AMPAM Parks Mechanical, a portfolio company of Gemspring Capital, has acquired Seal Electric.
AMPAM is a full-service design-build contractor providing plumbing and HVAC services specifically for the multifamily residential construction market. The company works with general contractors and developers on large-scale multifamily housing projects across California.
AMPAM was founded in 1997 by Buddy Parks and John Parks and is headquartered near Los Angeles in Carson, California, and has more than 1,000 employees across multiple facilities throughout the state.
Seal Electric is a full-service electrical contractor that specializes in large-scale multifamily residential projects. The company provides electrical systems design and installation including full electrical wiring for new builds, project-specific system engineering, and ongoing on-site support for installations. Seal Electric was founded in 1996 by Frank Bongiovanni and is headquartered near San Diego in El Cajon, California, with operations extending into Arizona.
“Joining forces with AMPAM is an exciting opportunity for Seal Electric,” said Joe Bongiovanni, president of Seal Electric. “Their reputation for excellence and innovative approach to projects align perfectly with our strategic vision. Together, we will deliver unparalleled value through integrated solutions and streamlined project delivery.”
Seal Electric and AMPAM have collaborated on numerous past projects and their combination positions AMPAM as the first mechanical, electrical, and plumbing (MEP) provider in California focused exclusively on multifamily projects.
“We are delighted to welcome Seal Electric into the AMPAM family. Having worked with the Seal Electric team on numerous projects over the past 20 years, we know firsthand their commitment to quality and customer satisfaction,” said Buddy Parks and John Parks in a released statement. “By integrating their electrical expertise with our plumbing and HVAC services, we can now offer a comprehensive, fully integrated MEP solution that strengthens our position in the multifamily market.”
According to AMPAM, this transaction reflects a broader trend in the construction and building services industry toward integrated MEP contracting, which is valued by developers for simplifying project coordination and improving efficiency. Further, demand in the multifamily housing segment remains steady in regions like California and Arizona, driven by continued urban population growth and a pressing need for new residential units.
Gemspring invests in companies with revenues of up to $500 million and focuses on sectors including aerospace and defense, business and consumer services, financial and insurance services, industrial services, software and tech-enabled services, healthcare services, and specialty manufacturing.
In January 2023, Gemspring Capital closed two funds: Gemspring Capital Fund III LP, its third buyout fund, at $1.7 billion, and Gemspring Growth Solutions Fund I LP, its first non-control investment fund, at an oversubscribed $400 million. With these closings, Gemspring, based in Westport, Connecticut, now manages $3.4 billion in capital.
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LongueVue Capital has invested in Daedalus Industrial, a provider of building management and control systems.
“We are thrilled to partner with Austin Jones, Buff Williams, and the exceptional Daedalus team,” said Max Vorhoff, a partner at LongueVue. “In record time, Daedalus has distinguished itself as the trusted solutions provider in high-stakes sectors experiencing explosive growth, particularly within cutting-edge AI data center infrastructure. We look forward to supporting the team as they broaden their capabilities and service portfolio.”
“We were more than happy to support another innovative, high caliber transaction brought to us by the LongueVue team,” said Tim Clifford, the CEO of Abacus. “As in past transactions with them, our success was a function of our speed, structural flexibility, and certainty of close – key aspects of what we call our Total Partnership Approach.”
“Since inception in 2001, LVC has been making investments in mission critical industrial infrastructure companies,” said John McNamara, CEO and co-founder at LongueVue Capital. “Daedalus is a fine example of this, serving rapidly growing digital ecosystem buildouts in data center infrastructure and industrial automation.”
“LongueVue is always a strong partner and great to work with,” added Eric Petersen, a managing director at Abacus. Working on the transaction with Mr. Petersen was Senior Associate Greg Scanlon.
Soundcore Capital Partners has closed the sale of InfraStripe, a regional roadway safety contractor, to Frontline Road Safety, the largest provider of pavement marking services in the United States and a portfolio company of Bain Capital, which acquired the business just last month from The Sterling Group.
“Since the creation of InfraStripe in 2018, Soundcore worked in partnership with management to build a market leading company providing critically important roadway safety solutions,” said Jarrett Turner, the founder and managing partner at Soundcore. “This marks the sixth portfolio company exit for Soundcore in the last 21 months.”
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“InfraStripe is a highly complementary addition to Frontline, expanding our capabilities in traffic control and safety signage while strengthening our ability to serve customers in critical regional markets,” said Mitch Williams, the CEO of Frontline. “This partnership supports our strategy to build the nation’s leading road safety platform—with the scale, expertise, and resources to meet growing infrastructure needs. We’re excited to welcome the InfraStripe team to Frontline and to continue delivering best-in-class solutions that make roadways safer across the country. We are thrilled to partner with InfraStripe’s local leaders and teams.”
Paceline Equity Partners has made a $40 million preferred equity investment in Kassel Mechanical Holdings as part of a broader recapitalization of the company and to fund the company’s acquisition of Arrow Electric.
“We are thrilled to work collaboratively with Kassel founder, Tom Werner, and the rest of the experienced management team to support the growth of Kassel, a fast-growing MEPF company with an established track record and exciting growth opportunities,” said Sam Loughlin, the chief executive officer of Paceline. “Paceline has significant experience investing in building products and construction sectors, and we look forward to bringing our financial and operational expertise to help Kassel scale and accelerate its growth.”
“This transaction reflects Paceline’s ability to source differentiated opportunities and provide flexible capital solutions,” said Leigh Sansone, the chief investment officer of Paceline. “We are pleased to deliver a unique capital solution for Kassel to execute management’s growth strategy, which includes exciting organic and inorganic initiatives.”
SK Capital has closed the sale of Florachem, a maker of plant-based specialty ingredients, to Tradebe Life Sciences.
“It was a pleasure working with Jon Leonard and the Florachem team through this period of transformational growth,” said Jon Borell, a managing director of SK Capital. “SK Capital would like to congratulate the Florachem and Tradebe teams, as this transaction represents a positive outcome for all stakeholders and an opportunity for continued growth under Tradebe’s stewardship.”
Ballymore Safety Products, a portfolio company of One Equity Partners, has acquired Valley Craft Industries.
Brynwood Partners has agreed to sell Harvest Hill Beverage Company to Castillo Hermanos. The sale of Harvest Hill is the largest exit in Brynwood’s 40-year history. Centerview Capital co-invested in this transaction alongside Castillo Hermanos.
“We are delighted to announce the sale of Harvest Hill, though it is a bittersweet moment as it is sad to say goodbye to a company and brands that have meant so much to Brynwood Partners and me personally,” said Henk Hartong III, the chairman and CEO of Brynwood Partners.
“We are grateful to Castillo Hermanos and know that they will be great stewards of the business,” said Ian MacTaggart, the vice chairman of Brynwood Partners. “We have had a long relationship with Centerview Capital and thank Jim Kilts and his team for their work with Castillo Hermanos to bring this transaction together.”
Brynwood Partners is currently investing out of Brynwood Partners IX LP, a $750 million fund closed in 2023. The firm targets companies with minimum revenues of $50 million and EBITDA of at least $5 million.
Soundcore Capital Partners has formed TreeServe LLC as a new platform in the tree care services sector and has closed its first acquisitions with the buys of Princeton Tree Care and Clauser Tree Care.
“Secular trends supporting investments in exterior home care will continue to drive customer growth and spend and provide an opportunity to expand TreeServe’s service offering,” said Jeff Long, a partner at Soundcore. “Our investment and additional resources will allow Princeton and Clauser to better capture this market opportunity, distinctively serve their customer needs, and provide professional growth for their employees.”
Reichmann Segal Capital Partners has acquired OES, a company that designs and manufactures LED video scoreboards and provides electronic manufacturing and wire harness design and assembly services. OES was acquired from Ardenton Capital which purchased the company in October 2017.
“OES is a spectacular company with an exceptional senior leadership team,” said Charles Reichmann, a co-founder and managing partner at Reichmann Segal. “The scoreboard business is what drew us in, but the team Jeff has assembled and their technical expertise is truly what makes OES special. We are excited with this new platform and we plan to invest heavily in growth in the electronics manufacturing services and technology space.”
“Charles and I are incredibly excited about our investment in OES and in partnering with Jeff and the entire team. Together with Athletica, OES builds on our leadership position in the sports infrastructure market. We expect significant cross-collaboration between the two franchises, each the choice of the pros. Further, we see tremendous promise and growth potential with our entry into the EMS and custom technology markets. The future is bright,” said Mr. Segal.
May River Capital has formed a new industrial flow control platform, Tusk Industrial, and has closed its first acquisition with the $110 million buy of the fluid handling business (Global Pump Solutions) of publicly traded CECO Environmental.
“Tusk Industrial is a standout business with significant growth potential, and we’re excited to partner with management to drive its continued success,” said Pat St. John, a managing director at May River. “With our deep expertise in building businesses within the flow control sector, we are committed to investing in new products, expanding into new markets, and pursuing strategic acquisitions—all with the goal of strengthening Tusk Industrial’s foundation and, most importantly, delivering greater value to its customer base.”
“Partnering with May River marks an exciting milestone for our company,” said Mr. Cheung. “This partnership unlocks incredible opportunities to supercharge our growth, expand our capabilities, and deliver even greater value to our customers. It’s an exciting time for our employees, customers, and partners as we take Tusk Industrial to new heights.”
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