ISLIP, N.Y.--(EON: Enhanced Online News)--Jack O'Hayre, CEO of Powerhouse Holding Corp. ("Powerhouse"), in conjunction with its capital partner, Dubin Clark & Company, Inc., announced today the recapitalization of Supreme-Metro Corporation ("Supreme-Metro") on February 3, 2017. Jason Ciavarro will remain active as Supreme-Metro's President. The terms of the deal were not disclosed.
“We are truly excited to be working with Jay and his team of top-notch professionals!”
Founded in 1988 and headquartered in South Plainfield, New Jersey, Supreme-Metro offers full-service asphalt, concrete, and drainage services to engineers, property managers, management companies, building owners, and developers of office parks, roadways, retail centers, and parking lots throughout New Jersey. Supreme-Metro is the market leader in New Jersey and extends services into adjacent metro areas such as Pennsylvania and New York.
"We are truly excited to be working with Jay and his team of top-notch professionals!" said Jack O'Hayre, CEO of Powerhouse. "Through this partnership, we will be able to continue our growth into New Jersey, as we position ourselves for future expansion."
"I'm excited that we are expanding our company in providing additional locations and services beyond New Jersey," said Jason Ciavarro, President of Supreme-Metro. "This strategic alliance with Powerhouse builds upon both companies' core foundations, setting the stage for many years of growth and increased customer service throughout the Northeast."
"We look forward to partnering with Jay and his team at Supreme-Metro," said Mike Hompesch, Partner of Dubin Clark. "The combined business is well-positioned to achieve substantial growth by providing high-quality services within an expanded geographic footprint."
Powerhouse Holding Corp., founded in 1963 and headquartered in Islip, New York, is comprised of two businesses: Powerhouse Maintenance, LLC (comprised of Powerhouse Paving, PAM Sweeping, and Orange Industries) and Supreme-Metro, LLC, and specializes in the maintenance and repair of commercial parking lots and related areas for property managers/owners of predominantly commercial and industrial facilities, apartment complexes, strip malls and retail shopping centers.
Dubin Clark & Company, Inc. is a private investment firm that has a 33-year history of investing in middle-market buyouts and building businesses in partnership with the managements of their portfolio companies and a national reputation for helping successful middle-market companies reach new levels of sales and earnings.