Net32 has Received an Investment from Riverside Partners

Livingstone’s Healthcare and Business & Technology Services teams are delighted to announce that Net32, Inc. (“Net32” or the “Company”) has received an investment from  Riverside Partners, LLC (“Riverside”). Deal terms were undisclosed.

Net32 is the leading online marketplace for purchasing dental supplies. The Company leverages proprietary technology to aggregate vendor and manufacturer catalogs into a database of hundreds of thousands of product listings that enables dental professionals to compare pricing easily and transparently.

Darren Cassidy, CEO at Net32 said, “I am excited about our growth investment and new partnership with Riverside.  The team at Riverside brings substantial domain expertise, strategies, and relationships that will help fuel Net32’s market leadership for the benefit of our employees, customers, vendors, and manufacturing partners alike.”

Founded in 1989, Riverside Partners is a middle market private equity firm with total capital commitments of $1.6 billion raised since inception. The firm focuses on growth-oriented companies in the healthcare and technology industries.

“Livingstone was instrumental in our journey to secure the ideal growth-oriented private equity partner, working tirelessly on our behalf to assemble a transaction that achieved our family’s goals and objectives,” said Dr. Pat and Donna Cassidy, Co-Founders of Net32.

Co-founded by Donna and Dr. Pat Cassidy in 1997 to support independent dental practices in optimizing their supply costs, Net32 became the industry’s first and leading transparent comparison-shopping solution for purchasing dental supplies. As the industry pioneer, Net32 has achieved annual growth exceeding 25% on average over the last 20 years.

“We take great pride in having guided Net32 throughout this seminal transaction. The Company’s exceptional customer experience, driven by over two decades of innovation and meticulous refinement of tech-enabled systems and algorithms, positions Net32 as an industry leader,” commented Andrew Bozzelli, Partner at Livingstone.

Livingstone has closed nearly 25 transactions in the U.S. over the last 12 months of which nine closed in Q1 2024, demonstrating the activeness of Livingstone’s M&A and debt advisory practices.

“Net32 represents another successful transaction in a long and growing list of Livingstone deals involving an investment in a family-owned business via a growth-orientated private equity firm.  The collaboration between Livingstone’s healthcare and business and technology services practices demonstrates the power of our platform and our commitment to delivering exceptional client outcomes,” added Ryan Buckley, Partner at Livingstone.

Venable LLP and Redwood Legal Group P.C. served as legal counsel to Net32. Choate, Hall & Stewart LLP served as legal counsel to Riverside.