Riverside acquires Oval Room Group for its Buildout platform

The Riverside Co. has announced the acquisition of Oval Room Group, a Cincinnati-based media production company for the commercial real estate sector, as an add-on for its platform company Buildout, a software-as-a-service(SaaS)-based marketing, deal and customer relationship management platform in Chicago used by commercial real estate brokerages.

Financial terms of the deal were not disclosed.

Following investments in Apto and ProspectNow last January, the transaction marks the fourth tuck-in company for Buildout since Riverside acquired in July 2020. That acquisition was Riverside’s first following a pause on deals amid the rise of COVID-19.

Oval Room, founded in 2017, describes itself as an “end-to-end solution for marketing commercial real estate listings,” which makes it a natural fit for the Buildout platform.

“Oval Room’s services are a natural extension of the Buildout marketing software that would allow brokers to purchase professional digital content with a quick turnaround while creating marketing materials for a property,” said Loren Schlachet, a Riverside managing partner and head of its Micro-Cap Fund, in a statement. “This investment brings together Buildout’s CRE technology and Oval Group’s unmatched media services for a program that stands out.”

“Digital content services are more critical than ever before. More than 50% of potential tenants now expect a virtual tour before visiting the space in person,” said Riverside partner John McKernan. “We’re looking forward to expanding our offerings to include more self-service digital content experiences with the addition of Oval Room.”

Riverside is a global private equity firm co-headquartered in Cleveland that invests in growing businesses valued at up to $400 million in the smaller end of the middle market.


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