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Gold Ridge Asset Management invests in SIB Development & Consulting

Publication: Charleston Business Journal Published: May 29, 2014 Full Article

By Liz Segrist

Published May 27, 2014 Gold Ridge Asset Management, a Johns Island-based private equity firm, has made an undisclosed investment in SIB Development & Consulting and will become deeply involved in the day-to-day management of the Charleston consulting firm, according to a news release.SIB Development & Consulting works with restaurant groups, hospitals, universities, government agencies, Fortune 500 companies and other organizations to analyze and reduce their fixed monthly costs.“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,” SIB founder and CEO Dan Schneider said in a statement.According to Gold Ridge President Michael Knox, his company’s mission is to invest in stable and profitable companies along the East Coast that have a solid platform and need a partner to take them to the next phase of growth.

“SIB is a perfect fit for those criteria, and we’re also pleased to be supporting a local Charleston company,” Knox said.

Late last year, Gold Ridge invested $1 million in Silicon Harbor Ventures, a new venture capital fund that targets early and growth-stage technology companies in the Charleston region.

SIB Development was founded in 2008. Gold Ridge Asset Management LLC is a private equity and investment firm with offices in New York and Charleston.

Reach staff writer Liz Segrist at 843-849-3119 or @lizsegrist on Twitter.