Riverside appoints former Deliveroo CEO McManus as senior partner

Global private investment firm Riverside has appointed Ed McManus, former CEO of Deliveroo and Meridian Energy, as a Senior Operating Partner. McManus will join the Riverside Australia Fund (RAF), focusing on Australia and New Zealand, and will manage RAF's six-person operating team. His responsibilities include expanding the team's local capabilities and leveraging Riverside's extensive global operating team to drive revenue and profit growth across the portfolio.

In his role, McManus will serve as Senior Operating Partner and chair the board of RAF's most recent investment, Virtual IT Group. He brings over 18 years of executive experience in sectors such as health, energy, technology, and consumer goods, where he has driven revenue growth, profitability, and operational excellence. His tenure includes four years as CEO of Deliveroo Australia and Singapore, where he more than doubled revenue, and five years at Powershop Australia, where he grew the customer base from under 10,000 to over 180,000. McManus also led Meridian Energy's expansion of its energy generation portfolio and most recently held an interim CEO role at a private equity-backed growth business, leading its expansion into the US market.

Simon Feiglin, Managing Partner at Riverside, highlighted McManus's credentials, stating, "Ed is a highly accomplished executive with a deep understanding of the Australian market and a proven ability to unlock new value in businesses. His experience across multiple sectors, particularly in growth and expansion, will be invaluable to the team and portfolio companies in which Riverside invests." Feiglin's comments underscore the firm's confidence in McManus's ability to contribute significantly to their operations in Australia and New Zealand.

McManus expressed enthusiasm about his new role, saying, "Riverside's commitment to fuelling transformative growth and creating lasting value, coupled with its impressive portfolio in Australia and New Zealand, attracted me to the role. I look forward to helping founders and CEOs and their executive teams grow their businesses successfully by leveraging my diverse functional and industry experience." His statement reflects a focus on collaborative growth and the utilisation of his extensive background to drive business success.

RAF typically partners with entrepreneurial founders of high-growth, profitable businesses in Australia and New Zealand with earnings before interest, taxes, depreciation, and amortisation (EBITDA) of up to AUD $25 million. The firm aims to assist in accelerating growth domestically and internationally, drawing upon global knowledge and experience. Since its inception in 2010, RAF has completed over 45 investments, seeking to build more sustainable and profitable businesses through organic and add-on strategies.

Riverside's Australia operations saw successful transactions this year, including the sales of software provider Energy Exemplar and infrastructure services business Hiway Group. McManus's appointment is anticipated to build on this momentum, enhancing the firm's ability to support its portfolio companies effectively.

The news of McManus's appointment reaffirms Riverside's strategic commitment to strengthening its leadership team and enhancing its operational support capabilities. This move is seen as a continuation of the firm's efforts to deliver value and foster growth within its investment portfolio in the Australian and New Zealand markets.