Riverside backed Vokes in 2008 by carving it out of SPX Corporation. The firm has since consolidated the business into one structure and rolled out its Vokes-Air brand across Vokes’ existing markets.
It has also divested of non-core units to further streamline the operations.
Riverside Partner Thomas Blomqvist said, “Riverside took a fragmented corporate division with untapped potential and carefully built a strong standalone company.
“We then helped Vokes thrive by investing in R&D, improving production efficiency, reducing overhead, and ultimately significantly increasing profitability of the company.”
Last month Riverside closed its new flagship fund on $1.5bn, exceeding its initial target by 50 per cent.
At that time, AltAssets reported that the firm’s Asia-Pacific fund II had secured $135m from 64 LPs towards its $150m target.
Copyright © 2014 AltAssets