Powerhouse, a provider of national construction services, facility maintenance, and rollouts, has acquired Dentco, a provider of outsourced exterior services management and client of Charter Capital Partners, a Grand Rapids, Michigan-based investment bank. Powerhouse is owned by Lincolnshire Management, a middle-market focused North American private equity firm. Dentco’s services include landscape management, snow and ice removal, parking lot maintenance, power sweeping, and dark store maintenance.
“I’m excited to begin this partnership with Powerhouse as it will build upon our strong position in the exterior services industry,” stated Scott Milnes, President of Dentco. “The significant customer overlap between our organizations creates opportunities for DENTCO and Powerhouse to expand the breadth of services we provide to our valued customers.”
“Dentco and Powerhouse are highly complementary, and we will continue to look for new opportunities and additional services to add to this exciting, combined platform,” added Pieter Kodde, a managing director at Lincolnshire Management. “Dentco’s unrivaled strength in exterior services, together with Powerhouse’s large national customer base results in a very powerful combination that we are confident will increase the combined company’s exterior service capabilities.”
“We are delighted to have advised Dentco on this transaction in the facility management space, and we are excited to see the growth from the combination of Dentco and Powerhouse,” said Mark Streekstra, director, Charter Capital Partners. “This is the culmination of over 40 years of effort from the Dentco team, and we at Charter are thankful they trusted us to help them through this process.”
Foster Swift served as the deal counsel to Dentco, and Finn Dixon served as the deal counsel to Powerhouse. Charter Capital Partners principals served as exclusive M&A advisor to Dentco.