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DBi Services brings in financial partner to accelerate continued growth

DBi Services brings in financial partner to accelerate continued growth

Paul and Neal DeAngelo will remain invested in DBi as the company prepares to further capitalize on the market need for outsourced solutions for transportation infrastructure.

Nearly 40 years ago, Hazleton-born high school graduates Paul and Neal DeAngelo founded DBi Services with a $2000 loan and a Ford pickup truck. Today, DBi is one of North America’s largest and leading transportation infrastructure operations and maintenance companies, working on projects that include the Woodrow Wilson Bridge, the largest bascule span drawbridge in the world, and the Sunshine Skyway Bridge, the world’s longest cable-stayed concrete bridge.

DBi has seen tremendous growth over the last 38 years due to the commitment of its founders and its dedicated employees. To further fuel this growth and build upon its position as a market leader, DBi has partnered with Sterling Partners, a growth-oriented investor based in Chicago. In working with Sterling, DBi now has a committed financial partner who is entirely focused on DBi’s future success.

Founded in 1978, DBi began as a small commercial residential maintenance company working for friends and neighbors. Since its founding, the DeAngelo brothers have re-invested 90 percent of the profits back into the business. Over the past 38 years, DBi has grown at an average annual rate of 15 percent and now generates several hundred million dollars in revenue per year, with more than 1500 employees in 50 locations around the world. With Sterling’s support, the company will maintain its ambitious growth objectives and a goal to double or even triple the size of the business over the next several years.

Over the course of its history, DBi has created local, national and increasingly international career development opportunities, executed nearly 25 strategic acquisitions, elevated the importance of employee workplace safety and positively impacted the Hazleton economy through the support of local charities and community activities, and a downtown expansion. Continued and sustainable market growth requires investment, and the DeAngelos spent over a year looking for the right financial partner before choosing Sterling Partners.

“This is an exciting new chapter for our company and our community, but in many respects, things at DBi will not change. I know I personally have the same passion and excitement about DBi’s future as I did 38 years ago. The DBi name is staying the same, and we are staying committed to Hazleton and growing our business,” said Paul DeAngelo. “We now have a committed financial partner who we have gotten to know very well over the past nine months, whose entrepreneurial culture and growth-oriented mission tightly aligns with our family-oriented culture and mission. Bringing in Sterling gives us access to additional resources, strategic industry relationships and operational best practices that will create jobs and promotion opportunities, and have a positive impact on our local community and beyond.”

While DBi will continue to run its business in the same way with the same vision, the partnership with Sterling allows DBi to invest in more resources, build upon its position as a market leader, offer many additional career development opportunities and job stability, and further support its customers in the United States and abroad. For 20 years, Sterling has helped businesses in the industrial services sector mitigate risk while increasing revenue, efficiency and quality.

“This step is a natural progression in the long life of our business. We felt it was time to proactively prepare for the next phase of DBi by bringing in the right partner,” said Neal DeAngelo. “DBi was built on a culture of taking care of our employees and our customers, and providing the highest levels of service and satisfaction. That will continue tomorrow and well into DBi’s future.”

Notable highlights in DBi’s nearly 40-year history include:
1988 – Awarded first roadside maintenance contract for PennDot District 8
1992 – Awarded first Class 1 Railroad business
1995-2002 – Completed 15 successful acquisitions
1995 – Opened first branch office in Chicago
1996 – Ranked in Inc. magazine’s “500 Fastest Growing Privately Held Companies in the US”
2000 – Moved headquarters to current facility in Hazleton
2002 – Won first major infrastructure contract
2011 – Completed acquisition of Prismo in the UK
2013 – Celebrated 35th anniversary
2014 – Ranked by FleetOwner magazine as one of the largest private fleets in America, above Coca-Cola, Hertz and Staples
2016 – Partnered with Sterling Partners to accelerate growth

“We see a lot of investment opportunities, but it is not often we see one as exciting as DBi,” said Matt Hankins, Principal at Sterling Partners. “As former entrepreneurs ourselves, we’ve always had a strong appreciation for the people who run the business. We believe in investing in people and we will do that here, just as Paul and Neal have done over the years, to catalyze DBi’s growth.”

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About DBi Services
DBi Services is headquartered in Hazleton, PA. Founded in 1978 by Neal and Paul DeAngelo, DBi has a worldwide network of over 50 locations and 1500 employees, providing infrastructure maintenance, management and operations solutions to government agencies, railways, utilities and private industries. For more information, visit www.dbiservices.com.

About Sterling Partners
Sterling Partners is a private equity firm with a distinct point of view on how to build great companies. Founded in 1983, Sterling has invested billions of dollars, guided by the company’s stated purpose: INSPIRED GROWTH®, which describes Sterling’s approach to investing in differentiated businesses and growing them in inspired ways. Sterling focuses on investing growth capital in middle market companies in the healthcare services and business services industries. Sterling provides valuable support to the management teams of the companies in which the firm invests through a deep and dedicated team of professionals, including a strong network of outside directors and advisors. The people at Sterling believe in ideas and ideals, in people and in partnerships that drive long-term success. For more information, visit www.sterlingpartners.com.

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