Azalea Capital invests in ASAP Response, Inc.

GREENVILLE, SC – Azalea Capital is pleased to announce its recent investment in ASAP Response, Inc. (“ASAP”) which operates several franchises of Rainbow Restoration (“Rainbow”).  Rainbow, a division of Neighborly® home services, is a leading provider of home and commercial restoration services. Their comprehensive services include water, smoke and fire damage restoration, mold removal, and full-scale reconstruction. 

Founded in 2009 by Reed Mattingly, ASAP has earned a reputation for professionalism and compassion in helping clients recover from property damage. Over the past 16 years, the company has built a talented team committed to delivering high-quality restoration work with integrity and care. Mattingly will continue as CEO and remain a shareholder following the investment. 

Simultaneous with this investment, Azalea combined ASAP with its existing investment, Rainbow Restoration of Greenville, SC to form Southeastern Restoration Holdings, Inc. which will operate Rainbow Restoration franchises in several markets in South Carolina (Greenville, Spartanburg, Columbia, Charleston, Hilton Head, and Myrtle Beach), North Carolina (Asheville), and Georgia (Savannah). 

“We are excited to partner with Azalea Capital and to join forces with John Wheeler and his team,” said Mattingly. “Their alignment with our culture and investment in the growth of our people will help us elevate our service and expand our reach while staying true to what makes our Rainbow franchises so well-regarded in the markets we serve.” 

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 ([email protected]).