CASE STUDY

DPIS Logo.png

Provider of QA services for residential builders

Recapitalization | December, 2014
Exit | July, 2019

Background  

Established outside Houston, TX in 1988 as a home inspection firm, DPIS Builder Services (“DPIS”) has grown to a leading provider of quality assurance services to residential builders. DPIS provides full-service engineering and inspections, and as of 2014 had grown to serving customers in four Texas regions. The company’s founder was seeking a transaction that would provide liquidity and a venue to retirement for certain original management members along with career and ownership opportunities for next generation managers. DPIS characteristics included: (i) strong base of recurring revenues; (ii) operation in attractive/favorable geography; (iii) cyclical end markets; (iv) robust, proprietary IT systems; and (v) deep management team.

Transaction & Post Closing 

In December 2014, Bel Air principals were part of a private equity team that sponsored the recapitalization of DPIS in a transaction that generated liquidity for the original management group along with ownership and increased responsibilities for next generation managers. The deal was completed in conjunction with a strong operating executive who joined the board to help support DPIS’ growth strategy. Post-closing accomplishment include: (i) recruitment of strong CEO and CFO; (ii) expansion into a new operating territory; and (iii) the acquisition of four energy testing and inspection firms in new and existing geographies. In July 2019, DPIS was sold to private equity firm Saw Mill Capital. The transaction provided significant liquidity and ongoing career/ownership opportunities for management.

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