Johnny on the Spot (JOTS) is a provider of portable toilets and related products to the special event and construction industries, as well as residential and commercial septic system maintenance, inspections, repairs and installations in New Jersey, New York and Pennsylvania. The company was founded in 1969 and is headquartered in Old Bridge, NJ (www.johnnyonthespot.com).
“We are very excited to have JOTS join the Balance Point portfolio. This transaction is quintessential Balance Point: helping successful businesses like JOTS enter the next chapter in their evolution by providing differentiated capital and leveraging our network. We look forward to supporting the many men and women who comprise the JOTS team and have contributed to its growth trajectory,” said Justin Kaplan, a Partner with Balance Point.
Balance Point Capital Partners invests from $5 million to $20 million of mezzanine and equity in lower middle market companies that have revenues of $10 million to $150 million and EBITDAs between $2 million and $25 million. Sectors of interest include business services, niche manufacturing, consumer & industrial, branded products, aerospace & defense, healthcare, and technology. Balance Point Capital Partners was founded in 1988 and is based in Westport, CT (www.balancepointcapital.com).
JOTS’ president and owner, Jesse Thompson, will continue in his current position and remains a significant shareholder in the company. “I am very excited about the partnership with Balance Point. I am looking forward to working with my new capital partners to help facilitate and support our growth efforts as we enter a new phase for the company,” said Mr. Thompson.
© 2014 PEPD • Private Equity’s Leading News Magazine • 4-22-14