DBi Services, a portfolio company of Sterling Partners, has acquired the assets of TME Enterprises, a provider of transportation and facilities management services in Virginia and Florida. Sterling Partners acquired DBi Services in August 2016.
The services provided by TME range from complete DOT right-of-way and facilities management to single activity service contracts for various government and commercial customers. The company has a fleet of more than 260 trucks and 560 pieces of equipment and currently owns and operates the largest private snow removal fleet in Virginia, primarily providing right-of-way asset maintenance services to the transportation industry. Founded in 1992 as a lawn care business by Matt Ehrenzeller, TME today employs over 300 people and operates out of 14 locations throughout Virginia and Florida. The company is based in Chesapeake, VA (www.tmeenterprises.com).
DBi Services is a provider of outsourced maintenance services to government agencies, railways, utilities and private companies. Company provided services include lake and pond management, vegetation management, grounds maintenance and landscaping, traffic sign management, roadway maintenance, sign installation and maintenance, pressure washing and graffiti removal, among others. The company has approximately 2,100 employees. DBi, led by CEO Roger Zino, was founded in 1978 by Neal and Paul DeAngelo and is headquartered northeast of Philadelphia in Hazleton, PA (www.dbiservices.com).
According to Sterling, the acquisition of TME is an excellent strategic fit that supports DBi’s continued expansion of its service capabilities. TME is also a complement to DBi’s existing footprint, further expanding its geographic coverage on the East Coast.
With closing of the transaction, DBi will immediately begin to operate TME under the name DBi Services and will maintain operations in Virginia and Florida with plans to grow within these geographies. Mr. Ehrenzeller will focus on integration of the DBi and TME businesses and he will then transition into a consulting role with the combined company.
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including education, healthcare, and business services. Sterling manages over $4 billion in institutional capital. The firm was founded in 1983 and has offices in Chicago, Baltimore, and Miami (www.sterlingpartners.com).
© 2017 Private Equity Professional | January 20, 2017
