Dickinson Fleet Services, an Indianapolis-based technology-enabled service provider in the vehicle fleet maintenance industry, received an investment from Ridgemont Equity Partners, a middle market private equity firm.
Financial terms of the transaction were not disclosed.
The company will use the funds to invest in technology, mobile service capabilities, acquisitions and additional locations and to increase its national presence.
Founded in 1997 and led by Bob Dickinson, Dick Dickinson, Mike Dickinson and Ted Coltrain, Dickinson Fleet Services provides repair and maintenance services for vehicle fleet owners and operators across the United States. The company operates a network of mobile technicians, in addition to 15 branch locations and a national fleet maintenance program. DFS utilizes a proprietary software platform to manage all aspects of fleets’ maintenance programs, streamlining communication and providing comprehensive data to customers to allow for improved vehicle uptime and enhanced operating cost control.
Periculum Capital Company served as financial advisor to Dickinson Fleet Services. Financing for the transaction was provided by Crescent Direct Lending, BMO Sponsor Finance, AlpInvest Partners and PNC Erieview Capital. Alston & Bird LLP provided legal services to Ridgemont, and BMO Capital Markets served as financial advisor to Ridgemont.