Ridgemont Equity Partners has acquired CRS, a company specialising in temporary housing and managed repair services, from Reverence Capital Partners. 

Financial specifics of the deal remain undisclosed.  

CRS works closely with major US insurers.  

The company assists policyholders with immediate accommodation arrangements and supports them in finding temporary housing for the duration of repair work.  

Through its managed repair platform, CRS oversees the home repair process by working with a network of vendors on behalf of both insurers and policyholders. 

CRS CEO Christopher Hunter said: “Under Reverence Capital’s ownership, CRS more than doubled its adjusted EBITDA [earnings before interest, taxes, depreciation and amortisation] and is now exceptionally well positioned for sustained long-term growth.  

“We have enjoyed a strong working relationship with Reverence Capital, who have been an exceptional partner, and whose engagement and support played a key role in achieving these results.”  

Reverence Capital initially invested in CRS in December 2021. 

During its ownership, the company collaborated with CRS’ leadership to grow its customer base, strengthen information technology infrastructure, and acquire Assured Relocation.  

In 2024, CRS launched a Managed Repair Programme designed to coordinate home repair and restoration services for insurance companies and their policyholders. 

The senior leadership team at CRS will remain invested in the business along with Ridgemont.

Ridgemont principal Eric Langerman said: “Within our business services sector practice and over the past handful of years, Ridgemont has intently evaluated many insurance services companies in search of a platform investment that leverages domain expertise, technology and commitment to customer service to create differentiation. CRS fits squarely into that framework.”