RIVERBEND SANDLER POOLS ANNOUNCES ACQUISITION OF BACKYARD PARADISE LUXURY POOLS

PLANO, Texas, Oct. 6, 2022 /PRNewswire/ -- Riverbend Sandler Pools ("Riverbend"), the leading residential pool construction, service, and maintenance provider in the Dallas – Ft. Worth metroplex, and a portfolio company of Concentric Equity Partners ("CEP"), announced the acquisition of Backyard Paradise Luxury Pools ("Backyard Paradise" or the "Company"), a Montgomery, TX-based provider of swimming pool construction, remodeling, repair, and maintenance services, and outdoor living solutions. Riverbend will be acquiring Backyard Paradise from and partnering directly with current owner Mitchell Buckley, who will remain with the Company in his current leadership role and retain an individual ownership stake. Backyard Paradise represents the Riverbend platform's fourth acquisition since partnering with CEP in 2021 and expands the platform's presence to the Houston market.

Backyard Paradise is a premier residential and commercial pool construction and service brand primarily focused on the northern and western regions of the Houston metroplex. Founded in 2015 by Mitchell Buckley, the Company has operated with a passion for working with customers to design and construct their dream backyard project. Over the last seven years, Backyard Paradise has quickly built its reputation as one of the leading pool builders in Houston, recognized for its innovative designs and quality of service. All Backyard Paradise employees will continue in their current positions with the Company, and the platform will continue operating under the Backyard Paradise brand in the Company's current markets.

"Over the past couple of years, I've considered selling my company to provide better opportunities for growth for myself and my employees. In searching for the right partner, I was able to connect with the Riverbend Sandler team and after the first meeting, I knew they were the right partner for me and my company. They have been a pleasure to work with throughout the sale process and I'm looking forward to the future growth in the Houston market," Mitchell Buckley commented.

"As we looked to expand the Riverbend Sandler market presence, Houston was the first likely place outside of the Dallas area," said Riverbend Sandler CEO Bruce Mungiguerra. "We couldn't be more excited about partnering with Mitchell and his team as our first flagship company in the Houston market. Mitchell and his team are a perfect culture fit for the organization and we're excited that he and his entire team are staying onboard to help us with future growth in the market".

Adam Lucas of Concentric Equity Partners adds: "Mitchell and the Backyard Paradise team have built an impressive Company and reputation over a short period of time. We're thrilled to plant our flag in the attractive Houston market with a partner like Backyard Paradise and continue executing upon our strategy to grow the Riverbend platform across Texas.".

Headquartered in Montgomery, TX, and serving the Houston market, Backyard Paradise is a leading residential and commercial pool construction, renovation, and service company. Founded in 2015 by Mitchell Buckley, Backyard Paradise has quickly expanded its role in the Houston metroplex. Since its founding seven years ago, the Company and has grown each year, and expanded to its current Montgomery facility that is over three times as large as the original founding location. Backyard Paradise is the continuation of an entrepreneur-led business that is ready to grow to the next level, with an impressive team of hard-working, dedicated people.

For more information on Backyard Paradise, visit www.bpluxurypools.com.

Headquartered in Plano, TX, Riverbend Sandler is the leading residential pool construction, service, and maintenance provider in Dallas Fort Worth. The Company differentiates through its specialized and high-touch design process, commitment to quality craftsmanship and customer service, and established track record of success. The Company was founded by Charles Barnes in 1981 and grown over a successful period of more than four decades to become one of the largest pool builders in the Southwest U.S. Riverbend Sandler's guiding philosophy has always been: "Don't cut corners. Take a little more time to build it right and never compromise quality craftsmanship."

For more information on Riverbend Sandler, visit www.riverbendsandler.com.

Concentric Equity Partners is a private investment firm that partners with leading middle market companies by providing capital and strategic advisory to accelerate long term value creation. Concentric's approach is simple: support entrepreneurs and operators by providing the resources required to achieve extraordinary results. The firm's investment team is made up of individuals with distinguished track records as operators and professional investors across a variety of growth oriented middle market companies.

Concentric Equity Partners is the direct investing arm of Financial Investments Corporation, a private asset management firm and family office with over $2 billion in investment commitments under management. Financial Investments Corporation was founded in 1994 by father and daughter Harrison and Jennifer Steans and has been partnering with private companies for more than 25 years.

For more information on Concentric, visit www.ficcep.com.

SOURCE Concentric Equity Partners