Riverside invests in Australian simulation software developer

Credits : Dealstreetasia

Credits : Dealstreetasia

 

The Riverside Company has invested an undisclosed sum in Energy Exemplar, an Australia-based developer of integrated simulation software for electric power, water, gas and renewables, the company said on Tuesday. Along with the investment, Riverside will utilise its global resources and operating team to support the Australian firm’s international expansion. Currently, Energy Exemplar has more than 150 customers in 47 countries and over 90 per cent of its revenue is generated outside Australia. Riverside Partner Steven Spiteri said, it plans to invest in R&D so management can retain and strengthen its competitive edge while boosting sales and marketing efforts in international high-growth markets. Riverside has extensive experience in software investing and it plans to source and integrate complementary add-on acquisitions throughout the hold. “Riverside’s global resources will support Energy Exemplar and PLEXOS in keeping ahead of the curve in a world where simulation and co-optimization of resources across many industries is increasingly important,” said Energy Exemplar’s founder Glenn Drayton. “Their industry experience, operating track record and international capabilities will combine to sustain rapid growth for our company.” As a private equity firm, The Riverside Company has focussed on businesses valued at up to $400 million. It has invested in more than 480 transactions and has over $6 billion in assets under management.

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