Riverside’s Latest Investment Brings Safety in Seattle
The Riverside Company, a global private equity investor focused on the smaller end of the middle market, has acquired Evergreen Fire and Life Safety, LLC (Evergreen) as an add-on to its fire and life safety platform, Performance Systems Integration (PSI). Based in Portland, Oregon, PSI is a leading single source provider of fire and life safety services in the Pacific Northwest, Mountain West and Northern California regions. The company provides customers with fire and life safety services including system inspection, service and monitoring, equipment and first-aid sales and cylinder repairs as well as installations for new construction and retrofits.
Evergreen is based in Lynwood, Washington, and provides repeating fire and life safety system inspection, repair and maintenance services and parts to customers across various industries in the Greater Seattle area.
“Evergreen is the eighth add-on to PSI under Riverside’s ownership and helps us better serve customers in the Seattle metro area,” said Riverside Managing Partner Loren Schlachet. “The combination of Evergreen and PSI will create tremendous value for the PSI platform.”
“We’re excited to help grow the strong business Evergreen has established and continuing to provide customers with exceptional levels of service while also offering new service lines to further address customer needs,” said PSI CEO Travis Everton.
PSI is committed to delivering high-quality customer service through its “single-point-of-management” compliance services for all fire and life safety installations and inspections in the Pacific Northwest and the California Bay Area. PSI also operates cylinder requalification, cylinder maintenance and fire equipment parts distribution businesses under the Fire King brand. With decades of experience in the fire and life safety industry, PSI’s mission is to help save lives by providing meaningful fire and life safety protection and training.
This is one more example of Riverside’s commitment to the Business Services industry. Riverside has invested in more than 300 platform and add-on companies in the business services sector since 1988 as part of its private equity and structured capital strategies.
“We couldn’t be more excited to add Evergreen to the PSI platform and solidify our market-leading position in the Seattle metro area,” said Riverside Partner John McKernan. “We will continue to pursue similar customer-focused fire protection companies with strong technicians and specializations in inspection, repair, maintenance and monitoring of fire and life safety equipment.”
Working with Schlachet and McKernan on the deal were Senior Associate Aakeem Andrada, Associate Alex Kozan, Operating Partner Ervin Cash and Finance Director Bart Thielen.