Tecum Capital Management has acquired J&D Home Improvement (DBA The Basement Doctor). Co-investing in this transaction alongside Tecum were Centerfield Capital Partners, BPEA, and Crane Group.
Basement Doctor is a provider of residential and commercial water displacement management services, including basement and crawlspace waterproofing, foundation repair, and mold remediation, to customers in Ohio, Indiana, and West Virginia. The company was founded in 1987 by Ron Greenbaum and is headquartered in Columbus, Ohio.
The buy of Basement Doctor is Tecum’s first platform investment for its recently relaunched control equity strategy, known as Tecum Equity Alpha Management (TEAM). Tecum is currently funding its TEAM investments on a deal-by-deal basis from multiple family offices and other institutional investors but raising a dedicated TEAM fund is a possible future option.
Tecum’s Basement Doctor transaction team was led by Partner Matt Harnett, Director Dave Bonvenuto, Vice President Sean Edmonson, and Senior Associate Ian Frazier.
“It all starts with the people,” said Mr. Bonvenuto. “Ron and his team have a centralized focus around the company’s culture and investing in its talent. In this industry, our people are critical to the growth of the platform, and we plan to leverage this differentiated approach as we grow the business in partnership with the team.”
Tecum invests both junior capital and equity of $5 million to $20 million in companies that have EBITDA from $3 million to $10 million and are active in the high-value manufacturing, value-added distribution, and business service sectors. The firm is headquartered near Pittsburgh in Wexford, Pennsylvania.
“We could not be more excited to work with The Basement Doctor team and welcome them to the Tecum family. We have aggressive goals of expanding the platform through both organic and inorganic initiatives while continuing to professionalize the industry and the broader home services environment,” said Mr. Edmonson.
Columbus-headquartered Footprint Capital was the financial advisor to The Basement Doctor.
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