Gauge Capital has acquired TVC Enterprises in partnership with the owners and management team of the company.
TVC Enterprises is a provider of legal services to commercial truck drivers, with a strong focus on independent drivers and small fleets. The company maintains a network of over 7,000 attorneys that covers virtually every jurisdiction in the US. Through this network, TVC assists over 50,000 commercial drivers with both moving and non-moving violations.
TVC’s services allow drivers to stay on the road and saves them both the time and expense that would come from securing legal representation on their own. TVC also offers a fuel discount program, roadside assistance, and insurance products to its drivers and their families. Through a separate division, TVC offers nationwide licensing and outsourced services to several third-party motor club programs throughout the US. TVC, led by CEO Steve Hanebaum, was founded in 1988 and is headquartered in Oklahoma City, OK (www.prodriver.com).
“Our recent partnership with Gauge Capital marks the beginning of a new, exciting chapter for our company,” said Mr. Hanebaum. “There is a large unaddressed segment of commercial drivers that can benefit from our services, and with the recent investment from Gauge we plan to accelerate our market penetration and continue to increase the additional services our program provides to commercial drivers.”
“We are excited to partner with a business as well positioned as TVC and to support Steve and the rest of the management team in their vision for the company,” said Tom McKelvey, co-founder and managing partner at Gauge Capital. “They have been at the forefront of identifying and providing value-added services to commercial drivers and there is still substantial room for growth.”
Gauge Capital invests from $10 million to $40 million in North American-based companies that have $5 million to $30 million of EBITDA. Typical transaction types include buy-outs, recapitalizations, divestitures, privatizations, consolidations, and growth capital investments. Sectors of interest include healthcare services, business services, consumer and food. The firm will consider both majority and minority investments. Gauge Capital is based near Dallas in Southlake, TX (www.gaugecapital.com).
© 2019 Private Equity Professional | January 23, 2019