Riverside to exit ACTINEO to Verisk at ‘high IRR’

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Lower mid-market investor The Riverside Company has agreed to exit ACTINEO to data analytics provider Verisk at a “high IRR”, the firm said.

Riverside bought into ACTINEO in 2019. The firm said the company had built out its technology platform and extended the range of services offered during the investment period. It also launched its joint venture subsidiary ANTEVIS which specialized in digital services for medical codification and assessment of bodily injury claims in the field of medical malpractice liability.

ACTINRO provides data management and software for insurance companies to manage bodily injury claims process. It has a client base of 80 insurance companies.

Michael Weber, senior partner at River Europe, said, “ACTINEO is a regional market leader in a rapidly growing specialist market sector, making the company a highly attractive asset for a strategic buyer like Verisk.

“ACTINEO’s business is based on long-term and deep client relationships with insurance firms and during the period of our investment, we have seen the talented management team continue to cement and add to these relationships across Europe.”

The deal is the third exit from Riverside Europe Fund V. The fund was closed on $561m of commitments in 2012.

The firm closed its biggest-ever Europe-targeting fund on €465m in March.

It closed its last buyout fund, Riverside Micro-Cap Fund V, on $1.2bn three years ago.

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