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DFW Capital Partners (“DFW”) announced today that it has completed an investment in Kept Companies (“Kept” or the “Company”). Kept is the nation’s leading provider of mobile power washing, specialty cleaning, and maintenance services to commercial, industrial, transportation and government markets. Formerly known as Fleetwash, Kept leverages its best-in-class technology and industry-largest fleet of specialized vehicles and equipment to target recurring maintenance services that drive safety, operability, maintenance cost reductions, brand imaging and loss prevention value to its customers.

Headquartered in Fairfield, NJ, and with over 130 Company-owned and franchised locations nationwide, Kept has been in business for over 50 years, has completed over 120 tuck-in acquisitions, and is the dominant provider of critical asset washing and maintenance services in America. Beyond its original roots in truck and vehicle washing (still operating under the Fleetwash and Fleet Clean brands), the majority of Kept’s broad range of services extends to bridge, retail and distribution facilities, HVAC coils, solar panels, dumpsters and compactors, food refrigeration units, pallets, sidewalks and parking areas, shopping cart fleets, restaurant range hoods, windows and numerous other applications.

Notably, this is DFW’s third time investing in the Company, having held a minority position in the Company from 1999 to 2004, exiting to a strategically-backed financial sponsor. In 2014, DFW re-acquired the business in a management-led buyout, later selling to affiliates of ACON Investments, LLC (“ACON”) in 2018, with whom DFW partnered in this transaction. ACON will continue to retain a significant stake in the business. DFW’s latest investment comes from its new flagship fund, DFW Capital Partners VII, LP ($800MM of commitments), and will serve to provide partial liquidity to existing investors while creating additional funding liquidity in support of the Company’s aggressive and successful acquisition and greenfield expansion programs.

DFW’s Managing Partner, Keith Pennell, remarked: “We are thrilled to be partnering with the Kept team, yet again, and acquiring a significant position in a truly great American business. Fleetwash was always a portfolio standout at DFW, and we are continually impressed with the management team’s ability to adapt to market conditions and find creative ways to grow with new and existing customers through an ever-expanding menu of high quality and cost-effective solutions. The Company’s pivot to the Kept re-branding now provides greater focus on its high growth service lines which is expected to accelerate new customer acquisition, and provide greater cross-sell opportunities to existing clients. ACON has been an excellent partner for the business since the last sale, and we are looking forward to working closely with their team to continue to support organic growth, margin improvements, acquisitions and technology expansion to drive top competitive positioning in all of Kept’s markets.”

“We are pleased to welcome DFW as a partner to assist Kept in its next phase of growth. DFW’s third-time investment in the Company is a testament to the strength of the management team and the Company’s performance and prospects under our ownership. We are gratified to have helped build an industry-leading facility services platform that has grown organically and through the closing of over 23 acquisitions since our original purchase and look forward to working with DFW to accelerate Kept’s growth initiatives going forward,” said Mo Bawa, Partner at ACON Investments.
Kept received financial advisory services from Lincoln International and Houlihan Lokey and legal advisory services from Hogan Lovells.

About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. With over $2 billion under management, the firm concentrates on service companies, with an emphasis on outsourced business and industrial support services, and healthcare companies. DFW has established a 20+ year track record of success in both building leading companies and recognizing attractive returns for its investors. DFW is headquartered in Teaneck, New Jersey and maintains an office in Chevy Chase, Maryland. Additional information is available on our website at

About ACON Investments
With offices in Washington DC, Los Angeles, São Paulo, Bogotá and Mexico City, ACON is a middle market private equity investment firm that has managed over $7.0 billion of capital. Founded in 1996, ACON manages private equity funds with investments in the United States and Latin America. ACON pursues a theme-based investment strategy by focusing on industries or businesses at key inflection points in their development and pursues these opportunities in close partnership with established management teams. Among ACON’s investors are some of the largest institutional investors in private equity, including major public pension funds and sovereign wealth funds. Additional information about the firm is available on our website at

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