Riverside completes third deal of 2018
With its third deal of the year, The Riverside Co. adds senior living advisory and placement services franchisor CarePatrol to its ComForCare platform.
“CarePatrol adds a new dimension to ComForCare’s offerings,” said Loren Schlachet, a managing partner at Riverside, in a statement. “Customers rely on ComForCare, and they have come to trust its quality of care.”
CarePatrol, which provides no-cost senior living advisory and placement services to seniors and their families, has 150 territories. It has strong relationships with health care providers and a deep understanding of the senior care market. It joins ComForCare, a franchisor of home care agencies, which has nearly 200 locations in more than 30 states and three Canadian provinces.
Riverside Partner Brian Sauer said the acquisition, “…expands the companies’ collective reach, but also enhances capabilities and provides an excellent platform for continued growth. This addition to the ComForCare platform is the first step in realizing an aggressive growth strategy in this space.”
Working with Schlachet and Sauer on the deal for Riverside is essentially the same team that worked the initial ComForCare deal back in July 2017. It includes:
- Principal Steve Rice
- Senior Associate Josh Smith
- Operating Partner John Kish
- Finance Director Michael Rath
Principal Dan Haynes helped secure financing for the deal. Rice and Smith sourced the deal for Riverside.
Legal counsel: Jones Day
Financing: Saratoga Investment Corp.
IT Diligence: West Monroe
CarePatrol is Riverside’s third deal this year. In January, Riverside added InTouch Accounting to its Brookson platform and invested in HMI Cardinal, a manufacturer and distributor of shower enclosures for residential, hospitality and light commercial use.