Private equity firm The Riverside Company has hired Jeff Tobin and Matt Schafer as operating partners. The two will join the firm's micro-cap strategy team and will report to Ron Sansom, senior operating partner.
In their new roles, Tobin and Schafer will provide strategic and operational support to micro-cap companies during Riverside's period of ownership.
The micro-cap team focuses on investing in companies with less than $3 million of EBITDA (earnings before interest, taxes, depreciation and amortization) and between $5-30 million in revenue.
Prior to joining Riverside, Schafer served as president and chief operating officer of Coachmen Industries, a consolidated $800 million manufacturer of recreational vehicles, modular housing and building systems.
Tobin joins Riverside from Global Travel, where he was chief operating officer and a member of the board of advisors.
The Riverside Company focuses on the smaller end of the middle market, specializing in companies with enterprise values of less than $100 million. Since 1988, the firm has invested in 129 transactions with a total value of $2.1 billion, sales of $2.4 billion, EBITDA of $263 million and more than 11,000 employees.