Good Springs Capital LP (“Good Springs”), a leading private investment firm, today announced the acquisition of Kimbel Mechanical Systems, Inc. (“Kimbel”), a leading mechanical contractor headquartered in Fayetteville, Arkansas. The acquisition was facilitated by Valufinder Group, Inc. (“Valufinder”), a prominent M&A advisory firm specializing in buy-side advisory services.
The team at Good Springs has a proven track record of investing in and growing companies in the industrial and services sector. Kimbel, founded in 1984, is known for being a leading national mechanical contractor that specializes in servicing residential and commercial builders with plumbing, HVAC, and electrical installation services. Kimbel has over 650 employees and operates in 11 states in the South, Midwest, and Mountain West regions and services a diverse base of leading single-family homebuilders and multi-family residential project developers.
Key Highlights of the Acquisition:
- Strategic Fit: The acquisition of Kimbel aligns with Good Springs’s strategy to partner with strong management teams in the essential services sector and assist the Kimbel team in pursuing a complementary and focused acquisition plan.
- Growth Potential: Kimbel has demonstrated strong growth and profitability, with significant opportunities for expansion in new geographies and related service offerings.
- Management Team: Kimbel’s experienced management team will remain in place and continue to lead the company, ensuring continuity and driving further growth under the ownership of Good Springs.
Advisory Support:
Valufinder provided comprehensive advisory services throughout the acquisition process, including identifying the target, facilitating the introduction and subsequent requests for information, Teams meetings and conference calls throughout the process. Valufinder’s expertise in deal origination and facilitation as well as the mechanical services sector, in particular, was instrumental in facilitating a successful acquisition.
Quotes:
David Van Geyzel, Managing Partner of Good Springs, stated, “We are excited to partner with Rob Kimbel, David Kimbel, and their dedicated team. Kimbel has an impressive history of organic growth and is one of the largest companies in its field. The Company exemplifies what Good Springs seeks in potential investments: an established business led by an experienced, driven, and talented management team operating in a large, essential market. We believe the Company has numerous opportunities to grow through existing initiatives as well as the application of the Good Springs Growth System.”
“I would like to thank all the Kimbel employees for their hard work and dedication in helping build the Company,” said Rob Kimbel, Chief Executive Officer of the Company. “Kimbel has come a long way since my father, Miles, founded the business in 1984, and we are excited about partnering with the team at Good Springs to pursue our next stage of growth and expansion. Their experience, values, capital, and model of working with entrepreneurial companies such as ours should allow us to pursue our objectives of maintaining our unique culture, providing high quality service to our customers, accelerating growth, and expanding future opportunities for our team.”
Quote from Valufinder
“We are excited to once again to work with the team at Good Springs Capital in closing a new platform acquisition of scale,” said Brian Levine, Senior Vice President at Valufinder. “Our ability to identify proprietary deals and our industry knowledge that resonates with owners, allowed us to help Good Springs in getting the deal over the finish line.”
About Good Springs Capital: Good Springs, based in New York, NY, is a private investment firm focused on making majority control investments in middle-market companies run by founders, families, and entrepreneurial management teams in the industrial and services sectors. Good Springs is honored to have The Chickasaw Nation as a strategic partner. Good Springs approaches opportunities with a long-term mindset and strives to build strong partnerships with talented management teams. It supports successful companies in pursuing their next chapter of growth objectives through the implementation of the Good Springs Growth System. For additional information about Good Springs, please visit www.goodspringscap.com.
About Kimbel Mechanical Systems: Founded in 1984 in Ohio and re-established in Northwest Arkansas in 1993, Kimbel is a leading national mechanical contractor that specializes in servicing residential and commercial builders with plumbing, HVAC, and electrical needs. Kimbel focuses on single-family projects such as mid- to large-scale developments and multi-family projects such as military housing, condominiums, hotels, tax credit housing, apartments, student housing, hospitality, and assisted living. With a team of over 650 employees, including over 400 tradespeople, Kimbel has grown to be a premier mechanical contractor in its markets. For more information about Kimbel, please visit www.kimbel.com.
About Valufinder Group: Valufinder Group, based in New York, NY, is a leading M&A advisory firm with extensive experience in a vast number of industries. The firm provides buy-side advisory services. For more information, please visit www.valufindergroup.com.
Contact:
Brian Levine
Senior Vice President
Valufinder Group, Inc.
(212) 243-1133 ext. 257
blevine@valufindergroup.com