Cyprium Investment Partners, a non-control private equity firm, completed a subordinated debt investment in D.P. Nicoli, a provider of shoring equipment rental services to utilities, municipalities and contractors in Oregon, Washington, California and Idaho. D.P. Nicoli used proceeds of the investment to support a recapitalization transaction with a newly formed employee stock ownership plan (ESOP).
“We chose Cyprium to provide junior capital based on their 20-year history of supporting independent businesses and experience with ESOPs and the equipment rental industry,” Dave Nicoli, president of D.P. Nicoli, said.
“Dave and his team have built an excellent business driven by a strong culture of customer service, safety and employee development,” Dan Kessler, a partner at Cyprium Partners, said. “We are excited to work with the management team and employee-owners in the next phase of the company’s growth.”
