HOUSTON--(BUSINESS WIRE)--The CapStreet Group (www.capstreet.com) is pleased to announce the completion of a majority recapitalization of Creative Resource Group, Inc. (“CRG”) (www.crg-us.net) in partnership with members of senior management.
Founded in 2005 by Bill Taylor and his daughter Brandi Taylor and headquartered in Dayton, Texas, CRG provides a range of transportation and facility services primarily serving clients in the refining and petrochemical industries during maintenance, turnaround and construction activities. CRG’s transportation division provides outsourced busing and logistics services to plant owners and contractors during maintenance or capital jobs. CRG also provides nested plant maintenance services and safety and general labor personnel during large scale turnaround and capital projects.
“We are delighted about our new partnership with CapStreet. CapStreet has a great reputation and a significant amount of experience in successfully growing companies like ours. We look forward to working with the CapStreet team and leveraging their expertise as we enter into our next phase of growth,” said Bill Taylor, founder and CEO.
In addition to the existing management team, Brian Bourque has joined the company as Chief Operating Officer. Bourque has extensive experience working with industrial service companies and was previously the CFO and Executive Vice President of Sprint Industrial Holdings, a former CapStreet portfolio company.
“We are excited to partner with the Taylor family. Bill and Brandi have built a high quality business and we look forward to working with them to accelerate growth. We are also excited to have recruited Brian to the team. Brian is a highly experienced executive in the industrial space and we look forward to working with him again,” added Paul De Lisi, a partner at CapStreet.
Over the course of its history, CapStreet has had notable success in recapitalizing niche service companies, including several in the industrial segment, and the CRG transaction represents the firm’s continued investment in this sector. CRG is the second investment for CapStreet IV, the firm’s most recent fund, which has $340 million of committed capital and focuses on diversified business service and industrial distribution and manufacturing companies.
IVS Investment Banking served as financial adviser to CRG, and financing was provided by Amegy Bank.
The CapStreet Group is a Houston-based private equity firm founded in 1990 that invests in owner managed, lower middle market companies headquartered in Texas and surrounding states, with a particular emphasis on companies headquartered in the greater Houston area. CapStreet targets companies operating in the industrial distribution, industrial manufacturing and business service sectors and partners with management to accelerate growth and improve profitability. For more information, visit The CapStreet Group website, www.capstreet.com.