Kinderhook Partners with Management to Recapitalize JDC, a Nationwide Leader in Specialty Equipment Solutions

NEW YORK, Jan. 6, 2025 /PRNewswire/ -- Kinderhook Industries, LLC ("Kinderhook") announced today the acquisition of Jack Doheny Companies, Inc. ("JDC" or the "Company"), a Northville, MI-based lessor and distributor of specialized equipment for use in the environmental, industrial, and utility sectors. Financial terms of the transaction were not disclosed. JDC represents Kinderhook's 143^rd Environmental / Industrial Services acquisition since inception, and its seventh platform investment within the specialty industrial rental vertical.

Founded in 1973 and headquartered in Northville, Michigan, JDC is a leading provider of specialty equipment rentals, sales, and service solutions for mission-critical applications within the electric transmission and distribution ("T&D"), sewer maintenance and inspection, and utility markets. The Company leases and sells a comprehensive suite of products including vacuum trucks, hydro-excavators, aerial boom trucks, sewer cleaning equipment, and other high-performance machinery to a diverse base of customers. The Company operates a network of 16 branch locations across the U.S. and Canada, utilizing its footprint to effectively provide ongoing support to its rental fleet of over 1,300 pieces of equipment.

"This partnership with Kinderhook represents an exciting opportunity to accelerate our growth and enhance our ability to deliver best-in-class equipment and service solutions to our customers," said Steve Shafer, CEO of JDC. "By partnering with Kinderhook, we are well-positioned to further invest in our fleet and expand our geographic reach across existing and new markets, enhance our service offerings, and execute on a robust pipeline of strategic growth initiatives. Our team is excited for this next phase of growth!"

"JDC exemplifies the type of business Kinderhook seeks to partner with — an industry leader with a proven track record of performance, a management team committed to operational excellence, and a clear path forward for growth." said Robert Michalik, Managing Director of Kinderhook. "In our experience as environmental and industrial services investors, we have observed the value provided by quality heavy equipment supported by reliable customer service. Our portfolio companies have previously been consumers of JDC's products and can validate the Company's reputation as a preferred provider in the market."

Kirkland & Ellis LLP served as legal counsel to Kinderhook. Financing for the transaction was provided by a syndicate led by Comerica Bank with participation from Truist Bank, Huntington Bank, KeyBank, Citizens Bank, Fifth Third Bank and First Merchants Bank.

Schwartz Advisors LLC served as financial advisor to JDC. Taft Stettinius & Hollister LLP served as legal counsel to JDC.

About Kinderhook Industries
Founded in 2003, Kinderhook Industries, LLC is a private investment firm that has raised $8.5 billion of committed capital. We have made in excess of 450 investments and follow-on acquisitions since inception. Kinderhook's investment philosophy is predicated on matching differentiated, growth-oriented investment opportunities with financial expertise and our proprietary network of operating partners. Our focus is on middle market businesses with defensible niche market positioning in the healthcare services, environmental & industrial services, and automotive & light manufacturing sectors.

For more information, please visit https://www.kinderhook.com

About JDC
Founded in 1973 and headquartered in Northville, Michigan, JDC is a leading provider of specialty equipment rentals, sales, and service solutions for mission-critical applications within the electric transmission and distribution ("T&D"), sewer maintenance and inspection, and utility markets. The Company leases and sells a comprehensive suite of products including vacuum trucks, hydro-excavators, aerial boom trucks, sewer cleaning equipment, and other high-performance machinery to a diverse base of customers. The Company operates a network of 16 branch locations across the U.S. and Canada, utilizing its footprint to effectively provide ongoing support to its rental fleet of over 1,300 pieces of equipment.

For more information, please visit https://teamjdc.com/

SOURCE Kinderhook Industries