Calero Software and MDSL Announce Merger in Transaction led by Oak Hill and Riverside Partners

Choate represented Riverside Partners and Calero Software, a portfolio company of Riverside, in connection with Oak Hill’s growth recapitalization of Calero and subsequent funding of Calero’s merger with MDSL. Both Calero Software and MDSL are high growth software providers in the recurring Technology Expense Management (TEM) space. Oak Hill will join Riverside Partners as the lead investor in the combined company. Sumero Equity Partners, an investor in MDSL, will also continue as a significant investor in the combined business. The deal is expected to close in late 2019 or the first quarter of 2020.