Service Truck Depot is Pleased to Announce a Transformative Investment

Fairfield, Texas – March 5, 2024 – Service Truck Depot, a leading provider of custom-built industrial service and mechanics trucks led by Danny Burnett and Stacy Dodd, is pleased to announce a transformative investment from Houston-based Rock Hill Capital and Salt Lake City-based Cynosure Group. This strategic partnership facilitates the buyout of previous partner Foundation Automotive and injects significant growth capital to drive Service Truck Depot into its next phase of growth.

“We are excited to partner with Rock Hill and Cynosure to continue our growth and further our product portfolio expansion to better serve our customers and reach new and growing end markets,” said Danny Burnett, co-founder of Service Truck Depot.

The investment marks a significant milestone in Service Truck Depot’s development, enabling the business to continue to build upon the company’s leading reputation in the industry for highly customized, high-quality work trucks along with the industry’s quickest lead times and outstanding customer service.

“We have exciting plans for Service Truck Depot and intend to take the same high-quality service experience our customers have come to expect and expand it into additional areas. Our customers have significant needs for equipment as they continue their own expansion plans and we are taking steps to meet their continued growth,” said Stacy Dodd.

Legal representation for the transaction was provided by Greenberg Traurig, LLP and FishmanHaygood LLP. Piper Sandler and Redcap&Truss served as the exclusive financial advisors to Rock Hill Capital and Service Truck Depot, respectively.

About Service Truck Depot

Service Truck Depot, based in Fairfield, TX, offers work-ready service and mechanics trucks, custom truck upfits and builds, and in-house designed work truck accessories such as the Big Slick lube skid. Service Truck Depot provides nationwide shipping, unparalleled lead times, and a continued focus on innovation to meet the evolving needs of its customers across various industries.

About The Cynosure Group

The Cynosure Group is a Salt Lake City based private equity firm that invests in founder- and management-owned middle market businesses. With a focus on financial services, business & industrial services and consumer services, Cynosure has managed more than $4.7 billion since its founding in 2013. Through its commitment to partnership and collaboration, Cynosure aims to empower “good people to do great things.” Learn more at cynosuregroup.com.

About Rock Hill Capital

Rock Hill Capital, founded in 2007, is a Houston-based lower middle market private equity firm with a focus on industrial product and service companies serving the infrastructure, energy, and waste industries. Rock Hill focuses on control investments to drive value through operational and financial control enhancements, utilizing modest leverage to allow management to concentrate on the execution of organic growth strategies. Learn more at rockhillcap.com.

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