DBi Services Acquires Texas Tree & Landscape LTD
Effective June 2 2014, DBi Services has acquired the assets of Texas Tree & Landscape LTD. Located in Waco, Texas and employing over 150, Texas Tree has been established in the Waco area for over eight years, under ownership of Larry Cathey.
DBi will operate the business under the name DBi Services, maintaining operations in the current Waco location, while also opening an additional location in Houston. DBi will continue to provide quality general contracting services, as well as integrate its own diverse infrastructure services. This acquisition now positions DBi as one of the largest highway maintenance contractors in Texas.
“The management tools and processes DBi brings to the table will fulfill the vision of Texas Tree management in becoming the largest asset management and highway maintenance company in Texas,“ said Cathey. “The innovative way DBi manages its contracting operations will ensure our customers receive the highest level of service.”
On April 15, the first phase of the acquisition was completed with the purchase of the TxDOT Asset Management Project in Houston/Harris County, Texas. DBi is responsible for the total asset management of 232 centerline miles and 1662 lane miles of roadway for all primary TxDOT highways inside the “Outer Loop” (with the exception of IH-45). Included are Spur 5, Interstate Highways 610 and 10, and Highways 90, 59, 225, 288, 290 and 528, including service roads.
Through the acquisition, DBi will also become the owner of the Waco District IH-35 Asset Management Contract.
“Texas Tree is a perfect complement to our organization. This acquisition allows DBi to better position itself for growth through offering solutions to the burgeoning Texas transportation market,” said Paul DeAngelo, DBi President. “DBi is excited to be actively pursuing and performing many new activities in operations and maintenance throughout the State of Texas.”
Financing was provided by M&T Bank, with other financial support from Alcentra Capital Corporation, FNB Capital Partners and KCAP Financial, Inc.