Riverside’s Gone Mainstream

The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Mainstream Electric, Heating, Cooling and Plumbing (Mainstream). The company provides residential HVAC installation and repair, plumbing, electrical, excavation and drain services in the Greater Spokane, Washington, and Coeur d’Alene, Idaho, markets. This is an add-on investment to Riverside’s platform, Radiant Plumbing and Air Conditioning, a provider of essential, maintenance-focused home services.

This is Radiant’s third add-on, acquiring Schmidt Mechanical Group, Inc., in July and Done Services Group, Inc., in October 2021.

“We are thrilled to work with Todd & Elaine Damschen, Mainstream’s management team and its expert technicians who have provided first-class services since 2000,” said Riverside Senior Partner Meranee Phing. “During our partnership, we plan to make strategic investments across the various service lines, promote cross-selling and grow the newly introduced sewer and drains business.”

With the addition of Mainstream, Riverside continues to add to its extensive work in consumer and essential home services. Riverside continues to pursue additional opportunities in home services, including plumbing, HVAC installation and maintenance and electrical services companies for the Radiant platform.

“We’re excited to continue growing the Radiant platform with best-in-class companies like Mainstream,” said Riverside Vice President Harrison Petts. “We look forward to continuing our growth strategy for Radiant, both organically and in-organically.”

Working with Phing and Petts on this deal for Riverside was Senior Associate Mark Fishman, Associate Max Simon, Associate Brendan Callaghan, Operating Partner Doug Milner and Finance Partner Dave Kralic. Principal, Origination, Cheryl Strom sourced the deal for Riverside and Senior Partner Anne Hayes secured the incremental financing.