#United States #New York #Ridgemont Equity #CRS #Reverence Capital

CRS Transitions Ownership to Ridgemont Equity Partners

CRS, a prominent technology-driven provider specialized in temporary housing solutions and managed repair services, has made headlines with its recent announcement of selling to Ridgemont Equity Partners. This transition marks a significant development in the company's journey, which has seen notable growth under its previous owner, Reverence Capital Partners.

Founded over 35 years ago, CRS has built a reputation for delivering seamless and efficient support for policyholders facing housing crises, particularly following unfortunate events that displace them from their homes. The company's approach combines technology with personalized service to offer high-quality accommodations and repair solutions for insurance carriers and their clients.

Reverence Capital Partners acquired CRS in December 2021. During their four-year tenure, significant strides were made in expanding the company’s client base and improving its operational capabilities. The partnership between Reverence and CRS was marked by transformative strategic investments, including groundbreaking initiatives like the Managed Repair Program launched in 2024. This program allowed CRS to provide quicker and more effective home repair services, enhancing its position in the market and effectively doubling its adjusted EBITDA.

Christopher Hunter, CEO of CRS, expressed gratitude towards Reverence Capital for their unwavering support and partnership throughout this journey. He noted that the extensive collaboration played a critical role in the company's achievements and current market positioning.