Riverside Strengthens EverSmith with The SEALS Franchising Add-On
Deal News | Feb 07, 2025 | Riverside
The Riverside Company, a leading global investment firm, has bolstered its portfolio company, EverSmith Brands, by investing in THE SEALS Franchising, LLC. The SEALS specializes in refrigeration gasket replacement services for commercial kitchens and serves a variety of venues like restaurants, supermarkets, and hotels. This investment marks the fifth add-on to EverSmith, reinforcing Riverside's strategy to build a multi-brand franchisor platform in commercial business services. Riverside's Managing Partner, Loren Schlachet, highlighted the complementary nature of THE SEALS to EverSmith, expected to drive growth through franchise development synergies. The deal exemplifies Riverside's investment acumen, particularly in franchising since 1988.
Sectors
- Private Equity
- Franchising
- Commercial Services
Geography
- United States – The location where Riverside, EverSmith, and THE SEALS Franchising operate and focus their investment and growth activities.
Industry
- Private Equity – Relevant due to the investment activity by The Riverside Company, a private equity firm, in enhancing its portfolio.
- Franchising – Related to THE SEALS Franchising and the nature of operations in franchise development and expansion.
- Commercial Services – THE SEALS Franchising operates in providing critical services to various commercial entities such as restaurants and supermarkets.
Financials
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Riverside Company | Investor | Company | A global investment firm focused on the smaller end of the middle market. |
| THE SEALS Franchising, LLC | Target Company | Company | A leading franchisor providing refrigeration gasket replacement services. |
| EverSmith Brands | Portfolio Company | Company | A franchised brands platform and current portfolio company of Riverside. |
| Loren Schlachet | Managing Partner | Person | Managing Partner at The Riverside Company involved in the investment. |
| Ken Hutcheson | CEO of EverSmith Brands | Person | CEO of the acquired company aiming for network expansion and growth. |