Palm Beach Capital Announces Strategic Investment in MBI Companies
Deal News | Jan 10, 2025 | Palm Beach Capital
In a strategic move aimed at expanding its footprint in the architecture and design sector, Palm Beach Capital (PBC), through its Palm Beach Capital Fund VI, L.P., has made a significant investment in MBI Companies, Inc. Based in Knoxville, Tennessee, MBI Companies is a leader in providing architecture and engineering design services across various markets. This investment marks the birth of PBC's new investment platform, which focuses on constructing a nationwide architecture and design firm. The newfound partnership will see PBC funding MBI's acquisition strategy while also encouraging organic growth. MBI Companies retains its name, workforce, and leadership, continuing operations from its offices in Chattanooga and Knoxville. The collaboration aligns with PBC’s history of transforming and expanding firms in the architectural, engineering, and construction (AEC) sector. PBC’s Managing Partner, Nate Ward, highlighted the growth potential and the strategic importance of this new partnership. Legal advisory roles in the transaction were served by John G. Brock from Brock Shipe Klenk PLC for the seller, and Reggie Zachariah and Matt Whited from Greenberg Traurig, LLP for the buyer.
Sectors
- Private Equity
- Architecture and Engineering
- Investment and Mergers & Acquisitions
Geography
- United States – The investment is occurring within the United States, involving companies based in Florida and Tennessee.
Industry
- Private Equity – The article discusses an investment made by Palm Beach Capital, a private equity firm, in MBI Companies.
- Architecture and Engineering – MBI Companies operates within the architecture and engineering sector, which is the focal point of the platform.
- Investment and Mergers & Acquisitions – The article outlines an investment transaction which supports M&A growth strategies.
Financials
- – No specific financial figures such as deal price or fund size have been provided.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Palm Beach Capital | Investor | Company | A middle-market private equity firm investing through its sixth fund. |
| MBI Companies, Inc. | Target Company | Company | A leading architecture and engineering firm based in Knoxville, Tennessee. |
| Nate Ward | Managing Partner | Person | Co-Founder and Managing Partner at Palm Beach Capital overseeing the investment. |
| Bill Steverson | President | Person | President of MBI Companies who commented on the strategic partnership. |
| Eddie Jett | CEO | Person | CEO of MBI Companies providing insight into the company's growth outlook. |
| Dale Hersey | Operating Partner | Person | Operating Partner at Palm Beach Capital, focusing on strategic growth initiatives. |
| John G. Brock | Seller's Legal Advisor | Person | Served as legal counsel for the seller in the transaction. |
| Brock Shipe Klenk PLC | Legal Advisor | Company | Provided legal advisory services for the seller. |
| Greenberg Traurig, LLP | Buyer's Legal Advisor | Company | Provided legal advisory services for the buyer. |
| Reggie Zachariah | Buyer's Legal Advisor | Person | Provided legal counsel to the buyer along with Matt Whited. |
| Matt Whited | Buyer's Legal Advisor | Person | Provided legal counsel to the buyer along with Reggie Zachariah. |