McColl Partners, LLC acted as financial advisor to PORTA-JON of the Piedmont, Inc. ("PORTA-JON") in its sale to Prometheus Partners ("Prometheus"). As part of the transaction, Prometheus will combine the operations of PORTA-JON and Spanky's Portable Services, Inc. ("Spanky's"), an existing portfolio company of Prometheus, to create Portable Facilities Holdings, Inc. ("Portable Facilities").
Through its two operating subsidiaries, Portable Facilities will maintain a leadership position across the Carolinas and Southern California with over 19,000 portable restrooms. Flay Anthony and J. P. O'Neil will remain as Presidents of PORTA-JON and Spanky's, respectively, and Ned Carpenter will be the chairman of the combined company.
About PORTA-JON of the Piedmont, Inc.
PORTA-JON, based in Gastonia, North Carolina, provides portable restroom and construction debris services for residential and commercial construction sites across North Carolina and South Carolina. Established in 1969, PORTA-JON serves leading commercial and residential builders, special event coordinators, and public works projects across a 14-county market. As a result of strong organic growth, strategic acquisitions, and talented management, PORTA JON has established a market leadership position with over 7,200 portable restrooms and a suite of complementary service offerings.
About Prometheus Partners, LP
Prometheus Partners is a smaller middle-market private equity firm based in Atlanta, Georgia. Prometheus seeks to invest in growth companies within fragmented industries that are undergoing consolidation with a primary focus on route-based service businesses and nationally-franchised restaurants. Acquired by Prometheus in 2004, Spanky's is a provider of portable restroom services for residential and commercial construction sites, and special event coordinators in Southern California. Over the last four years, the company has grown to become the market leader in Southern California with a leading market position in San Diego County, San Bernardino County, and Riverside County.
About McColl Partners, LLC
McColl Partners is an independent investment banking firm specializing in the needs of management and owners of middle-market companies. With significant experience working with private equity groups, entrepreneurs, family-owned businesses, public companies, financial institutions, and divisions of large companies, the firm is dedicated to offering strategic advice and assistance to its clients regarding mergers and acquisitions and private capital raising assignments.
For more information about our Business Services Group, please contact Eric Andreozzi at (704) 333-0525. More information about McColl Partners can be found at www.mccollpartners.com.
