BDI Partners Announces the Acquisition of FMI Investment Partners

BD Investment Partners, LLC (BDI Partners), a lower-middle market private investment firm focused on the Built Environment, is pleased to announce the successful acquisition of FMI Investment Partners (FMIIP) that occurred on September 30, 2023.  

RALEIGH, N.C., Oct. 23, 2023 /PRNewswire/ -- BD Investment Partners, LLC (BDI Partners), a lower-middle market private investment firm focused on the Built Environment, is pleased to announce the successful acquisition of FMI Investment Partners (FMIIP) that occurred on September 30, 2023. Chris Burnham and Adam Daigle, co-founders of FMIIP together with FMI Corporation, formed BDI Partners to acquire the full interest in FMIIP from its previous stakeholders. Going forward the firm will operate as BDI Partners.

"The strategy of partnering with high-quality, lower-middle market entrepreneur and family-owned private companies at FMI Investment Partners remains the core strategy of BDI Partners," notes Burnham. Added Daigle, "we are excited to continue building on our success with our partner companies thus far while finding and partnering with new opportunities across the Built Environment as BDI Partners."

Since 2020, the team has made 18 investments across five platform companies spanning the Built Environment. The first investment, Green Group Holdings, a residential lawn, tree, and shrub care services provider, was successfully recapitalized in July 2022 and is now part of Turf Masters Brands (funds managed by BDI Partners remain a large minority owner in the company). Other partnerships in the portfolio include: ARRO Consulting, a civil engineering and environmental consulting firm focused on the water and wastewater market; LoJac, a provider of non-destructive hydro-excavation, CCTV pipe inspection, and hydro-jetting and pipe flushing services across the Southern U.S.; Energy Task Force and Tricon Piping Systems, manufacturers and value-added distributors of prefabricated, pre-insulated, secondary containment, and conduit piping systems across the U.S.; and Ira Walden & Sons, a full-service provider of residential interior and exterior painting, finishing, and refinishing services to the ultra-high-end luxury market.
Investors in the funds managed by FMIIP can expect a seamless transition as all investment team members at FMIIP, including Burnham and Daigle, remain part of BDI Partners and will continue to manage those funds.

About BDI Partners
BDI Partners (formerly FMI Investment Partners), headquartered in Raleigh, NC, is a lower-middle market investment firm that partners with private companies providing services, products, and technologies that support the Built Environment in the United States and Canada. We partner with high-quality, entrepreneur, and family-owned companies who share our desire to build great enterprises that make a positive impact on their employees, customers, communities, and the Built Environment.

By focusing exclusively on one industry, the Built Environment, we deliver a specialized approach to each investment, providing our partner companies expertise in strategy, operations, human capital, and financing to help them navigate change, build their infrastructure, and grow both organically and through acquisitions. Target investments include control positions in entrepreneur and family-owned businesses with revenue between $5 million and $60 million and EBITDA between $1 million and $7 million. We will review additional opportunities, selectively. For additional information, please visit www.bdipartners.com

About Turf Masters Brands
Turf Masters Brands, headquartered in Atlanta, GA, is a leading provider of recurring residential lawn, tree, and shrub care services.  The Company serves nearly 200,000 customers annually, helping homeowners maximize turf and soil health through fertilization, seeding, aeration and weed and exterior insect control programs.  Turf Masters Brands differentiates itself through a passion for quality lawn care work and through high levels of customer service, meaningful investment in application equipment, and fostering a culture that provides significant benefits, skill development, and opportunities for employees. The Company currently operates over 20 branches across 11 states. For additional information, please visit www.turfmastersbrands.com

About ARRO Consulting
ARRO Consulting, headquartered in Lititz, PA, is a dynamic and innovative engineering and environmental consulting firm. With a focus on excellence, sustainability, and client satisfaction, the Company provides tailored solutions for infrastructure, environmental, and development challenges. ARRO's multidisciplinary team combines expertise in civil engineering, environmental consulting, land development, water resources, and transportation planning to deliver holistic and forward-thinking solutions. The Company works closely with clients to understand their unique needs and vision, ensuring that services and projects not only meet but exceed expectations. ARRO's commitment to innovation and sustainability drives the Company to adopt cutting-edge technologies and practices, making ARRO a trusted partner for projects that make a positive impact on communities and the environment. Choose ARRO Consulting for results-driven solutions that transform ideas into reality. You Live Our Work. For additional information, please visit www.arroconsulting.com

About LoJac
LoJac, headquartered in Lebanon, TN, is a leading provider of non-destructive hydro-excavation, CCTV pipe inspection, and hydro-jetting and pipe flushing services. The Company serves a diverse group of utility, municipal, and infrastructure customers across the Southern U.S. LoJac's work is dedicated to improving the safety, sustainability, and reliability of the nation's infrastructure and natural resources using modern technology and equipment. LoJac's employees' commitment to this work is demonstrated through excellent customer service, hard work, and innovation as LoJac continues to contribute to the growth and improvement of our nation's infrastructure. For additional information, please visit www.lojac.com

About Energy Task Force and Tricon Piping Systems
Energy Task Force, headquartered in Apopka, FL, and Tricon Piping Systems, headquartered in Canastota, NY, are leading manufacturers and value-added distributors of prefabricated, pre-insulated, secondary containment, and conduit piping systems. The combined company serves a variety of industrial and commercial clients across the U.S. Additionally, the Company offers thermal efficiency, heat trace, leak detection, cathodic protection, and corrosion coatings using the latest technology to produce and distribute its range of solutions. The Company's focus and reliability ensures customer satisfaction through solutions that work. For additional information, please visit, www.triconpiping.com

About Ira Walden & Sons
Ira Walden & Sons, headquartered in West Palm Beach, FL, is a full-service provider of residential interior and exterior painting, finishing, and refinishing services. The Company focuses on the ultra-high-end luxury market across Palm Beach and various Southern FL locations. Ira Walden has a rich history dating back nearly 90 years as the provider of choice for its customer's maintenance, restoration, remodeling, and new construction needs. The Company's commitment to quality is unmatched, taking special care in enhancing the beauty of all luxury residences and architectural landmarks across its footprint. For additional information, please visit, www.irawalden.com

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SOURCE BD Investment Partners, LLC (BDI Partners)