F.N.B. Capital Partners, L.P. (“FNBCP”) has partnered with Management and Dubin Clark & Company, Inc. (“Dubin Clark”) to recapitalize Powerhouse Maintenance (“Powerhouse” or the “Company”). The Company’s former owners will remain active – Ken Roy will stay on as President, and Todd and James Roy will serve as Vice Presidents. Dubin Clark led the transaction while FNBCP and Resolute Capital Partners provided the debt financing and an equity co-investment.
“We are very excited to partner with the Roy family, Dubin Clark, and Resolute Capital Partners,” noted Stephen Gurgovits, Jr., Managing Partner of FNBCP. “Over the past 50 years, the Roy family has grown Powerhouse Maintenance into a market leader in the NY metro area. We are confident that Dubin Clark’s expertise in the service industry space will complement the Roy family and lead the Company into its next phase of growth. The team’s focus going forward will be on expanding the geographic footprint, adding ancillary services, and hiring additional employees.”
Powerhouse Maintenance, LLC, founded in 1963 and headquartered in Islip, New York, is comprised of three businesses: Powerhouse Paving, PAM Sweeping, and Orange Sewer & Drain. The Company specializes in the maintenance and repair of commercial parking lots primarily for commercial and industrial facilities, apartment complexes, strip malls and retail shopping centers. Services include asphalt paving, sealcoating, drain installation and repair, concrete installation and repair, sweeping and debris removal, power washing, and liquid waste management.