JDC Reaches New Heights with Kinderhook's Strategic Acquisition
Deal News | Jan 06, 2025 | Kinderhook Industries
Kinderhook Industries, a well-established private investment firm, has acquired Jack Doheny Companies (JDC), a Northville, Michigan-based provider of specialty equipment rentals, sales, and solutions. This strategic acquisition, which financial terms were not disclosed, marks Kinderhook's 143rd environmental/industrial services acquisition and its seventh platform investment in the specialty industrial rental vertical. Founded in 1973, JDC operates across the U.S. and Canada, offering a variety of equipment crucial to the electric transmission, sewer maintenance, and utility sectors. The acquisition aims to accelerate JDC's growth, enabling geographic and service expansion. Robert Michalik, Managing Director at Kinderhook, emphasizes JDC's proven track record and operational excellence, aligning with Kinderhook's investment philosophy. Legal and financial advisory roles were filled by leading firms to facilitate the transaction.
Sectors
- Private Equity
- Specialty Equipment Solutions
- Environmental & Industrial Services
Geography
- United States – Both Kinderhook Industries and Jack Doheny Companies are based in the U.S., with JDC operating a vast network across the country.
- Canada – JDC has branch locations in Canada, indicating its operational reach in North America.
Industry
- Private Equity – The article involves a significant acquisition orchestrated by Kinderhook Industries, a private equity firm.
- Specialty Equipment Solutions – Jack Doheny Companies (JDC) operates within this industry, providing specialized equipment rentals, sales, and services for sectors like utilities and sewer maintenance.
- Environmental & Industrial Services – The acquisition of JDC, an environmental and industrial services company, aligns with Kinderhook's focus area.
Financials
- Not disclosed – The financial terms of the acquisition of Jack Doheny Companies by Kinderhook Industries.
- $8.5 billion – The amount of committed capital raised by Kinderhook Industries since inception.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Kinderhook Industries, LLC | Acquiring Company | Company | A private investment firm specializing in middle market businesses with niche market positioning. |
| Jack Doheny Companies, Inc. | Target Company | Company | A Michigan-based provider of specialty equipment solutions serving the environmental, industrial, and utility sectors. |
| Steve Shafer | CEO of JDC | Person | Chief Executive Officer at Jack Doheny Companies. |
| Robert Michalik | Managing Director at Kinderhook | Person | Responsible for commenting on the strategic fit of the acquisition within Kinderhook's portfolio. |
| Kirkland & Ellis LLP | Legal Advisor to Kinderhook | Company | Provided legal counsel for the acquisition transaction. |
| Schwartz Advisors LLC | Financial Advisor to JDC | Company | Acted as financial advisor for JDC in the transaction. |
| Taft Stettinius & Hollister LLP | Legal Advisor to JDC | Company | Provided legal counsel to JDC for the transaction. |
| Comerica Bank | Lead Financing Bank | Company | Led the syndicate providing financing for the transaction. |