June 28, 2021

Southfield, MI – VESTA Modular (“VESTA” or the “Company”) a portfolio company of Kinderhook Industries, LLC (“Kinderhook”) is pleased to announce the acquisition of Dallas based BD Modular (“BD”). This is VESTA’s second add-on acquisition since partnering with Kinderhook in December 2020. Financial terms of the transaction were not disclosed.

Founded in 2016 and headquartered in Dallas, TX, BD Modular is a rapidly growing provider of temporary and permanent modular buildings. BD serves clients in the education, industrial, construction, government, and retail sectors and has become a market-leader in the Southern United States.

“We have been competing with the BD team for years and we are very excited to have them on the VESTA side going forward,” said VESTA CEO Dan McMurtrie. “Bryan and Dehn will help us solidify our presence in the Southwest as we continue our expansion plans west of the Mississippi River.”

BD Founders Bryan Sulton and Dehn Smith will assume the roles of VP of Sales and VP of Accounting, respectively, tasked with the Company’s westward expansion initiatives. “While we have seen significant growth in our business over the past few years, we are really excited to see what we can accomplish with the support of the broader VESTA enterprise,” said Sulton. “Our entire team is ready to hit the ground running to execute on our plan to expand our foothold in the Southwest and beyond.”

“The BD team has a proven track record of outstanding service and a strong market position in a rapidly growing region,” said Kinderhook Managing Director Rob Michalik, “BD Modular perfectly fits VESTA’s acquisition strategy of identifying regional leaders with quality fleets and deep relationships, and we are excited to welcome them into the VESTA family. We look forward to watching the BD and VESTA teams take a collaborative approach to a massive market opportunity.”

With this acquisition, VESTA continues its aggressive growth strategy by adding approximately 350 modular units and supplementing its new branch location in Dallas, TX. All BD employees will join the VESTA team. Customers of BD will experience a seamless transition to VESTA as the companies integrate over the coming weeks.

Kirkland & Ellis served as legal counsel to VESTA and Alvarez and Marsal handled financial diligence. Financing for the transaction was provided by a syndicate led by Flagstar Bank.

For additional information about this transaction, please contact: 
Robert Michalik
Managing Director
(212) 201-6789
[email protected]
 
Sam Keenan
Managing Director
(212) 201-6795
[email protected]