Chicago, Ill., September 22, 2022 – Wind Point Partners (“Wind Point”), a Chicago-based private equity firm, is pleased to announce that it has partnered with D&H United (“D&H” or the “Company”), a leading provider of testing, inspection, repair and installation services for fueling stations and electric vehicle (“EV”) charging infrastructure across the United States. D&H provides mission-critical services to the industry’s leading fueling and EV station operators through a network of 16 branch locations and a team of more than 570 highly skilled, customer-focused employees.
Headquartered in Houston, D&H was formed in 2015 by long-time industry executive and current D&H CEO Bo Sasnett, who initiated the merger of two predecessor companies. Under Bo’s leadership, D&H evolved into one of the nation’s leading fuel and EV infrastructure solutions providers, servicing thousands of fueling and charging locations across the Southern and Mountain regions. D&H is built on a people-centric and customer-focused foundation, and the Company’s skilled field technician base is highly regarded for its wide breadth of capabilities, fast response times and leading first-time fix rates. Wind Point is partnering with Bo and D&H management, all of whom will maintain ownership in the business. Additionally, Wind Point and D&H will introduce a company-wide incentive program to recognize D&H’s critical contributors, including its technicians and support staff.
“This exciting new partnership with Wind Point offers D&H access to an extensive executive network, additional financial resources and their expertise in helping companies accelerate growth and achieve new levels of scale,” said Bo Sasnett. “Simultaneously, we are highly aligned around ensuring that D&H continues to maintain the customer-driven, people-oriented culture that has been, and always will be, the core focus of D&H. As we look into the future, we continue to see a great growth path for our company and the team.”
Since forming D&H in 2015, Bo and management have more than quadrupled the size of the Company. Wind Point and D&H intend to expand on this track record with an organic and M&A-driven growth strategy oriented around aggressively growing D&H’s technician base, adding density in existing as well as new service regions, and enhancing the Company’s scope of services. Importantly, D&H will continue to support its customers in the buildout and maintenance of the nation’s EV infrastructure, which remains a strong tailwind for the Company.
Konrad Salaber, Managing Director at Wind Point, noted, “Bo and the D&H team have built a tremendous franchise that is known for its service-first orientation among the industry’s leading fueling and EV station operators. D&H and Wind Point have developed a robust growth plan focused on rapidly expanding the Company’s team of technicians and pursuing strategic M&A in a highly fragmented market. We believe this joint vision will further solidify D&H as the industry’s service partner of choice with the nation’s leading fueling and EV station operators.”
In line with the firm’s executive-oriented partnership model, Wind Point evaluated its investment in D&H with a team of executives who have deep experience across route-based services, maintenance services and fueling and electric vehicle charging. Steve Hochhauser, a Wind Point Executive Advisor Partner (“EAP”), will serve as Board Chair. Steve is the former CEO of Johns Manville, Board Chair at Smart Care and a director at Terminix. Also joining the Board are Wind Point EAP’s Mark Holden and Victor Swint, who have extensive experience in the chemical, petroleum and fueling industries. In addition, Henry Lees-Buckley, CEO of Smart Care, and Phil Emma, former COO of CSC ServiceWorks, will join the board with a wealth of operating experience in route-based, technician-focused services.
Wind Point is a longtime investor in route-based services and logistics businesses, with select current and prior investments including Smart Care, Valicor, AIR-serv, CTSI, STG Logistics and Dicom.
Financing for the transaction was provided by Churchill Asset Management, BMO and Yukon Partners. Kirkland & Ellis and Reed Smith served as legal counsel to Wind Point and KPMG provided transaction advisory services. Harris Williams advised D&H in connection with the transaction.