Grizzly MEP Takes Off with Stiles Partnership
Deal News | May 20, 2025 | Croft & Bender LP
Garnett Station Partners, a principal investment firm with assets exceeding $3.5 billion, has announced the establishment of Grizzly MEP, a commercial mechanical, electrical, and plumbing services platform. Grizzly MEP aims to foster growth in the estimated $500 billion Commercial MEP market, known for its fragmentation and need for sustainable solutions. Partnering with seasoned professional Kelly Romano, who brings over 30 years of experience, the firm has also formed an inaugural partnership with Stiles Heating & Cooling. This collaboration is set to leverage Stiles’ existing strong market reputation to expand Grizzly MEP’s reach. Financial advisory services were provided by Croft and Bender to Stiles in this partnership. This launch signifies Garnett Station's commitment to enhancing the value of the Commercial MEP sector through strategic partnerships and investments.
Sectors
- Commercial Mechanical, Electrical, and Plumbing (MEP) Services
- Investment Management
Geography
- United States – The article mentions the launch of Grizzly MEP in the United States, with initial partnerships in Georgia and South Carolina.
- Georgia and South Carolina – Stiles Heating & Cooling, a partner in the Grizzly MEP launch, operates across these two states, highlighting the geographical scope of the initial partnership.
Industry
- Commercial Mechanical, Electrical, and Plumbing (MEP) Services – The article discusses the launch of Grizzly MEP, a new platform focused on partnering with service providers in the highly fragmented Commercial MEP market.
- Investment Management – Garnett Station Partners, an investment firm, is launching a new platform, showcasing activities typical of private equity and investment management.
Financials
- $3.5 billion – The amount of assets managed by Garnett Station Partners.
- $500 billion – The estimated market size of the Commercial MEP sector.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Garnett Station Partners | Bidding Company | Company | A principal investment firm managing over $3.5 billion in assets, launching Grizzly MEP. |
| Grizzly MEP | Target Company | Company | A newly formed Commercial MEP services platform by Garnett Station Partners. |
| Stiles Heating & Cooling | Target Company | Company | A leading provider of HVAC, building controls, and plumbing services across Georgia and South Carolina, partnering with Grizzly MEP. |
| Kelly Romano | Chairman of the Board | Person | An industry veteran with over 30 years of experience in the HVAC and building services space, leading Grizzly MEP. |
| Croft and Bender LP | Financial Advisor | Company | Served as financial advisor to Stiles Heating & Cooling. |