F.N.B. Capital Partners has invested in DBi Services Inc., which provides transportation infrastructure services. F.N.B. supported a recapitalization of DBi along with BNY Mellon-Alcentra and KCAP Financial. M&T Bank was senior lender and Griffin Financial Group worked as financial advisor to DBi Services.
F.N.B. Capital Partners, L.P. (“FNBCP”) announces a new investment in DBi Services, Inc. DBi Services is a market leading provider of transportation infrastructure services. In conjunction with investment partners BNY Mellon-Alcentra and KCAP Financial, FNBCP supported the recapitalization of DBi Services to position the Company for continued growth. FNBCP is a $175 million fund, licensed as a Small Business Investment Company (SBIC) and managed by Tecum Capital Management, Inc.
“We are extremely excited to invest with this management team, who collectively are both leaders and innovators within their industry,” noted Stephen Gurgovits, Jr., Managing Partner for FNBCP. “We expect the company will continue to capitalize on the increasing trend of outsourcing highway and rail maintenance projects.” FNBCP partnered with Alcentra and KCAP to provide the junior debt and preferred securities in the recapitalization. “It was a pleasure working with our two financing partners, and we were fortunate to have such an opportunity”, noted Matthew Harnett, Partner for FNBCP.
Other parties involved in the transaction included M&T Bank as the senior lender and Griffin Financial Group, which served as the financial advisor to DBi Services.
DBi Services is headquartered in Hazleton, PA and was founded in 1978. The Company provides infrastructure maintenance, operations and management solutions primarily in North America for government agencies, utilities, private industries, railways, retailers and other infrastructure owners.
For more information on DBi, please visit www.dbiservices.com.
About F.N.B. Capital Partners, L.P.
F.N.B. Capital Partners, L.P. is a pooled fund of committed capital licensed by the Small Business Administration (“SBA”) as an SBIC. FNBCP, headquartered in Pittsburgh, Pennsylvania, invests $3 million to $10 million per transaction. FNBCP specializes in providing mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium size commercial enterprises for the purposes of recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital. For more information, please visit www.fnbcp.com or download our FNBCP Fact Sheet.
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. (“Tecum”) is a private investment firm and management company for F.N.B. Capital Partners, L.P. Tecum, based in Pittsburgh, Pennsylvania, oversees a pool of committed capital focused on mezzanine debt, subordinated notes, private equity and other types of financial capital to small and medium sized commercial enterprises. The company is focused on providing financing for recapitalizations, buyouts, generational transitions, mergers and acquisitions and other growth capital needs.