Osceola Capital has acquired Top Gun Pressure Washing. The buy of Top Gun is Osceola’s fourth platform investment for its current fund.
Top Gun is a provider of pressure washing and exterior facilities services to commercial businesses and local governments in the Rocky Mountain region of the US. The company’s services include pressure washing, industrial sweeping, exterior high-rise cleaning, window cleaning, environmental spill clean-up, sandblasting, graffiti removal, pavement striping and specialty cleaning. The company was founded in 1992 and is headquartered in Loveland, CO (www.topgunpressurewashing.com).
“Top Gun has been very successful over the past 27 years in becoming the largest pressure washing company in Colorado,” said Stephanie White, co-founder and president of Top Gun. “We realized that to take our business to the next level, we would need a strategic partner that shared our vision for growth and had the capital resources and operational expertise to help us execute our strategy. We look forward to working with the Osceola in this next stage of growth.”
“We are excited to have the opportunity to partner with Top Gun’s founders and management team in this investment,” said Ben Moe, a managing partner at Osceola. “We look forward to working with senior management while they continue to grow their geographic footprint and suite of services through acquisitions and new facility locations.”
Osceola makes control investments of up to $20 million in companies that have revenues of $5 million to $50 million and EBITDA of $2 million to $10 million. Sectors of interest include business services, healthcare services, tech-enabled services and industrial services. The firm was founded in 2014 and is headquartered in Tampa (www.osceola.com).
“Top Gun fits perfectly with Osceola’s investment model of backing management teams and founders at companies with long histories of success,” added Patrick Watkins, a vice president at Osceola. “Top Gun has an extensive track record of providing exceptional quality, scale and responsiveness to their customers in an environmentally friendly and compliant manner, and Osceola is proud to partner with the Top Gun team to further support that mission.”
Senior debt financing for this acquisition was provided by Saratoga Investment Corporation and Forbes M&A was the financial advisor to Top Gun.
© 2019 Private Equity Professional | August 29, 2019
