MIAMI, FL – (August 29, 2016) Trivest Partners (“Trivest”) announces it has recapitalized Dauenhauer Plumbing (“Dauenhauer” or the “Company”), the leading provider of maintenance and new installation plumbing services in Kentucky. Jason LeBoeuf and Chris LeBoeuf, CEO and Executive Chairman, respectively, will continue to lead the Company’s daily operations. The Dauenhauer transaction represents the 10th platform company investment in Trivest Fund V, a $415 million fund dedicated to investing in founder/family-owned businesses.
Dauenhauer is the largest plumbing services company in Kentucky and has earned a strong reputation in its market over the 58 years it has been in business. Completing over 30,000 service calls annually, Dauenhauer has built a loyal customer base by providing customers with quick and reliable plumbing services at a fair price at any hour of the day. For new installation, Dauenhauer’s customer base is comprised of the largest developers in the Kentucky and Southern Indiana market which has exhibited positive population and demographic trends over the past 15 years. With strong leadership and a highly cohesive team, Dauenhauer has achieved significant growth over the past decade and has identified specific initiatives to continue on this trajectory. Trivest’s support will allow Dauenhauer to continue expanding the Company’s service fleet and also expand into tangential service offerings.
“The partnership with Trivest will allow Dauenhauer to continue our growth plans and strengthen our leading position in Kentucky and Southern Indiana,” said Jason LeBoeuf, “Both Chris and I felt Trivest’s culture and approach to executing growth strategies lined up very well with ours at Dauenhauer. Additionally, the expansive toolkit they bring to the table with 35 years of experience will be very useful especially as we target add-on acquisitions, and we are very excited about the partnership.”
Forest Wester, Partner with Trivest, commented, “We are extremely excited to be partnering with Dauenhauer Plumbing. The Company has built a brand name that is second to none in its market and their proven track record of growth and tireless focus on customer service make this a great platform to build on. Trivest intends to support the Company’s active pursuit of organic expansion and acquisition opportunities with a clear strategic fit.”
About Trivest Partners:
Trivest Partners is a private investment firm that focuses on partnering with founder/family owned businesses in the United States and Canada. Since its founding in 1981, Trivest has completed more than 225 transactions, totaling in excess of $5.5 billion in value. For additional information, please visit www.trivest.com.
About Dauenhauer Plumbing:
Founded in 1958, Dauenhauer Plumbing is the leading provider of repair and maintenance plumbing services for residential and commercial customers and also the leading provider of new plumbing installation in Kentucky and Southern Indiana. Dauenhauer’s skilled, licensed plumbing technicians provide customers with efficient, professional service and ensure that any plumbing problems are taken care of fast, even on nights and weekends. For additional information, please visit www.dauenhauerplumbing.com.
