maintenance services

Sterling Partners Acquires DBi Services

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Sterling Partners has acquired DBi Services, a provider of outsourced maintenance services to government agencies, railways, utilities and private companies.

Company provided 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, among others. The company has approximately 1,500 employees. DBi was founded in 1978 by Neal and Paul DeAngelo and is headquartered northeast of Philadelphia in Hazleton, PA (www.dbiservices.com).

“The success of an industrial services business is driven by its ability to provide customers with the highest levels of safety, quality and service. DBi has been delivering on that demand for nearly four decades,” said Matt Hankins, Principal at Sterling Partners. “The foundation and platform that Paul and Neal have built is strong, and we’re committed to working with the management team and employees to catalyze DBI’s growth.”

Sterling Partners focuses on investing growth capital in small and mid-market companies in industries with positive, long-term trends, including education, healthcare, and business services. Sterling manages over $5 billion in institutional capital. The firm was founded in 1983 and has offices in Chicago, Baltimore, and Miami (www.sterlingpartners.com).

“This is an exciting new chapter for our company and all our stakeholders. Today, I have the same passion and excitement about DBi’s future as I did 38 years ago. We’ve found a great cultural fit and a committed financial partner whose long-standing history of working with founders to accelerate growth tightly aligns with our family-oriented culture and mission,” said Paul DeAngelo, DBi’s Co-Founder and President.

Moelis & Company (www.moelis.com) was the financial advisor to DBi and Morgan, Lewis & Bockius (www.morganlewis.com) served as legal counsel. McGuireWoods (www.mcguirewoods.com) and Katten Muchin Rosenman (www.kattenlaw.com) served as legal advisors to Sterling.

© 2016 Private Equity Professional • 8-10-16

Resilience Acquires Phoenix Installation Services

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Aero Communications, a portfolio company of Resilience Capital Partners, has acquired Phoenix Installation Services, a provider of construction and maintenance services to the wireless industry, through a newly-formed company, Phoenix Communications.  Phoenix Communications is Resilience Capital Partners’ third add-on acquisition by its Aero Communications investment platform, which it acquired in October 2012.

Phoenix specializes in providing underground and aerial construction, fiber splicing and related engineering and construction services to telecommunications companies operating throughout the Southwestern United States.  Phoenix employs over 80 engineers, construction professionals, project managers and related support personnel.  The company is headquartered east of Dallas in Forney, TX (www.phoenixinstall.com).

“As leading wireless and communication companies continue to invest and deploy new technologies to satisfy customer demands, leading outsourced engineering and infrastructure services providers such as Aero will consistently demonstrate a willingness to do the same,” said Steven Rosen, Co-CEO of Resilience Capital Partners.

Aero Communications provides system design and engineering, construction, wiring, installation, maintenance and repair services to broadband and wireless providers, businesses, public venues, government facilities and residential subscribers. The company employs approximately 1,600 technicians, engineers, customer service and related support personnel.  Aero Communications was founded in 1983 and is headquartered in Canton, MI (www.aerocommunications.com).

“The Phoenix investment is a continuation of Aero’s growth strategy of purchasing businesses with experienced in-house wireless and construction professionals who serve an increasingly diverse customer base in new geographies across the US,” said Michael Cavanaugh, a Partner at Resilience Capital Partners

Resilience Capital Partners specializes in investing in middle market companies with $25 million to $250 million in revenues across a range of industries. The firm’s investment strategy is to acquire companies in a variety of special situations including underperformers, corporate divestitures, turnarounds, and orphan public companies. Since its inception in 2001, Resilience has acquired 38 companies under 22 platforms with over $2 billion in revenues. The firm is based in Cleveland (www.resiliencecapital.com).

2014 PEPD • Private Equity’s Leading News Magazine • 7-9-14