Powerhouse Holding Corp., a portfolio company of Dubin Clark, has completed its first add-on acquisition with the buy of Supreme-Metro Corp., a provider of asphalt, concrete, and drainage services. Powerhouse Holding Corp. is now comprised of two businesses: Powerhouse Maintenance, which was acquired in July 2016, and Supreme-Metro.
Supreme-Metro’s services include asphalt paving and milling, sealcoating, crack sealing, concrete installation and repairs, excavation and site work, drainage installation and repair, concrete leveling, and snow and ice management. The company’s customers include engineers, property managers, management companies, building owners, and developers of office parks, roadways, retail centers, and parking lots throughout New Jersey and into adjacent metro areas such as Pennsylvania and New York. Supreme-Metro was founded in 1988 by President Jason Ciavarro and is headquartered southwest of Newark in South Plainfield, NJ (www.suprememetro.com).
“I’m excited that we are expanding our company in providing additional locations and services beyond New Jersey,” said Mr. Ciavarro. “This strategic alliance with Powerhouse builds upon both companies’ core foundations, setting the stage for many years of growth and increased customer service throughout the Northeast.” According to Dubin Clark, Supreme-Metro is the market leader in New Jersey.
Powerhouse Maintenance is comprised of three businesses: Powerhouse Paving, PAM Sweeping, and Orange Sewer & Drain. Powerhouse specializes in the maintenance and repair of commercial parking lots and related areas for property managers and owners of predominantly commercial and industrial facilities, apartment complexes, strip malls and retail shopping centers. Services include asphalt paving, sealcoating, drain installation and repair, concrete installation and repair, sweeping and debris removal, floor scrubbing, power washing, and liquid waste management. Powerhouse services a variety of property owners on Long Island and the five boroughs of New York, plus Westchester County, northern New Jersey, and Connecticut. The business, led by CEO Jack O’Hayre, was founded in 1963 and is headquartered on Long Island in Islip, NY (www.powerhousepaving.com) (www.pamsweeping.com) (www.orangeindustries.com).
“We look forward to partnering with Jay and his team at Supreme-Metro,” said Mike Hompesch, a Partner of Dubin Clark. “The combined business is well-positioned to achieve substantial growth by providing high-quality services within an expanded geographic footprint.”
Dubin Clark invests in companies that have from $10 million to $100 million in sales and at least $2 million of EBITDA. Sectors of interest include manufacturing, value-added distribution, and services. The firm was founded in 1984 and has offices in Boston, MA; Ponte Vedra Beach, FL; and Greenwich, CT (www.dubinclark.com).
© 2017 Private Equity Professional | February 15, 2017
