Tue, 22/04/2014 - 12:06
Balance Point Capital Partners, a private equity fund focused on providing debt and equity capital to lower middle market companies across the US, has acquired Johnny on the Spot (JOTS).
Founded in 1969 and headquartered in New Jersey, JOTS is a provider of portable toilets and related products to the special event and construction industries, as well as residential and commercial septic system maintenance, inspections, repairs and installations in New Jersey, New York and Pennsylvania.
The company's president and owner, Jesse Thompson, will continue as president and remain a significant shareholder.
"I am very excited about the partnership with Balance Point. I am looking forward to working with my new capital partners to help facilitate and support our growth efforts as we enter a new phase for the company," says Thompson.
Justin Kaplan, a partner with Balance Point says: "We are very excited to have JOTS join the Balance Point portfolio. This transaction is quintessential Balance Point: helping successful businesses like JOTS enter the next chapter in their evolution by providing differentiated capital and leveraging our network. We look forward to supporting the many men and women who comprise the JOTS team and have contributed to its growth trajectory."
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