Riverside, a global private equity firm focused on the smaller end of the middle market, has invested in Blue Moon Estate Sales (Blue Moon), an estate sales franchise in the US.
Blue Moon provides estate sale and other services to assist seniors in downsizing or transitioning to a senior living facility. Based in Raleigh, North Carolina, Blue Moon will complement existing Riverside platform Best Life Brand’s (BLB) home care and assisted living placement services by adding services to assist seniors in the transition from living at home to a senior facility.
Riverside Partner Brian Sauer says of the deal: “Riverside’s investment in Blue Moon will provide additional support and infrastructure to build a world-class franchise system.”
“We are actively looking for similar add-ons like Blue Moon to add to our BLB platform.”
Riverside has mainly focussed on investing in smaller companies with the aim of increasing growth in its portfolio through increased capital expenditures, product expansion, research and development efforts and strategic add-on acquisitions.
Riverside Managing Partner, Loren Schlatchet, says: “Riverside has a successful track record of investing in and enhancing franchising businesses – and we’re excited to provide the same strategic guidance to Blue Moon. During our partnership, we plan to grow the company from a regional estate sale provider into a leading national player.”
Blue Moon Founder and CEO, Debra Blue, says: “We have worked hard establishing our culture and values and are pleased to have aligned with a company whose culture and values are much the same… We have been proud of bringing our services to so many families needing estate sale and downsizing services and look forward to serving many, many more. I believe the platform Riverside and Best Life Brands has developed is key as we move into the future.”
