Announces First Partnership with Ashton McGee Restoration Group
Garnett Station Partners (“Garnett Station”), a New York-based principal investment firm that manages over $2 billion of assets, today announced the launch of FirstRidge Service Partners (“FirstRidge”), a newly formed residential and commercial services platform focused on roof replacement, repair and other exterior services, in partnership with Abe Hidary, who will serve as Chief Executive Officer.
The residential and commercial services market is highly fragmented, and FirstRidge was created with the vision of building a leading network of premier roofing and exterior service providers by partnering with best-in-class founders and management teams nationwide. As part of today’s launch, FirstRidge also announced its first partnership with founder-led, Minnesota-based Ashton McGee Restoration Group (“AMRG”) to accelerate growth and expand its geographic footprint in providing customers with a range of roofing solutions.
“We are incredibly excited about the platform opportunity in residential and commercial services and, in working with Abe, we believe FirstRidge has tremendous potential,” said Alex Sloane, Co-Founder and Managing Partner at Garnett Station. “Abe is a natural fit to lead this platform, given his experience investing in and building consumer and services businesses through acquisition. We are thrilled to provide FirstRidge with growth capital and strategic resources to turbocharge acquisitions and organic growth.”
Mr. Hidary commented, “By prioritizing quality, service and consumer experience, and by investing in talent, infrastructure and technology, FirstRidge will become the partner of choice for like-minded founders in the industry. We are lucky to have developed a great partnership with Ashton and Tony, the founders of AMRG, and we look forward to working together to provide the residential and commercial services industry with enhanced solutions together.”
Ashton McGee, Founder and CEO of AMRG, said, “We are excited to partner with FirstRidge and Garnett Station, given the firm’s expertise in rapidly scaling businesses and investing in growth.”
Tony Wells, President of AMRG, added, “We are extremely motivated by the opportunity to quickly expand our geographic footprint and offer our best-in-class services to a wider community of customers when they need it most.”
About Garnett Station Partners
Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $2 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health & wellness, automotive, and food & beverage. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit www.garnettstation.com.
About FirstRidge Service Partners
FirstRidge Service Partners is building a leading network of premier roofing and exterior service providers by partnering with best-in-class founders and management teams nationwide. FirstRidge prioritizes quality, service and the consumer experience, and is committed to supporting its partner companies with investment in talent, infrastructure and technology.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231114042555/en/
Contacts
Gagnier Communications
Dan Gagnier / Lindsay Barber
GSP@gagnierfc.com
