HighGround Restoration Group Sold to Knox Lane

HighGround Restoration Group Office

News Summary

Trivest Partners has sold HighGround Restoration Group to Knox Lane, marking a key milestone in their Discovery Fund I. HighGround, known for its innovative approach in water damage restoration, has seen significant growth since its founding in 2020. With its impressive expansion and increase in revenue, the company has become a major player in the restoration industry. Knox Lane’s acquisition is a strategic move, aligning with their investment focus on service-oriented businesses, as HighGround looks forward to a promising future under new ownership.

Exciting Changes in Coral Gables: HighGround Restoration Group Finds a New Home!

In the sunny city of Coral Gables, Florida, some buzzing news has emerged from the business world! Trivest Partners, a powerhouse in private equity, has officially sold its portfolio company, HighGround Restoration Group, to Knox Lane—a prestigious private equity firm based in San Francisco. This sale marks a significant milestone for Trivest, as it represents the very first exit from its Discovery Fund I, which has been nurturing HighGround for five whole years.

Meeting the Growing Demand

If you’re not familiar with HighGround, let me give you the lowdown. Founded back in 2020, the company quickly carved a niche in the water damage mitigation and restoration sector by acquiring Dry Force, a well-established restoration business located in Texas. This savvy move laid the groundwork for HighGround’s subsequent growth and expansion strategy.

Fast forward to 2022, and HighGround unveiled a fresh new brand, signaling its ambition to further cement its position in the industry. Under the strong leadership of CEO Ben Balsley, this growing firm sprang into action, making impressive strides in business development.

The Numbers Speak for Themselves

Under Trivest’s stewardship, HighGround underwent a dramatic transformation. The company expanded its footprint, making over a dozen add-on acquisitions of family-run businesses— a trend that showcases Trivest’s dedication to fostering growth while maintaining the family-centric values that drive these local enterprises. Talk about expanding the family!

As a result of its aggressive growth tactics, HighGround experienced a jaw-dropping revenue increase of more than twelvefold! Yes, you read that right! Who wouldn’t want to see their profits multiply like that? The company now boasts a workforce of nearly 700 employees across an impressive 13 states, up from just 68 when Trivest first took the reins.

With annual earnings estimated to be between $1 million to $10 million, HighGround has positioned itself as a formidable player in the restoration industry. Its specialized services are in high demand, and with such growth, it’s easy to see why Knox Lane saw the potential and decided to jump on the opportunity.

Knox Lane: A Match Made in Business Heaven

Knox Lane isn’t just any private equity firm; they manage a staggering $2.5 billion in assets! Their investment focus leans toward businesses in the services and consumer sectors, which makes HighGround a perfect match for their portfolio. Other businesses they currently have under their wing include AllStar Healthcare, Any Hour, and Elevation Labs, showcasing their commitment to fostering successful enterprises.

Looking Ahead

Following this transaction, Trivest’s Discovery Fund I still has nine exciting portfolio companies to nurture and develop, including ASA Safety Supply, Brightstep, and Office Pride Commercial Cleaning Services. Even with the exit of HighGround, Trivest remains a significant force in the market, managing over $6 billion in assets across its various investment avenues. What’s next for them? Only time will tell!

A Bright Future For HighGround

The sale of HighGround Restoration Group to Knox Lane is more than just a transaction; it’s a testament to the hard work and dedication of everyone involved. As HighGround looks to the future under new ownership, there’s a buzz of excitement about what lies ahead. With such a solid foundation and a clear vision, there’s no doubt that HighGround will continue to thrive and flourish in the restoration space.

So, here’s to new beginnings and a bright future for HighGround in Coral Gables and beyond!