Charleston, S.C.-based Gold Ridge Asset Management, a private equity firm, has announced it will invest in and help manage the day-to-day operations of Charleston, S.C.-based SIB Development & Consulting, according to a Yahoo Finance report.
SIB is a consulting firm that specializes in helping organizations achieve fixed monthly cost reductions by identifying where the companies are overpaying for services, such as maintenance contracts and utilities.
"The partners at Gold Ridge bring a significant amount of management experience and we are excited about having them as an active part of our team as we look to capitalize on our existing model while also expanding into new sectors," said Dan Schneider, founder and CEO of SIB, in the report.
"We typically look to invest in companies who have built a solid platform and need a partner to provide strategic financial support to take them into their next phase of growth," said Michael Knox, president of Gold Ridge, in the report. "SIB is a perfect fit for those criteria."
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