DRB provides turnkey systems including point of sale (POS) software, loyalty promotion modules, control solutions, and related products designed for the conveyorized car wash industry. Over the course of the company’s thirty-year history, its products have been installed in all 50 states, Puerto Rico, and Canada and users of its technology solutions have cared for over three billion cars. The company was founded in 1984 and based in Akron (www.drbsystems.com).
“DRB is the unquestioned software leader for the conveyorized car wash industry, with a thirty-year history of strongly supporting their customers with their solutions,” said Tony Danielak, Prairie Capital Vice President. “We look forward to helping them build upon this success.”
Prairie Capital invests in lower middle market companies and corporate carve-outs. Typical investments will have annual revenues of $20 million to $100 million and cash flows of $4 million to $12 million. Sectors of interest include niche manufacturing, business and financial services, and education. Prairie Capital was founded in 1997 and is currently investing out of its $300 million fifth fund. The firm is based in Chicago (www.prairie-capital.com).
Investment bank Corum Group (www.corumgroup.com) advised DRB Systems on this transaction. “I greatly appreciated the very deep and thorough process we went through with Corum,” said DRB President Dale Brott. “Because of that process, we had a number of options, which means I’m confident that we have selected the right partner.”
2014 PEPD • Private Equity’s Leading News Magazine • 6-4-14