Guardian Restoration Partners, a platform company of Alpine Investors, has acquired two restoration services businesses with the buys of Quick Dry Restoration and Spartan Emergency Water Removal.
Guardian’s group of companies provide commercial and residential restoration services for water and fire damage, mold, lead, asbestos and biohazards. The company is led by CEO Bruno Slosse, the past president and CEO of Vendavo, and President Brian Willis, a former investment professional at GTCR.
Alpine formed Guardian in April 2024 and began the platform’s build with the simultaneous acquisitions of Arizona-based DryLux Restoration, Northern California-based Dry Kings and Wisconsin-based Midwest Restoration. The acquisition of Quick Dry and Spartan bring Guardian’s total acquisitions since platform launch to five.
Quick Dry’s residential and commercial services include water damage restoration, fire damage restoration, and mold remediation. The company was founded in Boise, Idaho in 2016 by Evan Gines and today has two additional locations in Coeur d’Alene, Idaho and Seattle, Washington.
“Quick Dry is thrilled to be a part of the Guardian platform,” said Mr. Gines. “What Guardian has been able to accomplish in such a short amount of time since its launch is truly impressive, and the team’s focus on putting people at the heart of everything they do makes them an ideal partner for us.”
Spartan Emergency’s residential and commercial services include water and fire damage restoration, mold testing and remediation, storm damage cleanup, and reconstruction. The company was founded in 2012 by James Bonner III and is headquartered north of Richmond in Fredericksburg, Virginia.
“Spartan is a company built on a family- and community-focused mentality, so this partnership with Guardian made perfect sense for us,” said Mr. Bonner. “We look forward to continuing to provide the highest quality service for our customers in need as we add even more strength to our operations as part of the Guardian platform.”
“The high-quality work, services, and customer-first mindset Quick Dry and Spartan consistently bring to their communities stood out to us,” said Mr. Slosse.
San Francisco-based Alpine invests in control buyouts, majority recapitalizations, and corporate carve-outs of recurring revenue software, business services, and consumer services businesses that have enterprise values up to $1 billion and EBITDA of $1 million to $50 million. The firm invests across the United States, Canada, Europe and Australia. Alpine is currently investing out of its $4.9 billion ninth fund.
© 2024 Private Equity Professional | August 21, 2024
