Balance Point Capital and Dubin Clark & Company have partnered on the acquisition of Johnny on the Spot (JOTS), a New Jersey-based provider of portable toilets. The company also specialises in septic maintenance of commercial and residential properties.
Dubin Clark provided equity for the deal, partner Michael Hompesch told Private Debt Investor. Balance Point provided mezzanine and an equity co-investment. Terms of the deal were not disclosed.
Company president Jesse Thompson will remain in his current position and retain a significant number of shares, according to a statement released Monday.
“This transaction is quintessential Balance Point: helping successful businesses like JOTS enter the next chapter in their evolution by providing differentiated capital and leveraging our network,” said Balance Point partner Justin Kaplan in a statement. “We look forward to supporting the many men and women who comprise the JOTS team and have contributed to its growth trajectory.”
Kaplan had not responded to a request for comment at press time.
Balance Point typically provides $5 million to $20 million in mezzanine or equity financing to US companies with at least $2 million in EBITDA. The firm closed its fourth fund in 2011 on $42 million, according to Private Equity International’s Data and Analytics division.
Earlier this year, the firm provided $5 million of senior subordinated notes in support of Digity MediaBalance’s acquisition of NextMedia Operating.