DBi Services, a portfolio company of Sterling Partners, has acquired HDR|ICA, a subsidiary of HDR.
HDR, an engineering, architecture, environmental and consulting firm, acquired Infrastructure Corporation of America (ICA) in 2015 and formed HDR|ICA. HDR is headquartered in Omaha (www.hdrinc.com).
ICA provides highway asset maintenance and management services to government agencies and local market contractors. The company’s services include bridge inspection and repair; roadside maintenance & traffic services; rest area & welcome center maintenance; tollway and tollway facility maintenance; drainage repair; pavement maintenance; vegetation and aesthetics; guardrail repair; and litter and graffiti removal. ICA manages over 20 long-term asset maintenance management contracts in Florida, Virginia, Texas, South Carolina, Arizona, and Missouri. These projects include 3,650 structures, 190 facilities, and 4,700 lane-miles of roadway. ICA was founded in 1998 and is headquartered in Nashville (www.ica-onramp.com).
“As we got to know the team at DBi, it became clear to us that their client-focused approach, innovative solutions and commitment to employees were an excellent fit with our vision for our team, our customers, and the industry overall,” said Butch Eley, President of ICA.
DBi Services, a portfolio company of Sterling Partners since August 2016, is a provider of outsourced maintenance services to government agencies, railways, utilities and private companies. Company services include lake and pond management, vegetation management, grounds maintenance and landscaping, traffic sign management, roadway maintenance, sign installation and maintenance, pressure washing, and graffiti removal. The company has approximately 2,500 employees in over 90 locations. DBi was founded in 1978 and is headquartered northeast of Philadelphia in Hazleton, PA (www.dbiservices.com).
“We are thrilled to welcome ICA to our growing team,” said Mark Robinson, DBi’s President and COO. “This investment is part of our long-time commitment to providing innovative solutions to current and future asset maintenance challenges. ICA’s people, knowledge, capabilities and current infrastructure projects complement and enhance the service we provide to our customers.”
With the closing of the transaction, DBi will immediately begin to operate ICA under the name DBi Services.
Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including healthcare and business services. The firm was founded in 1983 and has offices in Chicago and Baltimore (www.sterlingpartners.com).
© 2018 Private Equity Professional | February 2, 2018
