SIB Development & Consulting said Tuesday that it has received an undisclosed investment from Gold Ridge Asset Management. Based in Charleston, South Carolina, SIB is a provider of fixed monthly cost reduction solutions.
CHARLESTON, SC–(Marketwired – May 27, 2014) – Gold Ridge Asset Management, a Charleston-based private equity firm, announced today it has made an investment in SIB Development & Consulting, a Charleston-based cost reduction consulting company.
SIB Development & Consulting was founded in 2008 and works with restaurant groups, hospitals, universities, government agencies, Fortune 500 companies, and other organizations to analyze and reduce their fixed monthly costs. Under the new arrangement, Gold Ridge Asset Management will become deeply involved in the day-to-day management of the company.
“The partners at Gold Ridge bring a significant amount of management experience and we are excited about having them as an active part of our team as we look to capitalize on our existing model while also expanding into new sectors,” said Dan Schneider, Founder and CEO of SIB.
The investment in SIB fits into Gold Ridge’s focus on investing in stable, profitable companies located on the east coast of the United States. “We typically look to invest in companies who have built a solid platform and need a partner to provide strategic and financial support to take them into their next phase of growth,” said Michael Knox, President of Gold Ridge. “SIB is a perfect fit for those criteria, and we’re also pleased to be supporting a local Charleston company.”
“We believe that the existing infrastructure will allow SIB to expand into new sectors and provide their clients with additional services to help manage their costs,” said Manish Aggarwal, Managing Partner of Gold Ridge. “With our financial services background, we recognize the value of cost reduction and we look forward to introducing SIB’s services to the portfolio companies of private equity firms, real estate investment trusts, and other organizations with multiple locations.”
About SIB Development & Consulting
SIB Development & Consulting, Inc. is a firm specializing in fixed monthly cost reduction. Unlike other consulting firms, SIB only bills based on the savings they find, and clients are not billed until savings are realized. Through expert analysis, SIB will discover if businesses have overpaid or are currently overpaying on services such as telecom, utilities, waste removal, maintenance contracts, and other recurring bills. For more information about SIB, visit their web site at www.SIBDevelopment.com
About Gold Ridge Asset Management
Gold Ridge Asset Management LLC is a private equity and investment firm with offices in New York and Charleston, South Carolina. Gold Ridge partners with managers and owners who have significant resources committed to their businesses, and provide funding for acquisitions, growth capital, and ownership changes. Gold Ridge seeks to be long term investors in the companies with whom they partner, with the goal of achieving long term growth. For more information about Gold Ridge, visit their web site at www.GoldRidgeAsset.com