A private equity firm has acquired Flanders-based radon testing and treatment company RAdata, it announced Thursday.
RAdata, which it described as the first and largest such company in the state of New Jersey, is the first in a planned series of strategic acquisitions designed to create a national home services provider platform, Detroit-based Rockbridge Growth Equity said in a news release.
RAdata’s current executive team will maintain its operational roles, with plans to grow staff. David Grammer, CEO, and Joanne Grammer, vice president and administrative director, will become equity partners in the new venture, Rockbridge noted.
“We are proud to have built RAdata into one of the leading providers of radon mitigation and water treatment services in the industry,” David Grammer said in a prepared statement. “We’re very excited about the opportunity to work with Rockbridge to build out a national platform through which the best practices that we’ve developed at RAdata can be leveraged to provide substantial value and health benefits to homeowners across the country.”
Financial terms of the deal were not disclosed.