M&A Deal Summary

Azalea Capital Acquires Rainbow Restoration

On August 7, 2024, private equity firm Azalea Capital acquired consumer services company Rainbow Restoration from Neighborly

Acquisition Highlights
  • This is Azalea Capital’s 1st transaction in the Consumer Services sector.
  • This is Azalea Capital’s 23rd transaction in the United States.
  • This is Azalea Capital’s 10th transaction in South Carolina.

M&A Deal Summary
Date 2024-08-07
Target Rainbow Restoration
Sector Consumer Services
Buyer(s) Azalea Capital
Sellers(s) Neighborly
Deal Type Divestiture

Target

Rainbow Restoration

Greenville, South Carolina, United States
Rainbow Restoration is a global franchise providing residential and commercial restoration and cleaning services from more than 400 locations worldwide. Rainbow Restoration was formed in 1981 and is based in Greenville, South Carolina.

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Buyer(S) 1

Buyer

Azalea Capital

Greenville, South Carolina, United States

Investor Investor Investor

Category Private Equity Firm
Founded 1995
Size Small
Type Sector Agnostic
DESCRIPTION

Azalea Capital is a private investment firm focused on providing equity capital to privately owned middle-market companies located in the Southeast US. Prospective transaction situations include management buyouts, divestitures, recapitalizations, and growth financings. Target companies typically have at least $10 million in revenue and are profitable with up to $8 million of EBITDA. Sectors of interest include niche manufacturing, value-added distribution, business services, consumer products, and healthcare. Azalea was formed in 1995 and is based in Greenville, South Carolina.

DEAL STATS #
Overall 23 of 24
Sector (Consumer Services) 1 of 1
Type (Divestiture) 3 of 3
State (South Carolina) 10 of 10
Country (United States) 23 of 24
Year (2024) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-26 Low Falls

Cameron, South Carolina, United States

Low Falls is a wholesale tree nursery primarily serving commercial landscaping contractors. Low Falls has over 130,000 trees planted on approximately 500 acres of prime farmland in South Carolina, serving customers throughout the Southeastern region of the U.S. Low Falls was founded in 1986 and is based in Cameron, South Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-11-08 Virginia Food Group

Wakefield, Virginia, United States

Virginia Food Group is a manufactures, markets, and distributes Virginia peanuts and snack mixes. Virginia Food Group is based in Wakefield, Virginia.

Buy -

Seller(S) 1

SELLER

Neighborly

Waco, Texas, United States
Category Company
Founded 1981
Sector Franchising
DESCRIPTION
The Dwyer Group's corporate headquarters in Waco, Texas.
The Dwyer Group's corporate headquarters in Waco, Texas.

Neighborly is a home services franchisor of 25 service brands (including Neighborly umbrella service brand) and more than 4,000 franchise owners serving 10 million+ customers in nine countries, focused on repairing, maintaining and enhancing homes and businesses. Neighborly was founded in 1981 and is based in Waco, Texas.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Services) 2 of 2
Type (Divestiture) 1 of 1
State (South Carolina) 1 of 1
Country (United States) 2 of 2
Year (2024) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-07-23 Precision Garage Door Tri-State

Pompton Plains, New Jersey, United States

Precision Door Service is a garage door repair company providing garage door replacement, repair, and installation services across the tri-state area. Precision Door Service was founded in 1999 and is based in Savannah, Georgia.

Sell -
Mergr

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