F.N.B. Capital Partners has provided mezzanine debt and preferred stock to support the recapitalization of DBi Services, a provider of infrastructure maintenance services.
“We are extremely excited to invest with this management team, who collectively are both leaders and innovators within their industry,” said Stephen Gurgovits, Jr., Managing Partner for FNBCP. “We expect the company will continue to capitalize on the increasing trend of outsourcing highway and rail maintenance projects.”
DBi provides infrastructure maintenance, operations and management services to government agencies, utilities, private industries, railways, retailers and other infrastructure owners. The company was founded in 1978 and is headquartered in Hazleton, PA (www.dbiservices.com).
FNBCP partnered with Alcentra (www.mezzanine.alcentra.com) and KCAP Financial (www.kcapfinancial.com) to provide the mezzanine debt and preferred stock in the recapitalization.
“It was a pleasure working with our two financing partners, and we were fortunate to have such an opportunity”, said Matthew Harnett, Partner for FNBCP.
Other parties involved in the transaction included M&T Bank (www.mtb.com) as the senior lender and investment bank Griffin Financial Group (www.griffinfingroup.com) served as the financial advisor to DBi.
© 2014 PEPD • Private Equity’s Leading News Magazine • 3-28-14
