The Riverside Company has acquired SAFEbuilt, a provider of community development services for local governments and public agencies.
SAFEbuilt offers a suite of services that include building department programs, planning and zoning, code enforcement and other administrative functions. Its affiliate company, Meritage Systems, provides workflow and operational support software for municipal building departments. SAFEbuilt was founded in 1992 and is based in Loveland, CO (www.safebuilt.com).
“SAFEbuilt has tremendous growth potential thanks to its compelling value proposition,” said Riverside Managing Partner Loren Schlachet. “Clients choose SAFEbuilt because of its great service, but also because the model greatly reduces the risk of running a bureaucratic department at a deficit.”
Today SAFEbuilt serves over 200 communities across the US and is the leading provider of building department services in Colorado, Georgia and Michigan. Within the last two years, SAFEbuilt has also expanded its presence into South Carolina, Ohio and Illinois as well as introducing two new service lines – planning and zoning, and code enforcement services.
Working with Mr. Schlachet on the transaction for Riverside was Vice President Brad Resnick, Senior Associate Kevin Kumar and Operating Partner Bill White. Origination Principal Scott Gilbertson sourced the transaction for Riverside. Dave Kralic served as Finance Director for Riverside, and Vice President Dan Haynes worked on financing the transaction for the firm.
The Riverside Company is a global private equity firm focused on investing in and acquiring growing businesses valued at up to $250 million (€200 million in Europe). Since its founding in 1988, Riverside has invested in more than 360 transactions. The firm’s international portfolio includes more than 75 companies. Riverside is headquartered in New York with additional offices in Atlanta, Chicago, Cleveland, Dallas, Los Angeles, San Francisco, and London (www.riversidecompany.com).
MidCap Financial (www.midcapfinancial.com) provided financing for the transaction.
2014 PEPD • Private Equity’s Leading News Magazine • 11-13-14
