|HOUSTON AND DENVER, February 21, 2022 - D&H United Fueling Solutions, the leading provider of petroleum fueling and EV charging system equipment, installation, and service in the Southwest, announced today that it has acquired Kubat Equipment and Service Co. of Denver, CO. Kubat is a fullservice turnkey petroleum industry supplier covering the state of Colorado and parts of Wyoming, Utah and Nebraska. The combined companies will have approximately 500 team members, including 350 field technicians with 15 branches operating across the Sun Belt and Mountain West. The acquisition of Kubat further diversifies the company’s customer base, provides expansion within a key strategic growth market, and broadens the Company’s service and product line. Craig Hoyer, President of Kubat will become VP, Colorado and Mountain West Operations for D&H United.
Bo Sasnett, CEO of D&H United, stated, “We are extremely excited to welcome Craig and the Kubat team to the D&H United family. We have a deep respect for their team and the 70+ year history and reputation in our industry. This is a strategic acquisition that allows us to increase our recurring revenue across a similar customer base and gain significant market share in a growing region within our country. I have had the pleasure of knowing both Craig and his father Gene for 30+ years. Our companies have a similar family-oriented culture with a focus on providing excellent service to our customers. Together, we will provide greater scale, resources and coverage for our team, customers and vendor partners.”
Craig Hoyer, President of Kubat added, “We are extremely pleased to join the D&H United team. I could not think of a better fit for our company. My family has known Bo and the D&H team for decades and we couldn’t be happier to join them as we continue to grow. D&H United has similar values and culture and is also a perfect match with our geographic coverage areas. This combination provides us with even greater strength in our markets. Not only will we have resources to help us continue our growth, we will also have the largest coverage area in the Southwest for both our team and customers.”
In February 2020, KLH Capital partnered with D&H United’s management team to recapitalize and continue the growth path of the Company. “Kubat is a natural strategic fit for D&H United. The acquisition adds both new customers and additional locations of existing customers as well as expands the Company’s product offering into recurring carwash parts and supplies. We couldn’t be happier for Bo and our team as we continue to build the expanding footprint of the company,” said James Darnell, Partner at KLH Capital.
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About D&H United Fueling Solutions
D&H United Fueling Solutions is the leading supplier of both petroleum fueling and EV charging system equipment, installation, and service in the Southwest. D&H United is an authorized distributor and service provider for Gilbarco Veeder-Root as well as other major equipment brands. The company has 15 branches and 500+ employees operating throughout the Southwest. D&H United also provides compliance testing for tanks and lines in 25 states through its Valley Tank Testing subsidiary.
ABOUT KUBAT EQUIPMENT & SERVICE CO.
Based in Denver, Colorado, Kubat is a turnkey provider of service, equipment, and installation of retail fueling systems, automotive and carwash equipment to a diversified customer base, with an emphasis on complete life cycle support. Kubat is differentiated from other providers through unique value-added service offerings including (i) diversified capabilities in the carwash industry vertical and (ii) turnkey support to the automotive end-market. With 84 employees across its three locations, Kubat has established itself as an industry leader with a respected reputation since the Company’s founding in 1949.
ABOUT KLH CAPITAL
Founded in 2005, KLH Capital is a private equity firm serving family- and founder-owned, lower middlemarket companies in the specialty services, value-added distribution, and niche manufacturing industries. The firm makes majority and minority equity investments in U.S.-based businesses to support the company’s growth plans, provide ownership opportunities for key managers, and allow owners to harvest the value in their businesses.
Our commitment goes beyond financial support as we believe in establishing a collaborative team of peers, all of whom have a hand in the company’s progress. When we combine management’s industry and operational expertise with our own, the company’s full potential is unlocked and value is created.
Since its founding, KLH Capital has raised $520 million. For more on our investment approach, please visit our website: www.klhcapital.com.