Turnbridge Capital has completed an equity recapitalization DeBusk Services Group, a provider of industrial cleaning services in the energy sector.
DeBusk Services Group (DSG) provides mechanical and industrial cleaning services to refining and petrochemical facilities. Services include hydro-blasting, hydro-cutting, chemical cleaning, transportation, tank cleaning, and vacuum services. DSG was founded in May 2012 by its CEO Andrew DeBusk. The company operates 16 facilities across the country and is headquartered in the Houston suburb of Pasadena, TX (www.debusksg.com).
In 1999, Mr. DeBusk founded DeBusk Industrial Services Company which was sold to Inland Industrial Services Group, a portfolio company of Strength Capital Partners, in 2008. In 2013, Inland Industrial was sold by Strength Capital Partners to HydroChem, a portfolio company of Centerbridge Partners.
“Our investment in DeBusk Services Group places us in partnership with an exceptional management team with a proven track record of value creation through organic and strategic growth initiatives,” said Mitch Cox, a partner at Turnbridge Capital. “DSG’s reputation for being a reliable, skilled, and safe provider of both routine and mission critical industrial cleaning and mechanical services has allowed the company to build a blue-chip customer base and experience significant growth that we expect to continue in the future.”
Turnbridge Capital invests in companies that provide services and manufactured products in the upstream, midstream and downstream energy sectors. Typical transactions involve companies which range in enterprise value from $25 million to $250 million. The firm was founded in 2008 and has offices in Dallas and Houston (www.turnbridgecapital.com).
“Fundamentally, it comes down to partnering with quality people. With that top of mind, the DeBusk Services family is pleased to be joining forces with Turnbridge Capital,” said Mr. DeBusk. “Over the past nine months, we have had the opportunity to lay the foundation for a partnership that will allow the company to meet and exceed the growth targets we have set. It has been a pleasure developing this relationship and we look forward to benefiting from Turnbridge’s wealth of strategic knowledge.”
Brown Gibbons Lang & Company (www.bglco.com) was the financial advisor to DeBusk Services Group on this transaction.
© 2016 Private Equity Professional • 6-23-16
