Pittsburgh, Pennsylvania – Tecum Capital Management, Inc. (“Tecum” or “Tecum Capital”), a middle-market private equity firm, is proud to announce its partnership with J&D Home Improvement, Inc. d/b/a The Basement Doctor and its related entities (“Basement Doctor” or the “Company”). The investment represents Tecum Capital’s first platform investment out of its recently relaunched control equity strategy, Team Equity Alpha Management (“TEAM” or “Tecum Equity”). Tecum Equity received strategic investment to support its acquisition through partnerships with Centerfield Capital Partners, BPEA, and Crane Group (collectively, the “Investor Group”).
Founded in 1987, Basement Doctor is a vertically integrated provider of residential water displacement management services, including basement and crawlspace waterproofing, foundation repair, and mold remediation focused on preserving home value, safety, and structural integrity. In recent years, the Company’s experienced management team has been focused on growing its service footprint in the region, while also focusing on growing out its national distribution capabilities of best-in-class products to better serve the independent installers throughout the country.
“I am very proud of what we have built here at the Basement Doctor over the last 35 years, and we are excited to build upon this foundation to grow the platform into a national player,” said the Company’s founder, Ron Greenbaum. “Tecum made it a priority to listen and understand my family’s goals and had an aligned vision, centralized around the capabilities of my people and the platform we had built since 1987, which made them the partner of choice for me and my team.”
“We could not be more excited to work with The Basement Doctor team and welcome them to the Tecum family. We have aggressive goals of expanding the platform through both organic and inorganic initiatives, while continuing to professionalize the industry and the broader home services environment,” said Tecum Vice President, Sean Edmonson.
“It all starts with the people,” said Director, Dave Bonvenuto. “Ron and his team have a centralized focus around the Company’s culture and investing in its talent. In this industry, our people are critical to the growth of the platform, and we plan to leverage this differentiated approach as we grow the business in partnership with the team.”
Footprint Capital acted as financial advisor to The Basement Doctor. Tecum Equity was advised by Clark Hill in completing the transaction. First Commonwealth Bank provided the senior debt financing.
The Deal Team from Tecum Equity consisted of Matt Harnett, Dave Bonvenuto, Sean Edmonson, and Ian Frazier.
About Tecum Capital Management, Inc.
Tecum Capital Management, Inc. (“Tecum”) is a Pittsburgh, Pennsylvania based private investment firm with a multi-strategy approach to deploying capital in lower middle market companies. Tecum focuses on businesses with EBITDA between $3 to $10 million. Tecum manages a licensed Small Business Investment Company (“SBIC”) and is currently investing out of Tecum Capital Partners III, L.P, a $305 million fund launched in August 2021. Tecum Equity is a separate control equity strategy specializing in partnering with family- and founder-owned business. Since 2006, the team has collectively invested over $1.0 billion in over 135 platform and add-on acquisitions on behalf of institutional investors. For more information, please visit www.tecum.com.
About Centerfield Capital Partners
Founded in 1998 and located in Indianapolis, Centerfield Capital Partners is a national provider of junior capital to lower middle market companies. Centerfield invests alongside equity sponsors, independent sponsors, business owners, and management teams who seek subordinated debt and equity financing to transform businesses and create value. The firm provides tailored financing solutions to effect leveraged buyouts, recapitalizations, acquisitions, and growth. Centerfield has invested in 100+ companies across a variety of industry sectors and is currently investing its fifth fund with commitments of $400 million. For more information, please visit www.centerfieldcapital.com.
About BPEA
Established in 2002, BPEA is a Boston-based private equity firm focused on small and lower middle market buyout and growth investing, and customized investment solutions to meet investors’ private equity goals. BPEA offers dedicated small market buyout and growth investment programs as well as focused healthcare-only programs. BPEA builds diversified and balanced private equity programs that invest in buyout and growth equity funds and directly in companies. Since inception, BPEA has made buyout and growth investments in 110 funds and 170 companies. For more information, please visit www.bpea-pe.com.
Crane Group
Crane GroupCo. (“Crane Group”) is a private, family-owned holding and management company based in Columbus, Ohio that passionately invests in businesses, people, and good. Crane Group is backed by 75 years of proven success in a diverse array of industries and investment structures. Crane Group provides equity capital to best-in-class family and founder owned companies, and market leading institutional funds across all asset classes. Crane Group has expertise and holdings in private equity, real estate, venture capital, marketable securities, and social impact investments. For more, visit www.cranegroup.com.
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