Milliken Sells MilliCare to PE Firm Riverside Capital
Cleveland, OH, December 10, 2021-The Riverside Co. has announced the acquisition of Milliken’s MilliCare Floor & Textile Care of Spartanburg, South Carolina, as an add-on for its Clintar portfolio company.
Financial terms of the deal were not disclosed.
Clintar is a Canadian franchising platform for a wide network of commercial property maintenance and cleaning services. That array of services makes for a complementary tuck-in company for Clintar.
The change in ownership will transfer more than 30 franchisees and 40 locations to Riverside's portfolio, which includes franchisors like Clintar and Threshold Brands. Milliken will continue to manufacture and supply MilliCare with its selection of carpet dry cleaners and care solutions, according to Riverside.
Riverside is a global private equity firm co-headquartered in Cleveland that invests in growing businesses valued at up to $400 million.