ACON Investments Exits Kept Companies to DFW Capital Partners
Washington, D.C. – ACON Investments (“ACON”), today announced the sale of its equity interests in Kept Companies, Inc. (“Kept” or the “Company”) to affiliates of DFW Capital Partners (“DFW”). Terms of the transaction were not disclosed.
Headquartered in Fairfield, New Jersey and founded in 1973, Kept is the nation’s leading provider of mobile power washing, specialty cleaning and facility maintenance services for customers in commercial, industrial, transportation and government end-markets.
“We are extremely proud of Kept’s growth and business transformation over the course of our ownership,” stated Mo Bawa, Managing Partner at ACON Investments. “Working closely with Kept’s management team, we meaningfully diversified and expanded the Company’s service offering, ultimately leading to a corporate rebranding and accelerated growth – both organic and through over 30 add-on acquisitions. We also implemented industry-leading operational and technology systems across the platform. We believe Kept is exceptionally well-positioned for its next phase of growth.”
“Our investment in Kept exemplifies ACON’s strategy of backing great businesses at pivotal inflection points and assisting them in reaching their next stage of development,” said Ken Brotman, Founding Partner at ACON Investments. “We are proud to have helped institutionalize and grow the Company while preserving its entrepreneurial culture and customer-first mindset. It has been a pleasure working alongside Anthony and Jerry DiGiovanni and the entire Kept team to build a business positioned to lead its industry for years to come.”
“We are grateful to ACON for their partnership and belief in Kept’s potential from day one,” said Anthony DiGiovanni, CEO of Kept Companies. “ACON proved to be a great partner and we look forward to continuing our success with DFW.”
About Kept Companies
Kept Companies is the nation’s leading provider of mobile power washing, specialty cleaning, and facilities maintenance services. With more than 130 company-owned and franchised locations and over 50 years in business, Kept offers a full suite of recurring maintenance services that improve safety, operability, and cost efficiency across critical customer assets. The Company’s broad range of services includes truck and fleet washing, HVAC and refrigeration cleaning, solar panel washing, retail and distribution facility services, and more. For additional information, visit www.keptcompanies.com.
About ACON Investments
ACON Investments, L.L.C. is a Washington, D.C.-based international private equity investment firm with professionals in Washington, D.C., Dallas, Los Angeles, New York, Bogotá, Mexico City, São Paulo, and Madrid. Founded in 1996, ACON has managed over $7.2 billion of capital and has a 29-year track record of investing in middle-market businesses across the United States, Latin America, and Europe. For more information, visit www.aconinvestments.com.
About DFW Capital Partners
DFW Capital Partners is a private equity firm focused on providing growth equity and equity sponsorship of middle-market companies, with over $2 billion in assets under management. The firm’s focus for the past 25 years has been on niche service businesses with strong operating management, where the firm can add value in crafting and executing on a strategic growth plan. DFW brings a partnership-oriented approach to investing alongside management teams and has a demonstrated track record in investing in and supporting businesses in industrial services, business services and healthcare-related outsourcing. To find out more, visit, www.dfwcapital.com.
Media Contact:
Meena Thever
Partner, Head of Capital Formation and Investor Relations
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(202) 454-1100