Source Capital ("Source"), through an affiliate fund, is
pleased to announce its investment in RidgeRock Retaining Walls, LLC
("RidgeRock" or the "Company"), a 25+ year old leading value-added distributor
of proprietary and patented segmental blocks and other components used to
construct retaining walls, both commercial and residential, in the Southeast
and Mid-Atlantic. Source Capital and Everside
Capital Partners provided debt and equity to support the recapitalization of RidgeRock
by private equity sponsor Cornerstone Capital Partners ("Cornerstone").
Founded in Charlotte, NC in 1998, RidgeRock
sells a robust portfolio of products, including proprietary and patented
segmental concrete blocks and synthetic geogrid to a diversified customer base
across a number of end markets within the retaining wall industry. The Company
has developed a best-in-class reputation as a leader in the retaining wall
industry, providing unrivaled customer service and a robust product offering.
"We are excited to close our first investment with Cornerstone who has significant experience in this space", said Joe Rodgers, Managing Director at Source Capital. "RidgeRock has a stellar reputation in the industry along with an impressive team, and we look forward to partnering with Cornerstone and the RidgeRock team to support the next phase of growth."
About RidgeRock Retaining Walls
Founded in 1998, RidgeRock
Retaining Walls ("RidgeRock" or the "Company") is a leading value-added
distributor of proprietary and patented segmental concrete blocks used in the
construction of segmental retaining walls to commercial, residential,
industrial, and municipal contractors and installers. The Company is
headquartered in Charlotte, NC and serves a diverse base of customers across
the Mid-Atlantic and Southeast. With a dedication to providing unrivaled
customer service and a robust product offering, the Company has developed a
highly respected reputation as a leader in the retaining wall industry. For
more information, visit www.ridge-rock.com
About Cornerstone Capital Partners
Cornerstone
Capital Partners, Inc., a private investment firm founded in 1990, acquires or
recapitalizes companies with the potential for profitable growth. Cornerstone's
strategy is centered on investing in companies with strong management, an
attractive business model, and the potential to develop a leading market
position. Cornerstone invests in companies that manufacture or distribute
commercial and industrial products or provide business services. For more
information, visit www.cornerstonecappartners.com
About Source Capital
Source
Capital is an Atlanta, GA based private investment firm that has been providing
flexible equity and debt capital to lower middle market companies for over 20
years. The firm has a value-added investing approach that brings (i) patient
capital focused on long-term value creation; (ii) collaborative partnerships
with management teams, founders/owners, private equity investors and
independent sponsors; and (iii) strategic and operational resources to its
portfolio companies. To learn more about Source Capital or to discuss a new
equity or debt investment opportunity, please reach out to a member of our
investment team or visit www.source-cap.com
About Everside Capital Partners
Everside Capital Partners is an
SEC-registered investment advisor, as well as a SBIC (Small Business Investment
Company) license holder based in New York, NY. With over $2.1 billion in assets
under management across its vehicles, Everside partners with leading SBIC
managers in the lower middle market through its primary and secondary investing
strategies, and also makes direct credit and equity investments in small
businesses through its direct investing strategies. As a flexible capital
provider, Everside offers debt and structured equity solutions for
recapitalizations, acquisitions, liquidity events, and management buyouts. For
more information, please visit us at www.everside.com