riverside partners invest in the future of welocalize
A Boston-based private equity firm supports growth with a $34 million dollar investment partnership
Frederick, Maryland and Boston, Massachusetts USA – November 23, 2010 – Welocalize, Inc., a global market leader for content translation, localization and internationalization of web based content, received a $34 million dollar investment from Riverside Partners, a Boston-based private equity firm. Riverside’s investment will not only help fund the global operations and technology, but Welocalize is leveraging the overall experience of the company’s leadership. Together, this investment and partnership presents many exciting opportunities, giving the company the needed boost to achieve accelerated success and to support the company’s aggressive growth strategy planned for 2011 and beyond.
“We are excited to continue to build the market leading, client-centric, localization services provider. We believe that Riverside Partners because of its ample capital availability to facilitate additional investment in the business, its experience building other market leading firms within its portfolio, its focus on growth and its technology expertise is the ideal partner to help us continue to grow our business,” said Smith Yewell, CEO of Welocalize. “Welocalize was looking for not only a source of capital, but a team that is as committed to innovation as we are.”
Tim Delbrugge, CFO of Welocalize goes on to say, “This investment represents an important building block for the future of our global operations. The dollars invested will allow us the flexibility needed to grow across multiple fronts, unlock new market opportunities, increase efficiencies and strengthen our global competitiveness for years to come.” Welocalize was founded in 1997 and is based in Frederick, Maryland. With over 400 employees in 9 offices located in the USA, Ireland, Germany, China and Japan, Welocalize provides next-generation translation supply chain management that delivers market-ready, translated content efficiently and affordably. Welocalize’s ability to provide superior translation supply chain management solutions is driven by GlobalSight, a collaborative, Open-Source Translation Management System (TMS) that addresses the critical needs of its customers. Welocalize’s clients include 8 of the world’s top 10 software and hardware companies and the Company has been ranked on the Inc 5000 list of fastest growing companies for 6 years. Riverside Partners’ investment will be used to support the company’s growth initiatives including investment in the company’s technology systems and potential add-on acquisitions.
“We believe Welocalize is one of the most well run and best positioned players in the rapidly expanding localization services marketplace,” said David Belluck, a General Partner at Riverside Partners. “Smith and his team have built one of the most compelling, flexible and scalable platforms in the market and Riverside Partners is excited about assisting the company in its next phase of growth.”
This is the first of many collaborative moves the company plans for the next year involving a focus on improving global presence, industry technology and the Welocalize product technology stack. Welocalize is poised for the investment and ready for the challenge of leading the localization industry.
About Riverside Partners
Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Partners Fund IV, L.P. The fund focuses on growth oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. The partners at Riverside Partners have managed more than $500 million in investments in over 50 companies. The firm is currently focused on companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit www.riversidepartners.com.
Welocalize offers integrated globalization services and products for the fluid and rapid deployment of enterprise content and applications to international markets. We provide globalization consulting, translation, localization, testing solutions and enterprise translation management tools that are optimized to be able to deliver on-demand translation in over 100 languages
Our clients include Autodesk, Inc.; Canon; Cisco Systems; Computer Associates; IBM; Microsoft; Sun and Symantec. With over 400 employees worldwide, Welocalize maintains 9 offices in the United States, Germany, Ireland, Japan and China . Please visit www.welocalize.com for more information.