RF Investment Partners has acquired S&K Building Services, a provider of commercial building maintenance services.
S&K’s services include window washing, pressure washing, and metal and glass restoration. The Indianapolis-headquartered company operates 17 branches across Florida, Georgia, Illinois, Indiana (2), Kentucky, Michigan (3), Missouri, New York, Ohio (3), Tennessee, and Wisconsin (2). S&K was founded in 2000 by CEO Scott Spidel.
“Partnering with RF marks an exciting milestone for our company,” said Mr. Spidel. “The combination of RF’s deep facility services expertise and ability to support strategic growth initiatives set them apart. I’m highly enthusiastic about leading the S&K platform alongside a capital partner who is eager to expand our geographic footprint via strategic acquisitions and organic strategies. S&K is well-positioned to further solidify its status as an industry leader.”
According to RF, the United States commercial window washing market is a fragmented, multi-billion-dollar sector with significant opportunities for consolidation.
“We are thrilled to partner with a visionary founder who has dedicated over 25 years to building and leading this business,” said Pat Riggio, a managing director at RF. “With a strong, experienced team already in place, we see tremendous potential for both organic growth and expansion through M&A. We look forward to supporting their continued success and driving the company to new heights.”
RF Investment Partners typically invests between $10 million and $40 million in lower-middle-market software, healthcare services, and business services companies. Software companies generally have at least $5 million in annual recurring revenue, while healthcare and business services companies typically require at least $10 million in revenue and $2 million in EBITDA.
RF is led by co-founders and co-managing partners Peter Rothschild and Peter Fidler and operates offices in New York City, Chicago, and Charlotte. The firm is actively seeking add-on acquisitions for S&K to support its growth strategy.
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