Eberhart Capital Acquires M. J. Van Damme Trucking Inc. in S
SCOTTSDALE, Ariz., Aug. 11, 2020 /PRNewswire/ -- Eberhart Capital, LLC, Scottsdale, Ariz.-based private equity firm, acquired M. J. Van Damme Inc. in Gwinn, Michigan in a $20-$50 million dollar deal. This investment is the company's third construction acquisition in 2020.
Eberhart Capital, LLC's existing portfolio includes companies around the United States in the construction, logistics, manufacturing, and energy industries. Adding M. J. Van Damme Inc. will be mutually beneficial to all of these companies by providing access to a strong construction provider in addition to their trucking and quarry expertise.
"Michigan was and remains an important state for industry," said Dan K. Eberhart, Managing Director of Eberhart Capital. "By expanding into the state and acquiring such a strong firm as M. J. Van Damme Inc., we're confident that we can leverage our best growth practices to further expand our market share and reach."
Eberhart said M. J. Van Damme fills an important role in the region focusing on mine site services and support as well as load and haul material management. The company has an interesting role in the construction industry by taking advantage of otherwise waste materials to meet construction needs. For instance, when a papermill produces paper waste, the company is able to use the waste product as a binder in other land reclamation projects. This practice reduces costs for their customers and prevents wasted materials.
M. J. Van Damme Inc.'s 130 employees currently provide specialized construction support services, trucking and transportation, construction materials, fugitive dust control, snow removal and management operations, land development, and exploration drilling support. It has served mining, farming, and civil construction operations in the Midwest, including Michigan's Upper Peninsula and Northern Wisconsin for the past 20 years. The company hauled 2 million metric tons last year.
"We look forward to expanding our reach into new areas with this opportunity to be a part of Eberhart Capital," said Jim Delmont, the Vice President of M. J. Van Damme Inc. "With new access to capital, other resources, and expertise, we know that the partnership will benefit our existing and future clients. It will be an exciting growth opportunity for our employees."
About Eberhart Capital, LLC
Eberhart Capital, LLC is a leading private equity firm focusing on building and growing portfolio companies operationally & financially in various business sectors. The group's portfolio includes four main divisions: construction, industrial, energy, and trucking, the primary objective is to build an investment portfolio focused on long-term capital appreciation. Managing Director Dan K. Eberhart's economic commentaries are frequently mentioned on major TV or print outlets or his regular Forbes column.
About M. J. Van Damme Inc.
M. J. Van Damme Inc. is a construction firm in Gwinn, Michigan that offers a wide range of mine site services and support as well as load and haul material management. Their varied jobs range from specialized construction support, trucking and transportation, construction materials, fugitive dust control, snow removal, management operations, land development, and exploration drilling support. It has provided services in the upper midwest for over 20 years.
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SOURCE Eberhart Capital, LLC