Greenix Pest Control, a subscription-based residential pest control service company headquartered in Orem, Utah, has partnered with Riata Capital Group, a Dallas, Texas-based private equity firm. The deal marks Riata’s first transaction in the consumer services sector. The deal was completed on Feb. 1; terms of the investment were not disclosed.
“We are excited to have Riata as our investment partner. They are a great fit for our company culturally and strategically,” Bob Nilsen, CEO of Greenix, said in a news release. “Both our customers and our teams in the field know they have our 100 percent commitment, which has been a cornerstone of our success in building Greenix to date. Our partnership with Riata will build upon this commitment as they bring considerable experience and resources to help further elevate the business while allowing us to remain true to our mission and vision.”
Founded in 2011, Greenix provides residential pest control services to customers in 13 markets in the Midwest, Mid-Atlantic, and Eastern United States.
“We have been impressed by the unique platform that Bob Nilsen, Bridger Thomas and their team have built in Greenix, creating a high-quality, next-generation pest control services provider committed to excellent service and customer satisfaction,” Barron Fletcher, Managing Partner of Riata Capital Group, said in the news release. “Their commitment to their people, high-energy culture and strong management and infrastructure have allowed them to build and scale a differentiated platform within the sector. Based on our team’s experience building leading numerous multi-site consumer platforms, we believe we represent a great value proposition for Greenix as their investment partner. We look forward to contributing to their continued growth in existing markets and their successful entry into new ones.”
Founded in 2015, Riata Capital Group invests the following sectors: consumer products and services, business services, energy and healthcare. Prospective transaction situations include recapitalizations, buyouts, divestitures, growth capital investments, and consolidations. According to the news release, the firm plans to allocate $150 million to $200 million of capital to the home services sector in the next few years.