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The Riverside Company buys property tax business Paradigm as fund close looms

4 Nov 2013

accounting tax calculatorOperations-focused private equity firm The Riverside Company has bought property tax consulting business Paradigm Tax Group through an MBO.

The company said it specialises in analysing clients’ real and personal property portfolios to identify potential tax-saving opportunities, and serves more than 2,500 clients across a diversified set of industries and geographies.

Riverside partner Matt Dailey said, “Paradigm’s national footprint, dedicated focus on property tax, and talented employee base truly differentiates it from its competitors and has led to meaningful growth over time.

“We are excited to be partnering with Paradigm CEO Bob Dunlap and his team, and we intend to aggressively support Paradigm’s robust organic growth opportunities and proven acquisition strategy.”

Lower mid-market investor The Riverside Company held a third close for its latest buyout fund in August, AltAssets revealed at the time.

Riverside Capital Appreciation Fund VI held a third close of $1.48bn in July with a source with knowledge of the matter saying the firm expected to hold a final close in the autumn.

Riverside refused to discuss the fundraise, citing SEC regulations.

AltAssets reported in May that the firm had held a $1.29bn first close and expected to close the fund on its $1.5bn hard cap, well ahead of the initial $1bn target.

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