HOUSTON, TEXAS (March 12, 2018) – Statesman Corporate Finance, LLC (“Statesman”) is pleased to announce that its client DTK, Inc. (“DTK”), has been recapitalized by a Private Investor Group. Statesman served as the exclusive financial advisor to DTK throughout the transaction that closed on February 15, 2018.
DTK, founded in 1996 and headquartered in Houston, is a specialized facility services provider serving the niche market segments of churches, private schools, and athletic clubs, in addition to traditional commercial buildings and complexes. DTK is one of the leading independent janitorial and facility services providers in Texas, and the premier provider to the niche end markets it serves. Today, DTK provides services at over 1,000 locations, employs nearly 800 people, and has expanded its reach to four additional states beyond Texas. In 2014, DTK acquired Superior Sanitation, Inc. (“SSI”) of Dallas, which gave DTK a solid presence in the north Texas market and also brought a strong competency in the grocery floor and counter care space. SSI operates as a wholly-owned subsidiary of DTK.
DTK is poised for continued growth and the recapitalization will allow management to accelerate that objective through greater access to capital and leveraging investor relationships. DTK was recapitalized by a private investor group led by Ryan Bishop, a successful Houston real estate and business professional, with strong connections to property owners and managers throughout Texas. Commenting on the transaction, DTK’s founder, Trey Vick said “I am very pleased to begin the leadership transition to Ryan and to assist in the exciting growth and continued development of the business Ryan and his investors envision. Ryan understands our unique customer base and his commitment to DTK’s core values of integrity, honesty, respect, value, and dependability were key considerations in choosing who we should partner with. Ryan is committed to maintaining our unique culture and building upon the trust and confidence our many long-term clients have placed in us. Additionally, we greatly enjoyed working with the Statesman team who helped us to fully evaluate our options and whose consultation was instrumental in getting a favorable transaction for all the DTK constituents.”
About the other transaction participants
Statesman Corporate Finance, LLC (Houston, TX) served as exclusive financial advisor to DTK, Inc. on this transaction and is the FINRA-licensed broker dealer affiliate of Statesman Business Advisors, LLC. With offices in Houston and Austin, Texas, Statesman is a leading middle-market investment banking firm providing merger and acquisition, capital formation, valuation and other general corporate financial advisory services to middle-market companies. The Statesman team advising on this engagement included Principal Will Jaco, and Vice President Peter Chiu.
The Private Investor Group is led by Ryan Bishop, a successful Houston real estate and business professional, with strong connections to property owners and managers throughout Texas. Ryan was formerly Executive Vice President of Stream Realty.
Legal counsel for DTK was Robert Beasley of Weycer, Kaplan, Pulaski & Zuber, P.C. and tax / accounting advice was provided by Matt Aycock, CPA and Jason George, CPA of Aycock & Company, PC.
Legal counsel for the buyer was Ricky Torlincasi and Andrew Rosell of Winstead, PC.