Eberhart Capital Buys Van Damme Trucking
Aug. 18, 2020 - Eberhart Capital LLC, Scottsdale, Arizona, a private equity firm, has acquired M. J. Van Damme Inc., of Gwinn, Michigan, in a $20-$50-million-dollar deal.
This investment is the company's third construction acquisition in 2020.
Eberhart Capital LLC portfolio includes companies around the United States in the construction, logistics, manufacturing, and energy industries.
Adding M. J. Van Damme Inc. is mutually beneficial because it provides access to a strong construction provider in addition to Van Damme’s trucking and quarry expertise.
"Michigan was and remains an important state for industry," said Dan K. Eberhart, managing director of Eberhart Capital. "By expanding into the state and acquiring such a strong firm as M. J. Van Damme Inc., we're confident that we can leverage our best growth practices to further expand our market share and reach."
Eberhart said Van Damme fills an important role in the region by focusing on mine site services and support as well as on loading and hauling material management. The company takes advantage of otherwise waste materials to meet construction needs. For instance, when a papermill produces paper waste, the company is able to use the waste product as a binder in other land reclamation projects. The practice reduces its customers’ costs while preventing wasted materials.
Van Damme Inc.'s 130 employees currently provide specialized construction support services, trucking and transportation, construction materials, fugitive dust control, snow removal and management, land development, and exploration drilling support.
It has served mining, farming, and civil construction in the Midwest, including Michigan's Upper Peninsula and northern Wisconsin for 20 years. The company hauled 2 million metric tons last year.
"We look forward to expanding our reach into new areas with this opportunity to be a part of Eberhart Capital," said Jim Delmont, the vice president of M. J. Van Damme Inc. "With new access to capital, other resources, and expertise, we know that the partnership will benefit our existing and future clients. It will be an exciting growth opportunity for our employees."