Riverside Electrifies with Latest Investment
The Riverside Company, a global private investor focused on the smaller end of the middle, has acquired the fire protection division of Oxarc, Inc. (Oxarc) as an add-on to its fire and life safety platform, Performance Systems Integration (PSI). Based in Portland, Oregon, PSI is a leading provider of fire and life safety services in the Pacific Northwest. The company provides customers with fire and life safety services including system inspection, service and monitoring, equipment sales and cylinder repairs as well as installations for new construction and retrofits.
Oxarc offers customers in Washington, Oregon and Idaho a variety of fire and life safety services including system inspection, repair and maintenance services, equipment sales, and installations, among other services.
“Acquiring the fire protection division of Oxarc further reinforces our aggressive add-on strategy for PSI,” said Riverside Managing Partner Loren Schlachet. “The company complements PSI well and further establishes PSI as a leader in the Pacific Northwest and Mountain West region of the U.S.”
“We’re excited to add Oxarc’s fire protection division to our platform as we continue to expand PSI’s footprint across the Pacific Northwest and into the Mountain West region,” said PSI CEO Travis Everton. “Together, we will be able to continue offering high-quality services to an array of customers throughout the states of Washington, Oregon and Idaho, and will continue growing the strong business Oxarc has built over the years.”
PSI is committed to delivering customers a high quality of customer service through its “single-point-of-management” compliance services and solutions for fire protection and life safety needs. The company also operates two Fire King divisions, specializing in fire extinguisher sales and service and cylinder requalification and maintenance in western Washington.
This is one more example of Riverside’s commitment to the Business Services industry. Riverside has invested in more than 280 platform and add-on companies in the business services sector since 1988 as part of its private equity and structured capital strategies.
“The market for fire and life safety businesses remains attractive, and we’re excited to continue building a market leading platform with the acquisition of Oxarc’s fire protection division,” said Riverside Partner John McKernan. “This is our fourth add-on to PSI, and we plan to keep seeking out customer-oriented fire protection companies with strong technicians and a specialized focus on inspection, repair, maintenance services and monitoring of fire and life safety equipment.”
Working with Schlachet and McKernan on the deal were Associate Aakeem Andrada, Analyst Aarathi Sahadevan, Operating Partner Ervin Cash and Finance Director Bart Thielen.