Ridgemont Equity Partners has acquired Dickinson Fleet Services, a provider of vehicle fleet maintenance services.
Dickinson Fleet Services (DFS) provides repair and maintenance services for vehicle fleet owners and operators across the United States. The company operates a network of mobile technicians (the company has 165 mobile maintenance trucks nationwide) in addition to 15 branch locations and a national fleet maintenance program. The company utilizes a software platform called Maintenance Select to manage all aspects of its customers’ fleet maintenance programs. The platform combines WebWrench, an online system used by customers to manage their fleet maintenance costs, with TRAIT, a proprietary iPad based software that stands for “Technician Reporting and Information Tool. Dickinson Fleet Services was founded in 1997 and is headquartered in Indianapolis (www.dickinsonfleet.com).
Dickinson Fleet Services is owned and operated by Bob Dickinson (CEO), Dick Dickinson (President and COO), Mike Dickinson and Ted Coltrain (Executive Vice Presidents). Mike Dickinson and Mr. Coltrain will lead the company under Ridgemont ownership going forward.
Ridgemont has experience investing in transport aftermarket businesses, most notably through its past involvement in Aurora Parts and Accessories and FleetPride, as well as other 
distribution and logistics investments. “We recognize first hand that fleet owners and operators can more effectively manage their asset pools by outsourcing repair and maintenance work and that mobile service offerings are becoming a more important piece of this effort,” said Jack Purcell, a Partner at Ridgemont. “Dickinson Fleet Services offers an attractive customer value proposition through its technology-enabled platform and flexible service model. Through organic growth and M&A initiatives, we plan to aggressively expand the geographic footprint of the company, add new customers and enhance an already strong service offering.”
Ridgemont focuses on middle market buyout and growth equity investments of $25 million to $100 million. The firm invests in the following sectors: basic industries and services; energy; healthcare; and telecommunications, media and technology. The firm is headquartered in Charlotte with an additional office in Dallas (www.ridgemontep.com).
Periculum Capital Company (www.periculumcapital.com) served as the financial advisor to Dickinson Fleet Services. Financing for the transaction was provided by Crescent Direct Lending, BMO Sponsor Finance, AlpInvest Partners and PNC Erieview Capital. BMO Capital Markets was the financial advisor to Ridgemont.
© 2017 Private Equity Professional | April 4, 2017
