TVC Enterprises, an Oklahoma City-based provider of legal services to commercial truck drivers, was recapitalized by Gauge Capital.
No financial terms were disclosed for the deal, which was done in partnership with TVC’s owners and management team. In conjunction with the transaction, Tom McKelvey, James Jackson and Reid Barnett from Gauge Capital joined TVC Enterprises’ board of directors.
Founded in 1988 and led by Steve Hanebaum, CEO, TVC is a provider of value-added services to commercial truck drivers across the United States, including legal services to commercial drivers.
The company delivers its services through a network of over 7,000 attorneys that covers virtually every jurisdiction in the US. Through this network, TVC assists over 50,000 commercial drivers with both moving and non-moving violations. TVC also offers its drivers a fuel discount program, roadside assistance and insurance products.
Through a separate division, it also offers nationwide licensing and outsourced services to several third-party motor club programs throughout the US.
Gauge Capital is a private equity firm that partners with owners, managers and equity stakeholders of middle market companies to maximize their potential. It focuses on investing in growing services and technology-enabled companies in the business and consumer, healthcare, industrial and food sectors.