The combined presence of DBI and ERI will bolster the market presence and service offerings of both companies. DBI was founded in 1992 and is headquartered in Lenexa, KS.
Fremont, CA: Non-destructive testing, pipeline integrity inspections, mechanical integrity inspections, and heat treatment services provider DBI Group received an investment from Spice Capital Partners. The amount of the deal was not disclosed. Spice Capital Partners is a New York-based private equity firm specializing in technology-enabled business services, media, communications, and the education sector. The company's simultaneous acquisition of DBI and merger with existing portfolio company ERI Solutions brings together two testing, inspection, certification, and compliance providers.
"We are excited about our future together with ERI and view this as an opportunity for growth in expanded geographies and with additional technologies. Our customers will continue to receive excellent service as we strengthen the combined company with client-facing enhancements and a more diverse service line. We also believe this merger will provide professional growth opportunities for the members of our team," stated Jeff Hilfiker, President & CEO of DBI.
The combined presence of DBI and ERI will bolster the market presence and service offerings of both companies. DBI was founded in 1992 and is headquartered in Lenexa, KS. The company is an industry leader providing its services across the U.S. Dentons US LLP served as legal counsel to Spire Capital for the investment round. Bridgepoint Investment Banking acted as an exclusive financial advisor to DBI and Koley Jessen served as legal counsel.
"With this combination, ERI and DBI will serve a broad base of energy and infrastructure customers across the U.S., playing a critical role in mitigating business and regulatory compliance risk," said Brad Johnson, Vice President at Spire Capital. "As a single company, ERI and DBI will be able to provide comprehensive service offerings to customers across the country. Spire is excited by the growth prospects of the combined company and looks forward to working closely with management."
ERI was founded in 2007 and is a provider of risk control solutions that were specifically designed to control operational risks in higher-hazard businesses. "DBI's great industry reputation, top-notch team, blue-chip client roster, and safety record make them a great addition to ERI," stated Nathan Vander Griend, President & CEO of ERI. "Furthermore, we believe that this integration will lead to significant business growth, providing opportunities for the members of the team to grow professionally, for our combined clients to have access to a more diverse suite of service offerings, and for our shareholders' value to increase."