Vita Verita

The US-headquartered sponsor first acquired Dastex and then Vita Verita as an add-on to the platform. 

Riverside partner Damien Gaudin said in a statement that the acquisitions would form the nucleus of a pan-European buy-and-build strategy. 

In the same statement, Managing Partner Karsten Langer said the deal highlights the sponsor's expertise at the crossroads of its two focus sectors: healthcare and speciality distribution. 

Riverside closed its latest European buyout fund, Riverside Europe Fund VI, on EUR 465m in March 2021. It deploys equity tickets of EUR 50m-EUR 150m in companies with an enterprise value of EUR 50m-EUR 300m. 

Dastex was in a late-stage sale process in February, with the company marketed off EUR 17m-EUR 20m EBITDA depending on adjustments, as reported by Unquote's sister publication Debtwire. The family-owned company was being advised by Allert & Co. 

Companies
Founded in 1979 in Germany, Dastex is a provider of both third-party brand and proprietary garments and consumables for cleanrooms in Germany, Austria and Switzerland with a foothold in the Benelux region.

Vita Verita was founded in Sweden in 1983 and offers cleanroom consumables and laboratory equipment, air quality testing, service and maintenance for pharmaceutical companies, hospitals and other controlled environments. The company offers both own-brand and third-party products, including disposable garments, gloves and wipes, as well as qualified verification and validation services. 

People
Riverside Europe - Damien Gaudin (partner), Karsten Langer (managing partner). 
Dastex - Carsten Moschner (CEO). 
Vita Verita - Anders Kumbrant (CEO), Magnus Kumbrant (COO).

Advisors
Vendor (Dastex) - Allert & Co (M&A).

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