EO Advises Diesel Power & Machine on its Sale to 9.29 Holdings
EO Advisors, LLC (“EO”) is pleased to announce that it served as exclusive financial advisor to TTP Holdings, Inc., doing business as Diesel Power & Machine (“Diesel Power”), in its recently completed sale to 9.29 Holdings (“9.29”). The acquisition will provide the resources necessary to accelerate Diesel Power’s growth into the leading provider of diesel engine remanufacturing services in North America.
“EO was quick to recognize the uniqueness of Diesel Power & Machine’s remanufacturing platform developed by Don and Doug Dickerhoff over the last forty-five years,” said Alex Shortle, Partner at EO. “The challenge was in conveying the uniqueness of this opportunity to the market in the midst of broader industry-specific tailwinds all the while ensuring Doug and Don had a smooth transition into eventual retirement. Ultimately, we found an excellent, well-resourced partner in 9.29 to build on the Dickerhoff legacy.”
Based in Pierceton, Indiana, Diesel Power is a provider of remanufactured heavy-duty diesel engines and related parts. The Company maintains one of the largest and most advanced remanufacturing facilities in the country, including, unique to the market, comprehensive engine block machining capabilities. The Company specializes in 200–800 horsepower engines from Caterpillar, Cummins, Detroit Diesel, and John Deere, as well as transmissions and differentials from Rockwell, Eaton, Spicer, and Fuller. Diesel has been servicing the trucking, agricultural, industrial, and construction industries for over 45 years, providing immediate exchange units and custom rebuilds with what management believes are the fastest turnaround times in the industry.
“We were very satisfied with EO’s professionalism and capability in walking us through multiple buyer offers, the (at times) emotional moments, the total interference they perform in crafting the “art of the deal”…left us to maintain focus on our day-to-day business. We would like to thank the EO Team for getting us across the finish line and even after the sale for being so responsive with some maintenance requests,” said Doug Dickerhoff, co-owner of Diesel Power.
Alongside EO in advising Diesel Power was the mergers and acquisitions team at Barrett McNagny, LLP, led by Partners John Barce and Justin Molitoris.
About EO Advisors
EO Advisors is a boutique investment banking firm specializing in mergers and acquisitions, capital raising, and strategic advisory assignments for middle-market and emerging growth companies.
EO Advisors was established in 2021 to deliver the sophistication and perspective of a full-service investment bank to traditionally underserved clients. Our connected and experienced advisors uncover unique business stories, inform strategic direction, and maximize shareholder value by positioning our clients in a creative and defensible manner, making EO Advisors the trusted partner for discerning owners and entrepreneurs. For more information, please visit: www.eoadv.com.