The Riverside Company’s Latest Add-on to Its Life Safety Platform is Too Hot to Handle
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Metro Fire Inspection and Maintenance Inc. (Metro), a fire protection company that offers maintenance, inspection, repair and violation and deficiency services in all five boroughs of New York City, as well as Suffolk County and Nassau County. This is an add-on investment to Riverside’s Relay Fire & Safety (Relay) platform, which provides life and safety system solutions for people and commercial properties throughout the Mid-Atlantic, Northeast and New England.
With more than 20 years of service across the New York metro region, Metro is the reliable source for building owners concerning the design, installment, testing, maintenance and fulfillment of the city, county and state requirements for new and pre-existing fire systems.
“Fire and life safety is a rapidly growing market. By adding Metro to the Relay portfolio, we open new opportunities for geographic expansion into the New York region, an area in critical need of reliable fire & life safety services,” said Riverside Micro-Cap Fund (RMCF) Managing Partner Loren Schlachet. “Under our hold and the Relay umbrella, we see numerous opportunities for sustained growth through operational improvements, service line expansions, new customer acquisitions and making complimentary add-on investments.”
This investment is another example of Riverside’s expertise in the Business Services sector. The firm has invested in more than 350 platform and add-on companies in the business services sector since 1988 as part of its private equity and flexible capital strategies.
“We’re pleased to welcome Metro to the Relay team and to announce our inaugural New York branch,” said RMCF Partner John McKernan. “With Metro’s reputation in the New York metropolitan area, combined with our scale and range of service lines, we will offer comprehensive life safety systems that keep occupants safe and minimize the disruption of mission-critical activities.”
Working with Schlachet and McKernan on the deal were Vice President Sara Passani, Senior Associate Jeff Abboud, Analyst Salam Karahawa, Operating Partner Cathy Skula and Finance Director Cassie McGruder. Partner of Origination Grant Marcks sourced the deal for Riverside.