NEW
YORK, July 1, 2024 /PRNewswire/ -- Good Springs
Capital LP ("Good Springs"), a private investment firm focused on
partnering with founders, families, and entrepreneurial management
teams in the industrial and services sectors, today announced that
entities managed by it have completed an investment in Kimbel
Mechanical Systems, Inc. ("Kimbel" or "the Company"), a leading
mechanical contractor. Headquartered in Fayetteville,
Arkansas, Kimbel has more than 650
employees and operates in 11 states throughout the South, Midwest,
and Mountain West regions of the United
States. Kimbel services a diverse customer base of leading
single-family homebuilders and multi-family residential project
developers and is one of the few businesses in its markets that
provides a tri-service offering that includes plumbing, HVAC, and
electrical installation services.
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."
Udi Toledano, Managing Partner of
Good Springs, added, "Kimbel's senior team, led by Rob, will
continue to manage and operate the Company, and the Kimbel family
will remain significant owners of the business alongside Good
Springs. We look forward to supporting the Kimbel team as it
continues to execute the strategy that has led to its past
successes and assisting the Company as it pursues a complementary
and focused acquisition plan."
White & Case LLP acted as legal counsel to Good
Springs. Kutak Rock LLP acted as legal counsel to Kimbel.
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 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.
CONTACT: Kristina Mayne,
kristina@maynestaymarketing.com
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SOURCE Good Springs Capital LP