CVC Marathon Leads $175 Million Acquisition Financing to Combine Jack Doheny Companies and Vacuum Truck Rentals

Capital Solution supports the creation of Rentix Solutions, a national platform for specialty infrastructure equipment rental

NEW YORK--(BUSINESS WIRE)--CVC Marathon, a leading global asset manager specializing in public and private credit markets with $24 billion in assets under management, and a subsidiary of CVC Capital Partners, announced the successful completion for the $175 million acquisition financing, which in addition to new bank financing and financial sponsor equity, funded Jack Doheny Companies’ ("JDC") acquisition of Vacuum Truck Rentals ("VTR").

The combined company, which has been renamed Rentix Solutions ("Rentix") maintains a fleet of over 3,200 pieces of specialized equipment across a national footprint. Rentix’s fleet consists of specialized infrastructure equipment that is unmatched in the non-cyclical industrial equipment market, where the fleet is regularly utilized for mission-critical services such as sewer maintenance and inspection, electric transmission and distribution repairs and maintenance, and industrial plant maintenance.

CVC Marathon’s tailored capital solution provides a $175 million secured loan with a 5-year maturity to support the creation of Rentix. CVC Marathon worked hand-in-hand with Kinderhook Industries, the private equity owner of JDC, and with Payton Lockey and B.T. Steadman, the owners of VTR, to develop a financing structure that ensured that the ownership team has the financial flexibility that it needs to execute on its business plan. CVC Marathon is known for providing capital solutions for growing businesses and is prepared to provide Rentix additional capital in the future, if deemed necessary.

Randy Raisman, CVC Marathon’s Head of U.S. Opportunistic Credit, said, “We are pleased to partner with Rentix and the ownership team to provide a bespoke capital solution to the nation’s leading provider of mission-critical, highly-specialized equipment for critical applications in the sewer maintenance and inspection, electric transmission and distribution and industrial end markets. We take great comfort in the quality of Rentix’s highly specialized fleet, which when combined with Kinderhook and Management’s vision for the next phases of growth for the business, creates an opportunity for us to lend against high-quality assets while backing a best-in-class management team.”

“Creative partnership with industry leading companies and management teams, such as Rentix, is the cornerstone of CVC Marathon’s Opportunistic Credit business,” said Louis Hanover, CVC Marathon’s Chief Investment Officer. “CVC Marathon’s leading Opportunistic Credit program is designed to provide creative capital to leading businesses worldwide, supporting long-term value creation across a wide variety of strategic purposes including strategic financings for growth, transitional financings for turnarounds, acquisition financings, and refinancings.”

About CVC Marathon

CVC Marathon, formerly known as Marathon Asset Management, L.P., is a wholly-owned subsidiary of CVC Capital Partners, plc, as of July 1, 2026. CVC Marathon is a leading global asset manager, specializing in public and private credit markets with over $24 billion in AUM. Founded in 1998, CVC Marathon’s comprehensive platform spans the credit spectrum with expertise in Direct Lending, Asset-Based Lending, and Opportunistic Credit, along with multi-asset public credit that includes Broadly Syndicated Loans, CLOs, High Yield, Emerging Markets, and Structured Credit. For additional information, please visit www.marathonfund.com.