Riata Capital Group Invests In Greenix Pest Control
Riata Capital Group has made an investment in Greenix Pest Control in partnership with Bob Nilsen and the Company’s management team. Greenix is a provider of subscription-based pest control services to residential customers in thirteen markets across the Midwest, Mid-Atlantic, and Eastern regions of the United States. The deal marks RCG’s first investment as a part of the firm’s strategy to allocate as much as $150-$200mn of capital to opportunities in the residential home-services sector over the next three to five years.
Barron Fletcher, Managing Partner of RCG, said, "We have been impressed by the unique platform that Bob Nilsen, Bridger Thomas and their team have built in Greenix, creating a high-quality, next-generation pest control services provider committed to excellent service and customer satisfaction. Their commitment to their people, high-energy culture and strong management and infrastructure have allowed them to build and scale a differentiated platform within the sector. Based on our team’s experience building leading numerous multi-site consumer platforms, we believe we represent a great value proposition for Greenix as their investment partner. We look forward to contributing to their continued growth in existing markets and their successful entry into new ones."
RCG Managing Partner, Jeff Fronterhouse, added, “We are excited to partner with such a well-positioned and well-managed platform. Bob, Bridger and the broader leadership team at Greenix have built an impressive business with great people, processes and infrastructure. Importantly, this partnership with Greenix marks the first investment of RCG’s strategy to allocate as much as $150-200 million of equity capital over the next three to five years to investments in the residential home-services sector. With respect to Greenix, RCG will look to deploy additional capital in the platform through time to support the Company’s continued expansion including pursuing synergistic and targeted add-on acquisitions.” Fronterhouse added, “Similar to our residential home-services strategy, RCG has allocated significant capital to current platform strategies serving the Hispanic consumer and the eye care industry.”
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