SAN FRANCISCO, CA, October 31, 2023 – Percheron Capital (“Percheron”), a private equity firm focused on partnering with high-quality essential services businesses, today announced the acquisition of SafeBasements, a leading foundation repair and basement waterproofing services company based in Minnesota. SafeBasements is the first partnership in Percheron’s foundation repair and basement waterproofing services platform, which is well-positioned for accelerated growth in an attractive industry that is large, fragmented and highly resilient due to its non-discretionary service profile. In conjunction with the partnership, Percheron also announced that renowned industry veteran Deb Dulsky has joined SafeBasements to lead the platform as Chief Executive Officer.
Founded in 1992 by Jesse and Lori Trebil, SafeBasements’ high standard of service and strong employee culture have earned the commitment of loyal customers and long-tenured team members across the Midwest. As an innovator in the category, SafeBasements developed a unique, vertically integrated operating model that enhances the effectiveness of its services through a suite of patented, high-quality and easier-to-use products and systems.
“We are incredibly proud of the business we have built, our devoted employees and the tens of thousands of homeowners who have trusted us over the years for their foundation repair and waterproofing needs,” said Jesse and Lori Trebil, Co-Founders of SafeBasements. “Our goal was to find a partner that would build on SafeBasements’ legacy, support our employees and maintain industry-leading service standards. It was immediately clear that Percheron was fully aligned with our values and vision.”
Deb Dulsky joins SafeBasements as Chief Executive Officer with over 20 years of leadership experience and an exceptional track record of value creation in residential services. She previously spent 12 years at HomeServe, one of the world’s largest providers of home repair services, and most recently led their North American HVAC business to more than triple revenue ahead of HomeServe’s successful sale to private equity.
“I am excited to work in partnership with Percheron and the SafeBasements teams to build the premier foundation repair and basement waterproofing services business in the country,” said Ms. Dulsky. “We are committed to establishing SafeBasements as the employer of choice, investing in our hardworking team members and expanding through new partnerships with like-minded operators who are also committed to delivering best-in-class services to homeowners.”
“The SafeBasements team has built an impressive business as demonstrated by their consistent organic growth, dedicated employee base and differentiated operating model,” said Chris Lawler, Co-Founder and Managing Partner at Percheron. “We look forward to partnering with Deb and combining her impressive track record of scaling home services businesses with Percheron's essential services expertise and deep operational capabilities to support SafeBasements’ next phase of growth.”
About Percheron Capital
Percheron Capital is a private equity firm focused on partnering with exceptional teams to build market-leading essential services businesses. The firm’s purpose is to support high-quality businesses to accelerate growth and enhance long-term value. Percheron has over $2.5 billion in regulatory assets under management and focuses on investing in strong services businesses in resilient end markets. For more information, please visit www.percheron.com.
SafeBasements is a leading foundation repair and basement waterproofing services business, providing essential services to homeowners across the Midwest. The company’s mission is to provide superior customer service, outstanding employee support and the highest quality foundation repair and basement waterproofing services and products. For more information, please visit www.safebasements.com.
For foundation repair and basement waterproofing services business leaders interested in partnership opportunities, please contact Priya Saraswati.
Priya Saraswati, Head of Business Development
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