TGF Management and Austin Ventures Recapitalize ENTACT in Support of Continued GrowthDALLAS / AUSTIN, Texas, October 6, 2010 - ENTACT, LLC (“ENTACT” or “the Company”), TGF Management Corp. (“TGFM”), and Austin Ventures (“AV”) are pleased to announce the recapitalization of ENTACT in support of the Company’s continued growth. The equity investment by TGFM and AV is in partnership with ENTACT’s existing owners, who will remain significant shareholders and active managers of the Company.
ENTACT will continue to be led by its Chief Executive Officer, Dean Pisani. Pisani, along with the rest of the Company’s management team, has been responsible for the Company’s exceptional and consistent growth since its founding in 1991.
"ENTACT is recognized as a premier provider of environmental remediation services and is now even stronger and better capitalized due to our partnership with TGFM and AV" said Pisani. "Our partnership with TGFM and AV, which brings us additional capital and resources, evidences our continued commitment to our customers and employees to invest in and grow our business.”
Greg Tunstall, President of ENTACT, added, “We are very excited to add TGFM and AV to the ENTACT team. Our Company is well-positioned to add new customers and capabilities as we continue to successfully address our clients’ most challenging projects. TGFM and AV have a history of partnering with industry-leading companies and management teams to build great businesses. We are excited to have these investment partners support ENTACT’s commitment to excellence and desire to establish long-term client relationships through partnering, creativity, and risk management.”
The transaction closed on September 30, 2010, and the financial terms were not disclosed. Fifth Third Bank led a senior credit facility in support of the transaction. BMO Capital Markets served as the exclusive advisor to ENTACT for the transaction.
ENTACT is a recognized industry leader in providing environmental remediation and construction services throughout the United States, Canada, Mexico, and select international locations. Established in 1991 in Dallas, Texas, ENTACT was founded on the belief that regulatory compliance, technical excellence, safe field performance, and sound business practices are all necessary to deliver outstanding environmental remediation projects. The Company directly performs environmental, geotechnical and design/consulting services for a variety of customers including many Fortune 500 companies in the oil and gas, chemical, mining and metals, transportation and heavy manufacturing industries. Today, ENTACT serves its customers and operates out of nine regional offices in Dallas, Chicago, Houston, Pittsburgh, Boston, Charleston, Greensboro, Philadelphia, and San Francisco.
About TGF Management Corp.
Austin, Texas-based, TGF Management Corp. is one of the oldest and most active private equity firms in the Southwest, focusing on partnering with management teams and operational executives in the acquisition of middle market companies. Since 1992, TGFM has invested in over 40 companies with combined revenue in excess of $3.5 billion. TGFM currently manages in excess of $700 million on behalf of the Texas Growth Fund, and its latest private equity fund, Southwest Opportunity Partners, L.P. For further information, call 512.322.3100 or visit TGFM’s website at www.tgfmanagement.com.
About Austin Ventures
Austin Ventures (“AV”) has worked with talented entrepreneurs to build valuable companies for over twenty-five years. With $3.9 billion under management, AV is the most active venture capital and growth equity firm in Texas and one of the most established in the nation. With an investment focus on business services and supply chain, financial services, new media, Internet and information services, software, and Texas special situations, AV invests at all stages of company development, from $100,000 in “planned experiments” in early stage ideas to $100+ million investments in expansion rounds, minority recapitalizations, and buyouts of lower middle market growth companies. AV’s strategy is to partner with talented executives and entrepreneurs through its CEO-in-Residence and Entrepreneur-in-Residence programs. Visit www.austinventures.com for more information.