FOR IMMEDIATE RELEASE
Ron Liberman, Wind Point Partners
Email: [email protected]
Lance Altizer, D&H United
Email: [email protected]
D&H United Acquires Tanknology
Partnership combines leaders in maintenance and compliance services and establishes national scale
Houston and Austin, Texas, July 5, 2023 – D&H United (“D&H”), a portfolio company of Wind Point Partners (“Wind Point”) and a leading provider of mission-critical maintenance, testing and inspection services for fueling stations and electric vehicle charging infrastructure, is pleased to announce the acquisition of Tanknology, Inc. (“Tanknology” or the “Company”).
Founded in 1988 and headquartered in Austin, Texas, Tanknology is the global leader in environmental compliance testing, inspection and fuel quality solutions. With a mission-critical service offering and over 100,000 site visits per year, the Company is a trusted partner to over 3,000 customers including many of the largest fueling stations, vehicle rental providers, fleets, and healthcare system operators in the United States. Tanknology’s proprietary and patented testing and inspection technology solutions have long been relied on by the infrastructure operators, insurance providers and regulators to set industry standards.
The combined companies will have over 1,150 team members, including 825 field technicians and 33 offices operating across the United States. The acquisition of Tanknology marks D&H’s entry into the Northeast, West Coast and Pacific Northwest markets and expands its service footprint across the Mountain West, Midwest, Southeast and Southwest.
The acquisition of Tanknology solidifies D&H as the national leader in fueling station compliance services and complements its prior acquisitions of Valley Tank Testing and PS&C. Tanknology provides additional scale and coverage to the Company’s compliance services division, which now has a total of 450 employees, including 325 field technicians, dedicated to the compliance service business.
“Our mission has always been to develop technological solutions and provide best-in-class service to meet the complex compliance needs of our customers and international partners”, noted Allen Porter, Tanknology CEO. Further, “I am extremely proud of Tanknology’s employees, our customer-centric culture and 35-year history as the preeminent compliance services provider and innovator of unique testing solutions. This powerful combination of companies further broadens the scope of services to better serve the evolving needs of our clients.”
Bo Sasnett, CEO of D&H stated, “We could not be more excited about this transformative acquisition that brings together two very successful companies. Our vision is to provide our customers with a turnkey suite of site services with coverage and resources across the country. This powerful combination continues our record of exciting growth and success for all our team members and customers. We have the highest regard for Allen and the Tanknology team and are pleased to have them join the D&H family with this groundbreaking partnership.”
Konrad Salaber, Managing Director at Wind Point commented, “Tanknology represents a transformational acquisition, providing D&H with market leadership positions in both maintenance and compliance services. Expanding our geographic presence and compliance services capabilities are key pillars to the D&H value creation plan and we look forward to supporting the growth of the combined business.”
Tanknology represents the third acquisition for D&H since partnering with Wind Point in September of 2022 and the eighth acquisition since the company’s founding in 2015. D&H’s acquisition strategy will continue to focus on partnering with companies that provide mission-critical maintenance, testing and compliance services for fueling and electric vehicle charging infrastructure nationwide.
Wind Point is a longtime investor in route-based services and technical businesses, with select current and prior investments including Smart Care, Pavion, Vertex, Kleinfelder, Valicor, Dicom and AIR-serv.
DLA Piper and Reed Smith served as legal counsel to D&H and KPMG provided transaction advisory services.
About D&H United Fueling Solutions
D&H United Fueling Solutions, an Inc. 5000 company, is the leading supplier of installation, repair and compliance services for fueling and EV charging stations. D&H is an authorized distributor and service provider for Gilbarco Veeder-Root as well as other major equipment brands. The company has 33 branch offices and 1150+ employees operating across the country.
Learn more at www.dh-united.com.
Tanknology, the world’s largest provider of environmental compliance testing, inspection services, corrosion prevention and fuel quality solutions, services more than 85,000 petroleum fueling and storage facilities per year. Tanknology offers more than 30 compliance-related service offerings and holds 22 patents for leak detection and tank monitoring technology. Internationally, Tanknology licensees span more than 20 countries, providing services to the largest petroleum operators in the world.
Learn more at www.tanknology.com.
About Wind Point Partners
Wind Point Partners is a Chicago-based private equity investment firm with $6 billion in assets under management. Wind Point focuses on partnering with top caliber management teams to acquire well-positioned middle market businesses where it can establish a clear path to value creation. The firm targets investments in the consumer products, industrial products and business services sectors. Wind Point is currently investing out of Wind Point Partners X, a fund that was initiated in 2022.
Learn more at www.windpointpartners.com.