Riverside’s Latest Investment is a Royal Flush
The Riverside Company, a global private investor focused on the smaller end of the middle market, has invested in Radiant Plumbing and Air Conditioning, Inc. (Radiant). The company provides maintenance plumbing, sewer and HVAC services to nearly 12,000 residential customers annually in the Austin, Texas, metropolitan area.
Since 1999, Brad and Sarah Casebier have owned and operated Radiant. Radiant’s employee-centric culture, coupled with an outstanding 5-star homeowner service experience, has resulted in multiple recognitions, including a multi-year win of Austin Chronicle’s ‘Best of Austin’ for both plumbing and HVAC as well as Austin Business Journal’s ‘Best Places to Work.’
“We’re thrilled to partner with Brad and Sarah to enhance the growth efforts of an already thriving organization,” said Riverside Senior Partner Meranee Phing. “We plan to assist with organic growth in Austin as well as inorganic growth in plumbing and HVAC services in Texas and beyond. This could also include the addition of complementary services, like electrical.”
Radiant is the latest example of Riverside’s deep focus and expertise investing in essential home services. For more than a decade, the firm has invested in a broad range of branded consumer companies, with a special focus on home services. Working closely with management, Riverside fosters growth through a focused approach that pairs consumer and home services expertise with the firm’s global resources.
“Radiant is a clear market leader in Austin,” said Riverside Vice President Harrison Petts. “And we look forward to continuing Radiant’s technician-friendly culture as we help increase the company’s recruiting and training pipeline to achieve our collective growth targets.”
Working with Phing and Petts on the deal for Riverside were Partner Drew Flanigan, Senior Associate Mark Fishman, Associate Max Simon, Associate Jared Beauchamp, Operating Partner Doug Milner, Managing Director of Commercial Growth Chris Davy and Senior Director of Marketing and Demand Generation Micah Leibowitz. Origination Principal Cheryl Strom sourced the deal for Riverside and Senior Partner Anne Hayes helped to secure financing.