Johnny on the Spot, a portfolio company of Balance Point Capital Partners and Dubin Clark, has completed its second add-on acquisition with the buy of D. Lovenberg’s Portable Toilet Rentals. Balance Point and Dubin Clark acquired Johnny on the Spot in April 2014.
Lovenberg’s Portable Toilet Rentals is a provider of portable restrooms, roll-off dumpsters, and related products to the construction and special events industries. The company was founded in 1998 and is headquartered in Andover, NJ (www.dlovenberg.com).
“D.Lovenberg fits well within our strategy of providing high-quality products and services in the portable sanitation industry,” said Jess Thompson, CEO of Johnny on the Spot. “The company has grown steadily over the last several years and extends the geographic reach of our business. We look forward to continuing to build one of the preeminent portable sanitation companies in the country.”
Johnny on the Spot (JOTS) is a provider of portable toilets and related products to the special event and construction industries, as well as residential and commercial septic system maintenance, inspections, repairs and installations in New Jersey, New York and Pennsylvania. The company was founded in 1969 and is headquartered in Old Bridge, NJ (www.johnnyonthespot.com).
“D. Lovenberg is a great company with a reputation for excellence, and bringing it under the JOTS umbrella will help us further accelerate growth,” said Mike Hompesch, Partner of Dubin Clark. “In addition, we are excited to have Dustin Lovenberg join the JOTS team, given his wealth of industry knowledge and customer relationships.”
Balance Point Capital Partners invests from $5 million to $20 million of mezzanine and equity in lower middle market companies that have revenues of $10 million to $150 million and EBITDAs between $2 million and $25 million. Sectors of interest include business services, niche manufacturing, consumer & industrial, branded products, aerospace & defense, healthcare, and technology. Balance Point was founded in 1988 and is based in Westport, CT (www.balancepointcapital.com).
Dubin Clark seeks to acquire manufacturing, value-added distribution, and service companies with $10 million to $100 million in revenues and at least $2 million of EBITDA. The firm was founded in 1984 and is based in Greenwich, CT (www.dubinclark.com).
Balance Point and Dubin Clark are actively seeking additional add-on opportunities for JOTS.
2014 PEPD • Private Equity’s Leading News Magazine • 10-3-14
