Riverside Sizzles with Latest Investment
The Riverside Company, a global private equity firm focused on the smaller end of the middle market, has invested in fire protection service provider Basic Fire & Safety (BFS) 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.
BFS provides customers in Washington state with a variety of fire protection services including fire extinguisher part sales, inspections, and service.
“This is our second add-on to PSI for the year as we continue to follow through with our aggressive add-on strategy for the platform,” said Riverside Managing Partner Loren Schlachet. “BFS complements PSI nicely and will help further expand PSI’s presence in the Washington market.”
“We’re delighted to partner with such a customer-focused team as we continue to grow PSI’s geographic footprint,” said PSI CEO Travis Everton. “Together, we will be able to offer more services and support to better serve customers and will continue building upon the strong business BFS 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 operates in partnership with Fire King, specializing in fire extinguisher sales and service, cylinder requalification and maintenance and general fire protection services in western Washington.
“Both BFS and PSI share a common vision, focused heavily on providing superior services for their customers,” said Riverside Principal John McKernan. “We look forward to working with the BFS team and will continue our search for customer-oriented fire protection companies with strong technicians and a specialized focus in the fire and life safety space.”
Working with Schlachet and McKernan on the deal were Senior Associate Liz Burke, Analyst Aakeem Andrada, Operating Partner Ervin Cash and Finance Director Bart Thielen.