DENTCO Acquired by Powerhouse

GRAND RAPIDS, Mich., April 27, 2021 /PRNewswire/ -- Charter Capital Partners, a Grand Rapids, Michigan-based investment bank, today announced that its client, DENTCO, a leading provider of outsourced exterior services management, has been acquired by Powerhouse, a provider of national construction services, facility maintenance, and rollouts. Powerhouse is owned by Lincolnshire Management, a middle-market focused North American private equity firm. Charter Capital Partners principals served as exclusive M&A advisor to DENTCO.

Founded in 1977, DENTCO's services include landscape management, snow and ice removal, parking lot maintenance, power sweeping, and dark store maintenance. The company utilizes a network of contractor partners across all 50 states and services over 8,000 active sites.

"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."

"Charter was instrumental in reaching this successful outcome. Their high-touch approach and guidance throughout the process proved integral in ensuring that we achieved our goals," added Greg Dent, DENTCO's Chairman of the Board.

The transaction was executed by Charter Capital Partners team members Mark Streekstra, Director; Zach Wiersma, Vice President; and Mike Welch, Associate.

Foster Swift served as the deal counsel to DENTCO, and Finn Dixon served as the deal counsel to Powerhouse.

About Charter Capital Partners
In operation since 1989, Charter Capital Partners is a premier investment banking firm headquartered in Grand Rapids, Michigan. Charter offers a comprehensive range of investment banking and private capital investing advisory services, including buy-side and sell-side M&A, succession planning, business valuation and capital raise. Charter Private Capital Management is a Registered Investment Adviser (RIA), professionally managing numerous private capital funds, including Charter Growth Capital Fund, Michigan Accelerator Fund I, MAF Opportunity Fund, and multiple Special Purpose Entities. Broker-dealer services conducted through Principals of Charter acted in their capacity as licensed investment banking agents of M&A Securities Group, Inc., member FINRA/SiPC, a separate entity from Charter Capital Partners. To learn more, visit chartercapitalpartners.com.

About DENTCO
Headquartered in Dewitt, Michigan, DENTCO is a leading provider of outsourced exterior services management by utilizing a proprietary software suite. The Company provides landscape management, snow and ice removal, parking lot maintenance, power sweeping, and dark store maintenance. The Company's utilizes a network of contractor partners across all 50 states and services over 8,000 active sites. For more information, visit dentco.com.

About Powerhouse
Powerhouse is a leading, nationwide provider of high-volume, multi-site rollouts and refreshes, as well as recurrent facilities maintenance services. The majority of Powerhouse's work is outsourced to a network of over 10,000 independent subcontractors, and delivered through a tech-enabled, asset-light platform. Powerhouse has primarily served customers in the food service, retail, and hospitality segments and is expanding in the financial and healthcare sector. For more information, visit powerhousenow.com.

For more information, please contact:
Tyler Deur
Lambert & Co.
(616) 233-0500
[email protected]

SOURCE DENTCO