GREENVILLE, SC - Azalea Capital is pleased to announce its recent investment in Rainbow Restoration of Greenville, SC (Rainbow).  This marks the fourth platform investment in Azalea’s sixth investment fund.

Rainbow Restoration, a division of Neighborly® home services, is a leading provider of home and commercial restoration services in the Upstate region of South Carolina. Their comprehensive services include water, smoke and fire damage restoration, mold removal, and full-scale reconstruction. The Company was founded in 1999 by John Wheeler, who will continue as CEO and a shareholder.  Over the years Rainbow has built a reputation for excellence and service, delivering exceptional service to clients facing challenging and stressful times of loss. The Company has assembled a talented and dedicated team of professionals who serve their customers with compassion and high standards of excellence. 

“We are thrilled to partner with Azalea Capital,” said Wheeler. “Their commitment to our values and support in helping our team members reach their full potential aligns perfectly with our goals. This partnership will allow us to expand our reach and continue providing world-class service throughout the Upstate of SC in the coming years.”

The transaction was supported by Southern First Bank, which provided senior debt, and Salem Investment Partners, which contributed subordinated debt and equity co-investment alongside Azalea Capital.

For more information, please contact Ed Stein, Director of Business Development at Azalea Capital (estein@azaleacapital.com).

About Azalea Capital 

Azalea Capital is a private investment firm headquartered in Greenville, SC. Azalea partners with entrepreneurs, management teams, and family-owned companies by providing investment capital and operating expertise to enhance the long-term value and growth prospects for each investment. Azalea’s primary focus is to invest in companies located in the Southern and Midwest regions of the U.S., which operate in the Food, Consumer, Ag, Pet, and Industrial markets. 

About Salem Investment Partners

With offices in Charlotte and Greensboro, NC, Salem Investment Partners is an investment firm with over $500 million under management. Specializing in debt and equity investments in privately held, lower middle market businesses, Salem’s principals have completed over 150 investment transactions in companies across a variety of sectors and business cycles.

About Southern First Bank

Headquartered in Greenville, SC, Southern First is a leading community bank with approximately $4.1 billion in assets. Southern First has been providing financial services since 1999 and operates in 13 locations in the Greenville, Columbia, and Charleston markets of South Carolina as well as the Charlotte, Triangle and Triad regions of North Carolina and Atlanta, Georgia. 

About Rainbow Restoration® 

Rainbow Restoration®, a Neighborly® company, is a global franchise providing residential and commercial restoration and cleaning services from more than 400 locations worldwide. Established in 1981, Rainbow Restoration® is part of Neighborly®, the world's largest home services company, with more than 30 brands and 5,500 franchises in six countries that have collectively served 14 million+ customers by repairing, maintaining, and enhancing their homes and businesses.

For more information, please contact Ed Stein, Director of Business Development at Azalea Capital (estein@azaleacapital.com).