Dominus Capital has acquired BluSky Restoration Contractors from KLH Capital which acquired the company in May 2015.
BluSky provides restoration, renovation, environmental and roofing services to commercial and multifamily real estate projects across the US and in Puerto Rico. The company’s services include fire damage restoration; smoke mitigation; storm damage restoration; water, flood, and sewage mitigation and restoration; asbestos abatement and testing; lead-based paint remediation; mold remediation; and roof damage assessment, repair, and replacement.
BluSky, headquartered near Denver in Centennial, CO and led by CEO Kent Stemper, has 17 corporate and regional offices in Colorado, Arizona, Georgia, Tennessee, North Carolina, South Carolina, Virginia, Florida, Kansas, and California (www.goblusky.com).
“Over the past few months, our executive leadership team interviewed several private equity firms, and, in the end, the team chose exactly the right partner for BluSky, Dominus Capital,” said Mr. Stemper. “For us, our culture is paramount. Dominus clearly understood this. Their expertise in growing middle-market firms and partnering with them on strategic acquisitions is exactly what is needed for us at this stage.”
“We are looking forward to partnering with Kent and the entire management team at BluSky,” said Ashish Rughwani, a Partner at Dominus. “We are eager to apply our network and knowledge of the restoration and environmental remediation space to support the company’s strong organic growth potential and pursue add-on acquisitions in adjacent geographies and complementary service offerings.”
Dominus Capital makes control equity investments in North American middle market companies that have at least $10 million of EBITDA. Sectors of interest include business services, consumer products and services, and light industrial. The firm was founded by Gary Binning, Bob Haswell, and Ashish Rughwani – all former Quad-C Management executives – in 2008. The group of founding partners was later joined by several CEOs of past portfolio companies that now serve as operating partners of the firm. Dominus Capital is headquartered in New York (www.dominuscap.com).
KLH Capital is an SBIC-licensed private equity firm that invests in niche manufacturing, value-added distribution and specialty service companies with revenues of at least $10 million and EBITDA of at least $2 million. The firm is headquartered in Tampa (www.klhcapital.com).
© 2018 Private Equity Professional | August 17, 2018
PRISM Spectrum Holdings, a portfolio company of The White Oak Group, has acquired Environmental Holdings Group, an environmental and demolition contractor.
PRISM is a specialty contractor that provides asbestos abatement, interior demolition, mold remediation, and disaster restoration services to commercial, industrial, manufacturing, and state and federal government customers nationwide. Operating companies owned by PRISM include PRISM Response, Spectrum Environmental, and Copper Environmental. The company, headquartered in Pittsburgh, was founded in 2010 and has six offices in Pennsylvania, Florida, Texas, Montana and Arizona (
“We are excited about the combination of PRISM and EHG and resulting capabilities it affords clients in the markets we serve,” said Chris Melton, Chairman and CEO of White Oak. “The companies have worked together in the past and share a common ‘customer-first’ culture while building a great work environment for their employees.”
The White Oak Group invests in lower middle market companies in the service and technology industries that derive a majority of their revenue from government contracting. Typical target companies will have at least $10 million in revenue and $1 million in EBITDA. Sectors of interest include aerospace and defense, environmental services; and information technology. The firm is based in Atlanta (
Silver Oak Services Partners has acquired Innovative Discovery in partnership with the company’s senior management team.
“This is an exciting opportunity for Innovative Discovery to enhance our position as a market-leading eDiscovery company providing the highest quality service and offering a broad suite of innovative solutions to our clients,” said Mr. Outlaw. “Equally important, our partnership with Silver Oak has enabled us to get a considerable amount of equity into the hands of our management team.”
Silver Oak and ID are actively looking for add-on acquisition opportunities. “We are excited to partner with the team at ID. The company has developed a strong reputation as a high-quality provider of end-to-end eDiscovery solutions, and we look forward to working with them to execute their growth strategy,” said Greg Barr, Managing Partner at Silver Oak.
Silver Oak Services Partners makes control investments of $10 million to $30 million in companies with revenues from $15 million to $150 million and EBITDAs from $4 million to $20 million. As the firm name implies, sectors of interest include business, healthcare, and consumer services. Silver Oak was founded in 2005 and is based in the Chicago suburb of Evanston (
Ancor Capital Partners and Sentinel Capital Partners have sold WellSpring Pharma Services to publicly-traded ANI Pharmaceuticals for $18 million in cash.
“We are extremely pleased with our WellSpring business investment,” said Randall Keene, a founding partner at Ancor. “On our watch, the operation was able to advance its position as a market leader and has emerged into a powerful platform poised for continued and sustainable growth.”
Ancor Capital Partners invests in companies with enterprise values of $25 million to $150 million that have EBITDAs from $5 million to $15 million. Sectors of interest include manufacturing, distribution, healthcare, consumer staples, and outsourcing. The firm is headquartered in the Dallas suburb of Southlake, TX (
Sentinel Capital Partners invests in management buyouts, recapitalizations, corporate divestitures, and going-private transactions of businesses with EBITDAs up to $65 million. Sentinel targets eight industry sectors: aerospace & defense, business services, consumer, distribution, food & restaurants, franchising, healthcare, and industrials. The firm is headquartered in New York (
ANI Pharmaceuticals (NASDAQ: ANIP), the buyer of WPS, is a specialty pharmaceutical company that develops and manufactures liquid, powder and oral solid dose products. ANI also provides contract manufacturing services for other pharmaceutical companies. The company has a combined manufacturing, packaging and lab capacity of approximately 170,000 sq. ft. and is headquartered in Baudette, MN (
