Gauge Capital has recapitalized Oklahoma City-based TVC Enterprises, a provider of legal services to commercial truck drivers. No financial terms were disclosed for the transaction that was done in partnership with TVC’s owners and management team. In conjunction with the transaction, As part of the investment, Tom McKelvey, James Jackson and Reid Barnett from Gauge Capital have joined the board of directors.
Southlake, TX – Gauge Capital announced that it has partnered with the owners and management team of TVC Enterprises (“TVC” or the “Company”) to recapitalize the Company. Founded in 1988 and headquartered in Oklahoma City, TVC is a leading provider of value-added services to commercial truck drivers across the United States. The Company pioneered the concept of providing turn-key legal services to commercial drivers and remains at the forefront of the industry today. TVC delivers its services through a network of over 7,000 attorneys that covers virtually every jurisdiction in the US. Through this network, TVC assists over 50,000 commercial drivers with both moving and non-moving violations, helping them to stay on the road and saving them both the time and expense that would come from securing legal representation on their own. TVC also offers its drivers a leading fuel discount program, roadside assistance and insurance products. Through a separate division, TVC also offers nationwide licensing and outsourced services to several third-party motor club programs throughout the US.
“Our recent partnership with Gauge Capital marks the beginning of a new, exciting chapter for our company. There is a large unaddressed segment of commercial drivers that can benefit from our services, and with the recent investment from Gauge we plan to accelerate our market penetration and continue to increase the additional services our program provides to commercial drivers” said Steve Hanebaum, CEO of TVC.
Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital said, “We are excited to partner with a business as well positioned as TVC and to support Steve and the rest of the management team in their vision for the Company. They have been at the forefront of identifying and providing value-added services to commercial drivers and there is still substantial room for growth.”
As part of the investment, Tom McKelvey, James Jackson and Reid Barnett from Gauge Capital have joined the Company’s Board of Directors.
About TVC Enterprises (www.prodriver.com)
Founded in 1988, TVC Enterprises is a market-leading provider of legal services to commercial drivers, with a strong focus on independent drivers and small fleets. The Company, through a network of over 7,000 attorneys, seeks to achieve favorable case outcomes for its drivers, which allows participating drivers to secure employment and stay on the road. In addition to its legal services, TVC also offers a market-leading fuel discount program, roadside assistance, and insurance products to its drivers and their families. TVC also offers administrative services to third-party motor clubs throughout the US.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a private equity firm that partners with owners, managers and equity stakeholders of successful middle market companies to maximize their potential. Gauge Capital focuses on investing in growing services and technology-enabled companies in the business and consumer, healthcare, industrial and food sectors. For more information, please contact Andrew Peix, Principal and Director of Business Development at firstname.lastname@example.org.