Victor Invests in Rizzo Group
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Victor Invests in Rizzo Group

Victor Capital Partners has made an investment in Rizzo Group, a building code, zoning and land use consulting firm.

Rizzo Group is a provider of building code compliance services, special inspection services, and sustainability advisory services to large commercial property owners, real estate and corporate asset managers, corporate tenants, universities, and technology companies across the country. The company’s staff includes architects, licensed engineers and attorneys specializing in building code, zoning law and environmental compliance issues. Rizzo Group, led by CEO Stephen Rizzo, was founded in 1967 by Charles Rizzo and is headquartered in New York.

Both Charles Rizzo and Stephen Rizzo, and other members of the company’s senior management team are retaining significant ownership interests in the company and will continue to manage the business. The investment from Victor will be used to support organic growth as well as add-on acquisitions of complementary businesses.

“We are excited to partner with Stephen, Charles, and the talented and passionate team at the Rizzo Group,” said Douglas Korn, managing partner of Victor Capital. “Rizzo Group has a well-deserved reputation for putting its clients first while helping them navigate a challenging regulatory and sustainability landscape, and we believe this offers an exciting platform for continued growth. We look forward to helping the management team drive new levels of success and are thrilled to support their leadership in creating innovative solutions that help property owners maintain safe and code-compliant buildings, avoid costly delays, and reduce carbon emissions.”

In April 2019, New York City passed new environmental legislation – the Climate Mobilization Act – that requires commercial real estate owners to reduce the carbon emissions of their New York City-based buildings (that are larger than 25,000 sq. ft.) by 40% by 2030. It is expected that similar laws will be enacted in other major cities, adding further complexity to the multi-step, building compliance and approvals process that commercial property owners and real estate asset managers must undertake.

“Commercial real estate owners need effective, timely solutions and specialized expertise to comply with increasingly complex building codes and sustainability standards to drive profitability and meet social responsibility objectives,” said Stephen Rizzo. “We are proud of our leadership as a client-focused consultant to the most sophisticated and professional property owners. Our partnership with Victor Capital will allow Rizzo Group to further invest in innovation and technology-enabled solutions and extend our geographic reach, with the goal of helping our clients achieve exceptional results. We look forward to working with the Victor Capital team.”

Victor Capital invests from $20 million to $100 million in middle-market companies that have more than $5 million of EBITDA and are active in industrial manufacturing and technology, industrial and business services, and specialty consumer products and services. The firm was founded in September 2015 by Douglas Korn and is headquartered in New York (www.victorcapitalpartners.com).

© 2019 Private Equity Professional | October 10, 2019

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