Riverside Company has invested in Northeast Inspection Consultants (NEIC) as an add-on to its portfolio company SAFEbuilt. No financial terms were disclosed.
NEIC is a building plan review and inspection agency serving municipal clients across Northeast Pennsylvania. The deal is the 19th add-on for SAFEbuilt, a national platform that provides outsourced building department services, including plan reviews and inspections, and professional services to local governments.
SAFEbuilt said the acquisition is part of its plan to expand further into the Northeastern US. Riverside managing partner Loren Schlachet said that by joining SAFEbuilt, NEIC will give its customers access to a broader suite of municipal services and the ability to leverage SAFEbuilt's proprietary technology stack.
Riverside, which focuses on the smaller end of the middle market, has completed more than 400 platform and add-on investments in the business services sector. Working on the deal for Riverside were principal Elizabeth Burke, vice president Alexander Abramovitz, associate Reece Quigley and analyst Grace Denious.
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