Response Team 1 acquires three companys, gains investor
WHEELING - Response Team 1 has expanded its nationwide presence through the acquisition of one national and two regional property restoration firms, and has secured investment support from Nautic Partners in Providence, R.I.
Response Team 1 purchased Venturi Restoration in Philadelphia; Emergency Reconstruction in Raleigh, N.C.; and JFS Construction Group in Van Nuys, Calif. Each provides a wide range of property restoration services, often in response to weather events and other disasters. Terms of the acquisitions were not announced.
Venturi Restoration is a national restoration and remediation firm serving the multifamily industry from 17 offices in 15 states. Emergency Reconstruction is a property restoration company serving Raleigh and Fayetteville, North Carolina. JFS Construction provides residential and commercial restoration services in the southern California region.
"Our strategy is to expand our national presence and solidify our position as a leading property restoration and multifamily renovation company in the country," said John M. Goense, chairman and CEO of Response Team 1. "The addition of these premier restoration and renovation firms to our best-in-class group of operating companies meets that goal and raises the bar in terms of operating excellence in additional markets.
The companies will retain its leadership, Goense added.
"This collaborative relationship will enhance their abilities to deliver high-quality services to their clients," he said,
Nautic Partners, a private equity firm focused on investments in middle market companies across a range of industries that includes health care, industrial products, and outsourced services, will complement the investments from founders Goense and Erik Bloom, the company's vice chairman.
"The investment by Nautic supports our continued and rapid growth as we continue to acquire premier restoration and remediation firms across the country," said Goense.
Response Team 1 is the nation's second largest property restoration company serving 30 states from 49 locations.