Company | news

Woodbridge Group Closes CPA Site Solutions-Riverside Deal
Monday, November 28, 2011

New Haven, Connecticut - November 28, 2011 - Woodbridge Group is pleased to announce the sale of its client CPA Site Solutions, Inc. to The Riverside Company's Micro Cap Fund II (RMCF II).

Vermont-based CPA Site Solutions (CPASS) provides turnkey websites, marketing and hosting to a client base of about 5,000 accounting firms. As one of the earliest providers of industry-specific web solutions, CPA Site Solutions thoroughly understands the needs of its clients and their unique online security requirements. The company offers 115 different website features and 300 design templates to choose from.

CPA Site Solutions is a platform acquisition for The Riverside Company, a leading New York-based private equity firm, focused exclusively on businesses at the smaller end of the middle market. The firm has completed over 300 transactions in 23 years and will continue to apply the proven RMCF approach of buying fast-growing U.S.-based companies with under $5 million in EBITDA and then supercharging returns.

"We are delighted to have exceeded our client's expectations in delivering the ideal buyer for his innovative company," said Tom Hawke, Senior M&A Advisor based in Woodbridge's Boston office. "The Riverside Company has the financial resources and management expertise to continue to grow CPA Site Solutions to achieve its full potential."

"We've had a lot of success with Software as a Service (SaaS) companies at Riverside, and we expect CPA Site Solutions to continue that trend," said Riverside Managing Partner Loren Schlachet. "We're confident that we can expand on CPASS's great products and services, deepen existing customer relationships, and continue capturing market share."