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Hidden River Strategic Capital announced its platform investment in Restoration Alliance, a leading franchisee within the ServiceMaster Restore franchise system. Hidden River partnered with existing management and Taurus Capital Partners to recapitalize the business and provide growth capital. Headquartered in Seattle-Tacoma, Washington, Restoration Alliance (d/b/a ServiceMaster of Tacoma) provides commercial disaster restoration services, including water mitigation, fire and smoke damage restoration, and related contents cleaning and storage.
Restoration Alliance has been owned and led by the Sorenson family for over 30 years. CEO Jeff Sorenson will continue in his current role while also overseeing the company's new growth initiatives as the business looks to expand from a regional leader to a national player in the disaster restoration industry.
Kevin Condon, co-founder and Partner at Hidden River, expressed enthusiasm for the partnership: "Jeff and his team have built a great business with a reputation centered around high-quality service and operational excellence. We are excited to partner with Jeff as well as Taurus as we collectively grow the business through strategic acquisitions and organic expansion."
Sorenson echoed those sentiments, stating, "The approach taken by Hidden River and Taurus is markedly different – and rather refreshing – compared to alternative private equity options. It is more collaborative and relationship-based, which was important to me as I sought out partners who would appreciate and respect what we have built while also helping us expand on our successes."
With a history dating back over 65 years and over 800 franchised locations across 14 countries, ServiceMaster Restore is one of the largest and most reputable disaster restoration brands in the world. Griffin Gordon, founder and CEO of Taurus Capital Partners, comments: "We are honored to be a part of the ServiceMaster Restore family and look forward to further growing the brand as we expand our operations across the country."