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The Riverside Company forms third fire and life safety platform

The Riverside Company forms third fire and life safety platform

NEW YORK – The Riverside Company private investment group is forming its third fire and life safety platform following a pair of acquisitions.

Riverside recently picked up American Service Company (ASC) and Advanced Fire Protection Systems (AFPS), which offer fire and life safety system services to commercial property owners and building managers in eastern Massachusetts and the greater Baltimore/ D.C. area. The company said the combined business will provide those services to customers across the Northeast and Mid-Atlantic, including system inspection, service, monitoring, and equipment sales, as well as installations for new construction and retrofits.

"Fire and life safety is a rapidly growing market, and the combined business is well-positioned to meet the ever-growing needs of the industry,” said Riverside Managing Partner Loren Schlachet, leader of the firm’s Micro-Cap Fund. "During our partnership, we plan to invest in sales and marketing resources to enhance the organizations’ already extensive customer base, while extending service offerings that will address the compliance needs of new and existing customers.”

In a statement, the company noted an interest in pursuing organic growth by bringing additional businesses under the broader company through strategic add-on acquisitions. The team said they remain optimistic about the company’s portfolio.

Schalachet worked on the deal together with Partner John McKiernan alongside Assistant Vice President Sara Passani, Senior Associate Jeff Abboud, Operating Partner Cathy Skula and Finance Director Cassie McGruder. Principal of Origination Cheryl Strom sourced AFPS for Riverside.



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