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Columbia, Md.-based TEC Services, which provides janitorial and sanitation services to grocery stores and food distributors, has taken a strategic investment from Braemont Capital, which has offices in Dallas, Texas, and New York. Financial terms were not disclosed.
The so-called JanSan — janitorial and sanitation — services provider has been a family-owned business since 1965. It helps food businesses maintain safe, clean and compliant environments critical to this sector. Until 2024, it was led by CEO Rip Collins, a Harvard Business School alumnus who took the helm in 2008.
“This partnership with Braemont will unlock new growth opportunities for our business, employees and clients, while staying true to the values that have guided us over our tremendous 59-year history,” said TEC Services CEO Jared Agan, who took the helm this year after being president for seven years.
TEC’s partnership with Braemont marks a “transformative” moment as the company accelerates its strategic growth plans by leveraging Braemont’s extensive network and deep expertise in scaling service-based businesses, the companies said.
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“TEC embodies the qualities we look for in our partner companies — an exceptional management team, a strong commitment to quality and a customer-first ethos,” said Robert Covington, Braemont’s founder and managing partner.
Braemont’s investment will help TEC explore new opportunities for expansion, both organically and through strategic acquisitions, the investment firm focused on partnering with founder-run businesses said. Its portfolio includes Loenbro, Incline, RedTeam and Vixxo. Prior to founding Braemont, Covington was the co-managing partner of RedBird Capital, where he launched and oversaw the Dallas office.
BlackArch Partners served as financial advisor to TEC. Duane Morris served as legal counsel to TEC. Kirkland & Ellis LLP served as legal counsel to Braemont.