Done Right Building Services (DRB Facility Services) began as a career change. President and CEO Anthony Samuels worked in computer-aided drafting before shifting to become a business owner and start a commercial cleaning business.
Thirty years later, Samuels is leading DRB Facility Services, one of the largest facility services firms and businesses owned by a person of color in Massachusetts, through an exciting stage of growth. The company's 618 employees provide comprehensive commercial facilities cleaning services, metal and stone restoration and maintenance services, and sustainable cleaning practices to major public transportation systems, universities, retailers and corporations across New England. With approximately $25 million in annual revenue, DRB Facility Services’ growth strategy focuses on developing contracts, expanding its offerings and managing acquisitions. Samuels sought a bank he could turn too and rely upon to understand his vision and help support the company’s growth.
Finding a Bank That Puts Relationships First
DRB Facility Services operates in a sector comprised of many small businesses and few larger companies of its scale and size. Samuels knew both organic growth to expand services and inorganic growth through acquisitions were important to business growth. But success meant working with a commercial lending team to provide financing, and a personal relationship with his banker was essential. DRB Facility Services sought a team that could understand its business and develop a banking relationship based on trust.
Anthony Samuels is President and CEO of DRB Facility Services.
“As the business grew, I spoke to our CFO about our needs. We wanted a banker we could talk to regularly and offer us ideas, alternatives and solutions for our vision of growth,” says Samuels. He took an innovative approach, creating a package that outlined the needs and expectations from potential banks. Ultimately, he found many banks were either too large to provide that kind of banking relationship or too small to provide the required support. That’s where Eastern Bank stood out. Samuels already had a relationship with Executive Vice President and Senior Commercial Banking Officer Greg Buscone from interacting on local community boards.
“I had the opportunity to see Greg monthly, so we got to talk a lot,” says Samuels. “As we built a relationship, I felt comfortable he was someone we could talk to about the business and would understand what we were trying to do.” After speaking about some of the banking challenges the company was facing and meeting with the Commercial Banking Team, Samuels saw Eastern Bank as a great fit.
“What Eastern Bank offered was taking the time to really get to know DRB Facility Services. It was an approach I appreciate and value.”
Eastern is providing $3 million in financing, which includes a revolving line of credit for working capital, an equipment line of credit, and financing for acquisitions as DRB Facility Services seeks to expand its role in the industry.
Understanding Unique Business Challenges
Working with the Commercial Lending Team wasn't Samuels' first experience with Eastern Bank. DRB Facility Services provides cleaning services to Eastern Bank and Eastern Insurance Group LLC, a working relationship that began in 2013. In addition, DRB Facility Services participated in the first cohort of the Foundation for Business Equity’s (FBE) Business Equity Initiative (BEI), which Eastern launched to support the growth of businesses owned by people of color.
Acting on a strategic advisor's advice, Samuels hired a CFO with industry, operational and financial experience. With a new CFO on board, Samuels could focus on what he does best: building relationships and getting DRB Facility Services in front of new business opportunities. DRB Facility Services also shifted its strategic growth expansion plans, which since 2019 have resulted in revenue growth, a new marketing and rebranding approach, and increasing its workforce.
“Bringing a CFO on has allowed me to do the things I needed to grow the business,” he says. “That wouldn’t have happened if I hadn't gone through the BEI program.”
As a 100% minority-owned company, Samuels has faced some unique business challenges. But he also feels the BEI program has made a tremendous difference. “I’m passionate about showing companies that we perform just as well as non-diverse companies,” Samuels says. “Knowing we can perform at a high level and having financial backing through Eastern Bank give us a little more credibility to find and take on larger contracts.”
Building a Long-Term Strategy for Growth
Samuels knew a bank would play a critical role in the future growth of his business—ideally as a trusted resource that understood the company's short- and long-term needs. For Samuels, this comes in the form of three services Eastern Bank offers.
“We're growing, so we need capital to grow. As we take on larger accounts, we need the funds to cover payroll, the cash flow to start up larger jobs and money for equipment,” he says. “This requires a line of credit, an equipment financing line and a lending line for acquisitions. Eastern Bank provides these three lines and it's very helpful for our growth.”
Within professional facilities services companies, acquisitions are a big part of a growth strategy. For example, DRB Facility Services recently acquired a professional metal and stone refinishing service, to complement its existing portfolio and offer comprehensive, one-stop services to customers. Financing from Eastern Bank is helping DRB Facility Services continue to expand in new directions like this example and beyond. And the high regard DRB Facility Services has within the industry means companies looking to sell approach Samuels more often. When that happens, he knows he can sit down with Eastern Bank's Commercial Lending Team to run the numbers, see how the potential deal fits with the long-term growth strategy and determine the best financing options.
“Anthony is achieving his vision for DRB Facility Services through deliberate planning and an effective business strategy, and it’s a pleasure to work with him and his team as they seek to acquire other businesses, purchase new equipment, or simply to have more options for managing the day-to-day finances of his business and reaching their goals,” said Jim Murphy, Senior Vice President, Commercial Banking Team Leader and DRB Facility Services Relationship Manager.
For Samuels and DRB Facility Services, working with Eastern Bank means having a team that knows the company and its capabilities and can support its goals with intent and understanding. Building a solid banking relationship has helped position DRB Facility Services for continued growth in the future and to bring the service it has shown clients for the past 30 years to a larger scale.
Eastern Bank has a range of financing options, from lines of credit to business acquisition loans, to help your company secure working capital, improve cash flow and build a growth strategy. Learn more about how Eastern Bank can support your commercial banking needs.