How ICM and Riverside Partnered for Growth

Private equity can indeed create jobs – just ask Ohio state officials, who worked with Insurance Claim Management (ICM) and the private equity firm that owns ICM, The Riverside Company, to open a new Springfield facility that now employs 160 people.

This impressive story is told by Paul Gross, President of Eau Claire, Wisconsin-based ICM, and Bill Seelbach, a former McKinsey consultant and now Senior Advisor to Riverside. Gross and Seelbach detail the formation of ICM as a spin-out from an existing Riverside portfolio company, the tax and other incentives that were agreed with Springfield and Ohio officials, the impact that the new facility has had on Springfield’s hard-hit economy, and how a local community college partnered with ICM to train a mostly manufacturing-oriented workforce to process insurance claims.

This program is one of an ongoing Privcap series on value creation in private equity.