Riverside Finds Perfect Home for Latest Franchise Investment
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Assisted Living Locators, a franchisor of senior living advisory and placement services. The acquisition is an add-on to Riverside’s platform, Executive Home Care, which provides in-home non-medical services to individuals who need support with daily living activities, such as the elderly and those who are physically handicapped, recovering from an injury or suffering from chronic health issues.
Founded in 2006, Assisted Living Locators’ franchisees offer a no cost, nationwide senior care placement and referral service for in-home companion care, independent retirement options, assisted living, memory care and skilled nursing facilities. The company has over 140 territories across 36 states and the District of Columbia.
“We are excited to add Assisted Living Locators to the Executive Home Care platform,” said Riverside Managing Partner Loren Schlachet. “This combination extends the business into senior living advisory and placement services, which are highly complementary to in-home care services. Assisted Living Locators has a fantastic reputation and is positioned for strong growth, led by an exceptional management team.”
The company’s network of local senior care advisors works with families at no cost in an effort to find quality assisted and independent living, memory care, nursing homes and in-home care. The senior advisors meet with families in person to assess a client’s care level and financial needs before recommending the best care and living solution.
“Following the acquisition, in addition to pursuing geographic growth, Riverside will invest in franchise sales and marketing resources and plans to drive expansion across existing franchise locations through support resources and training initiatives,” said Riverside Senior Partner Joe Lee.
To date, Riverside has invested in several successful franchise companies, growing them through operating expertise and strategic add-ons. Led by an experienced senior advisor, the Riverside Franchising Specialization team seeks to source and integrate add-on opportunities, drive growth and capture potential.
Working with Schlachet and Lee on the deal for Riverside were Senior Associate Caroline Peck, Associate Alexander Abramovitz, Analyst Baylor McCrary, Operating Partner John Gustafson and Finance Director David Mondrus. Managing Partner, Origination, Jeremy Holland and Vice President, Origination, Stephen O’Hara, sourced the deal for Riverside.