Apposite invests in Riverdale

Riverdale will pursue an acquisitive growth strategy across the UK.

Apposite is currently investing from its second fund, a £125m vehicle that held a final close in June 2018 and writes equity cheques of £10-20m.

Following the deal, Alpha managing director Ian Gordon will continue in his current role, while Apposite partner Rory Pope will take a seat on the Riverdale board of directors. Apposite has also introduced MW Solicitors and CurrentBody.com chairperson Mike McGrath as non-executive director at Riverdale.

Debt
Metro Bank provided a debt package to support the transaction.

Companies
Founded in 2018 and headquartered in London, Riverdale is a provider of healthcare services.

Alpha Vitality is headquartered in Stokesley, North Yorkshire, and operates 10 dental practices in north-east England. The business operates on an NHS referral and private care basis.

People
Apposite Capital – Rory Pope (partner); Alex Cunynghame (investment executive).
Riverdale Healthcare – Mark Seekings (chairperson, CEO).
Alpha Vitality Group – Ian Gordon (managing director).

Advisers
Equity – Grant Thornton (corporate finance); Hazlewoods (financial due diligence, tax); Pinsent Masons (legal).
Company (Alpha Vitality Group) – Dental Elite (corporate finance); Schofield Sweeney (legal); Swallow & Company (financial due diligence, tax).
Management – Squire Patton Boggs (legal).
Debt – Gateley (legal).

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• Topics
• Buyouts
• UK / Ireland
• Healthcare
• United Kingdom
• Apposite Capital
• Grant Thornton
• Pinsent Masons
• Squire Patton Boggs
• Gateley