ACON Investments Completes Successful Exit of Kept Companies to DFW Capital Partners

ACON Investments Completes Sale of Kept Companies

Washington, D.C. - ACON Investments, a prominent figure in private equity, has announced the successful sale of its equity interests in Kept Companies to DFW Capital Partners. This move reflects ACON's ongoing strategy of facilitating growth for niche businesses at critical inflection points.

Founded in 1973 and based in Fairfield, New Jersey, Kept Companies stands out as the leading provider of mobile power washing, specialty cleaning, and facilities maintenance. The firm caters to a diverse clientele including commercial, industrial, and government sectors, ensuring that vital services enhance safety and cost-efficiency for their customers.

The transaction terms have not been disclosed, but ACON’s Managing Partner, Mo Bawa, expressed pride in Kept’s evolution over their ownership period. He noted, "We significantly diversified and expanded Kept's offerings, leading to a corporate rebranding and strategic growth, both organically and through over 30 acquisitions."

ACON's effort to remodel Kept's operational systems has successfully positioned the company for sustained growth. Bawa emphasized the implementation of advanced technology throughout the platform, which will assist Kept in its next growth phase.

According to Ken Brotman, Founding Partner at ACON Investments, this sale exemplifies their strategic approach of backing promising businesses during pivotal transitions. He highlighted their commitment to maintaining Kept’s entrepreneurial spirit while driving operational enhancements and growth.

In a statement, Anthony DiGiovanni, CEO of Kept Companies, conveyed gratitude towards ACON for their belief in the company’s capabilities from the beginning. “We look forward to continuing our success with DFW,” he added.

The Growth Journey of Kept Companies

With over 130 locations across the United States, Kept Companies has solidified its market position through an extensive suite of recurring maintenance services. These include truck and fleet washing, cleaning HVAC and refrigeration systems, solar panel maintenance, and specialized services for retail and distribution facilities. Established for more than half a century, Kept also focuses on enhancing operational safety while promoting cost savings for its clients.

ACON Investments and DFW Capital Partners

ACON Investments, with a presence spanning multiple major cities including Dallas, Los Angeles, and Madrid, boasts a robust track record since its establishment in 1996. The firm has managed over $7.2 billion in capital, investing across middle-market businesses in the Americas and Europe.

On the other hand, DFW Capital Partners specializes in growth equity investments, particularly in niche service sectors, and has accumulated over $2 billion in assets under management. Their focus is to partner with management teams, leveraging their expertise to drive strategic growth initiatives, thus enhancing business value.

Future Prospects

With this sale, both ACON Investments and DFW Capital Partners are poised to leverage their strengths and expertise toward enhancing Kept's operational capacity and market footprint further. Gazing into the future, this transition signals a promising trajectory for Kept Companies in the competitive landscape of facilities maintenance services.

In conclusion, the sale marks a transformative chapter in Kept's history, and both ACON and DFW look forward to embarking on new ventures built on the solid foundation established through years of dedicated service in the niche market of cleaning and maintenance services.