Riverside poaches operating partner

The Riverside Company, a firm with a strong roster of operational professionals, has pulled talent from American Capital to bolster its value-add approach.

The Riverside Company has added senior operating partner Michael Michienzi in its Dallas office.

Michienzi joins from Washington DC-based publicly traded private equity firm American Capital, where he was a senior principal with similar operating responsibilities.  

“At American Capital I did ostensibly the same thing, I just did it alongside many other people,” Michienzi told sister publication Private Equity International. He was previously president and general manager at marketing and distribution company Applica, where he ran the Black & Decker household product division.

“I’m a sales and marketing and consumer products guy who turned into a general manager and CEO,” he said.

Michienzi will be responsible for advising on behalf of the Riverside Capital Appreciation Fund family, working with its more than 30 existing portfolio companies and advising on prospective investments. The RCAF funds invest in North American-based businesses with earnings before interest, tax, depreciation and amortisation of between $5 million and $20 million. Riverside’s RCAF V closed in 2009 on $1.17 billion and is more than 50 percent invested.

Michienzi joins Riverside’s 15-person Dallas office, led by managing partner Suzy Kriscunas. The firm has more than 25 operating professionals across its 20 offices, six of which will work with Michienzi on the RCAF team.
Riverside’s portfolio as of September 2011 had generated aggregate 12-month EBITDA growth of 11 percent, according to the firm.