D.A. Davidson Serves as Financial Advisor to Peninsula Capital Partners and Truesdell Corporation in Sale of Truesdell to Strength Capital Partners

April 15, 2021

D.A. Davidson & Co. is pleased to announce that it has served as financial advisor to Peninsula Capital Partners and the Truesdell Corporation in the sale of Truesdell to Strength Capital Partners. Terms of the transaction were not disclosed.

Headquartered in Tempe, Ariz., Truesdell is a leading concrete infrastructure maintenance and repair services firm, providing bridge repair, concrete surface treatment, and other concrete infrastructure repair and preservation services. With a national presence and a nearly five-decade history of efficient, technical, and high quality project execution, Truesdell enjoys a strong reputation as a leader within its market. Truesdell’s new partner, Strength Capital, is a private investment company based in Birmingham, Mich., focused on investing in U.S.-based businesses specializing in manufacturing, distribution, and infrastructure and industrial services. The seller, Peninsula Capital Partners, is an investment company providing subordinated debt and minority or control equity capital for middle market companies.

“Truesdell Corporation, with the active support of Peninsula Capital, has done a tremendous job establishing itself as the leading national concrete maintenance and repair services provider to critical transportation infrastructure,” said Tim Sznewajs, managing director and head of diversified industrials investment banking at D.A. Davidson. “D.A. Davidson is excited to see Truesdell Corporation enter into a new partnership that will facilitate the company’s continued growth and expansion.”

This transaction highlights the ongoing success of D.A. Davidson’s infrastructure services practice, serving leading firms in the sector.

D.A. Davidson’s investment banking division is a leading full-service investment bank that offers comprehensive financial advisory and capital markets expertise. The group has extensive transaction experience serving middle market clients worldwide across five industry verticals: consumer, diversified industrials, financial institutions, real estate and technology.

Together with its European strategic partner, MCF Corporate Finance, D.A. Davidson originates and executes transatlantic M&A transactions under the common brand of D.A. Davidson MCF International.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 and headquartered in Montana, with corporate offices in Denver, Los Angeles, Portland and Seattle, the company has approximately 1,400 employees and offices in 27 states.

Subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services, and advice; Davidson Investment Advisors, a professional asset management firm; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

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