The Riverside company has announced taking a minority stake in New York cinema advertising company Screenvision Media. Terms of the deal were not disclosed.
Screenvision does on-screen advertising in theaters, in-lobby promotions and conducts other marketing programs nationwide. Its network includes nearly 15,000 screens in all 50 U.S. states, according to the firm.
Riverside's investment comes a month after Screenvision was acquired by Abry Partners, a media-focused private equity firm in Boston, in a deal reportedly valued at $380 million, according to Adweek. Shamrock Entertainment and AMC Entertainment retained minority stakes in the business as well after that deal. Those investments come as the firm looks to extend its services to include other related business lines.
"Screenvision is a premier company that's trusted by some of the world's best-known advertisers, including many Fortune 50 brands," said Riverside managing partner Hal Greenberg in a statement. "We're excited to be part of its growth story, and look forward to helping its excellent management team capture more opportunities."
Jones Day provided legal advice for Riverside on the transaction.
Riverside is a global private equity firm co-headquartered in Cleveland that invests in growing businesses valued at up to $400 million.