The Riverside Company has acquired Salt Lake City-based Real Property Management, a property management franchise, as an add-on for its Dwyer Group platform. No financial terms were disclosed. Jones Day provided legal counsel on the deal for Riverside while Madison Capital, GE Capital, NXT Capital, NewStar Financial, Midcap Financial and Ares Capital provided financing for the transaction.
The Riverside Company has completed another add-on to its Dwyer Group platform with an investment in Real Property Management, the largest property management franchise in North America. Dwyer is a parent company of service brands, representing 20 consumer brands, 18 of which are franchised.
Based in Salt Lake City, Real Property Management helps owners of residential properties protect and maximize property investments. Its deep experience and national network of more than 300 franchisees help clients with services like rent collection, maintenance, leasing and legal requirements. It primarily serves rentals owned by smaller, non-institutional property owners, such as individual homes, condos and small apartment buildings.
“We’re excited to continue expanding on Dwyer’s large global market share with this outstanding addition,” said Riverside Managing Partner Suzy Kriscunas. “Real Property Management fits in with Dwyer’s commitment to help people ‘repair, maintain, and enhance’ properties, and it has tremendous growth potential.”
Including Real Property Management, the 11th add-on completed during Riverside’s hold, Dwyer has more than 3,100 franchisees and eight support centers in North America, the UK and Germany. This new franchise concept opens significant cross-selling opportunities with Dwyer’s portfolio of services.
“Real Property Management further expands Dwyer’s concepts to offer just about any service a property owner may need,” said Riverside Vice President Jason Fulton. “We are excited about the potential to leverage Dwyer’s experience in the franchising across Real Property Management’s large network, which covers 46 states and Canada.”
Working with Kriscunas and Fulton on the transaction for Riverside were Partner Meranee Phing, Senior Associate Chase Eckert, Associate Connor Ryan and Operating Partner Tom Anderson.
Jones Day provided legal counsel on the deal for Riverside. Madison Capital, GE Capital, NXT Capital, NewStar Financial, Midcap Financial and Ares Capital provided financing for the transaction.
About The Riverside Company
The Riverside Company is a global private equity firm focused on making control and non-control investments in growing businesses valued at up to $400 million. Since its founding in 1988, Riverside has invested in more than 500 transactions. The firm’s international portfolio includes more than 80 companies.