Duracoatings (DCI) provides metal finishing services for hydraulics, pumps, valves, and drilling tools that are used in the oil and gas industry. Services include electroplating, thermal spraying, grinding, and polishing. Duracoatings specializes in providing chrome reworking and coating of down-hole motor-related tools. The company was founded in 1993 by Cliff Smith, Sr. and is based in Oklahoma City, OK (www.dciind.com).
“We chose to partner with Mr. Smith and DCI because we see tremendous opportunities ahead,” said Jeffery Christman, Managing Director of Rock Hill. “Two decades of positive results and a solid customer base help position DCI for strong growth. Moving forward, we plan to help Mr. Smith and his team streamline the operations, expand beyond current end markets into new ones and embrace new plating technologies, including the most recent addition tungsten carbide spray coating to its service offering. With limited competition in the arena, we see significant value enhancement opportunities ahead.”
“What struck me most about Rock Hill as an investment partner was their interest in partnering with us rather than taking over,” said Cliff Smith, Sr., Chairman of DCI. “They worked with us to develop a solid plan to streamline and consolidate our operations in order to better prepare us for significant growth and expansion. I’m confident that the future of DCI is on solid ground.”
Rock Hill Capital Group invests in small-to-lower middle market companies with enterprise values up to $75 million and EBITDA of less than $10 million that are located in the South and Southeast regions of the US. Sectors of interest include industrial and energy services and value-added distribution. Rock Hill has over $140 million of committed capital under management through Rock Hill Capital I, LP and Rock Hill Capital II, LP. The firm was founded in 2008 and is based in Houston (www.rockhillcap.com).
© 2013 PEPD • Private Equity’s Leading News Magazine • 12-18-13