Roark Capital has made an investment in Divisions Maintenance Group, a technology and data-based provider of facilities maintenance services.
Divisions Maintenance Group (DMG) services retail chains, pharmacies, grocery stores, warehouses, distribution centers, and REITs across more than 46,000 locations in all 50 states. DMG’s network of independent service providers – totaling more than 5,700 – provide hundreds of services including building painting and repair, equipment assembly, electrical maintenance and repair, floor care, glass cleaning and repair, janitorial and sanitization, landscaping, elevator repair, security, and snow removal.
DMG, led by CEO Gary Mitchell and CSO Kyle Murray, was founded in 1999 and is headquartered near Cincinnati in Newport, Kentucky.
“We are delighted to partner with Roark,” said Mr. Mitchell. “The transaction process was seamless; the Roark team did exactly what they said they would do every step of the way, and their operational expertise, great culture, and deep need-based multi-unit services experience will help us further accelerate our growth.”
“DMG’s customer-first focus, leading technology platform, and dedication to its core principles drives unmatched quality and service delivery. We are thrilled to partner with Gary and Kyle,” said Mike Thompson, a managing director at Roark.
Roark Capital Group invests in companies that have revenues from $20 million to $5 billion and EBITDA from $10 million to $500 million. Sectors of interest include franchised and multi-unit business models in the retail, restaurant, and service sectors; consumer products; consumer and business services; and environmental services. Roark is headquartered in Atlanta with an additional office in New York City.
In November 2018, Roark completed fundraising for its two newest funds, Roark Capital Partners V LP and Roark Capital Partners II Sidecar LP, with a total of $6.5 billion of capital commitments.
The buy of DMG is Roark’s 42nd platform investment and its 12th business services platform investment since its founding in 2001.
Private Equity Professional | August 20, 2020