GOOD SPRINGS CAPITAL ANNOUNCES INVESTMENT IN TECTONIC ENGINEERING

News provided by

Oct 30, 2024, 06:30 ET

NEW YORK, Oct. 30, 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 Good Springs have completed an investment in Tectonic Engineering Consultants, Geologists & Land Surveyors, D.P.C. and its affiliates ("Tectonic" or "the Company").

Headquartered in Mountainville, New York, Tectonic is a leading multi-disciplined engineering firm focused on the transportation, telecommunications, energy, and water infrastructure end markets. The Company's comprehensive offerings, which include engineering and design, environmental and regulatory permitting, construction management, special inspections and materials testing, and surveying, allow it to support public and private sector clients throughout the project lifecycle. With multiple offices and two in-house material testing laboratories, Tectonic employs over 500 professionals comprised of civil, environmental, geotechnical, and structural engineers as well as construction managers, inspectors, geologists, planners, scientists, and surveyors.

David Van Geyzel, Managing Partner of Good Springs, stated, "Over the past 38 years, under the leadership of Donald Benvie and Richard Kummerle, Tectonic has grown its business and reputation by being responsive to clients and providing them with high-quality engineering services and advice. We believe the Company has strong business momentum and numerous actionable opportunities to pursue in its attractive end markets, many of which are being driven by the need to repair and replace aging infrastructure. We are excited to assist the Company as it embarks on its next chapter of expansion and look forward to partnering with the entire Tectonic team."

"This transaction is an important milestone in Tectonic's history," commented Donald Benvie, Tectonic's co-founder and CEO. "Richard and I would like to thank all of our employees for their dedication and efforts in building the Company to where it is today. We are proud of how far Tectonic has come and are excited by the opportunities this new partnership with Good Springs will bring. The Good Springs team's approach to business, their experience investing in and scaling entrepreneurial companies such as ours, and their capacity for making follow-on capital investments will unleash our ability to grow beyond the markets and geographies we currently serve, all while maintaining the client-focused approach that has led to our success."

Udi Toledano, Managing Partner of Good Springs, added, "Tectonic's management team will continue to operate the Company day-to-day and will remain significant owners of the business alongside Good Springs. We welcome Tectonic to the Good Springs family and look forward to supporting the Company's team as it executes its business plan and pursues accelerated growth through strategic add-on acquisitions."

Harris Williams LLC served as financial advisor and Ropes & Gray LLP acted as legal counsel to Good Springs.

The Environmental Financial Consulting Group, LLC (EFCG) acted as financial advisor and Troutman Pepper Hamilton Sanders LLP acted as legal counsel to Tectonic.

About Tectonic Engineering

Tectonic Engineering Consultants, Geologists & Land Surveyors, D.P.C. and its affiliates is a multi-disciplined engineering firm established in 1986 with a staff of over 500 professionals. The firm has earned a reputation for providing solutions that are smart and practical, sensitive to budget and schedule, and that look toward the future. Tectonic's professional staff are united by a passion for using engineering problem solving to create significant improvements to our planet and its built environment, with a focus on the most critical and complex infrastructure projects across the federal, transportation, telecommunications, power, and water resources end-markets. The firm's experience includes the rebuilding of the World Trade Center site, the replacement of the Mario M. Cuomo Bridge (Tappan Zee Bridge), and the expansion of MTA's East Side Access (Grand Central Madison), along with advising Fortune 500 companies for nationwide telecommunications deployments, and assisting a variety of clients in large-scale disaster recovery. Tectonic has been honored as one of the Engineering News-Record's Top 500 Design Firms since 2001, garnered numerous Engineering Excellence Awards from the American Council of Engineering Companies (ACEC), and ranked Tectonic #92 on the Zweig Letter 2024 Hot Firm list of Architectural and Engineering Firms in the U.S. and Canada. For additional information about Tectonic, please visit www.tectonicengineering.com.

About Good Springs Capital

Good Springs, based in New York, NY, is a private investment firm focused on making 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 through the implementation of the Good Springs Growth System. For additional information about Good Springs, please visit www.goodspringscap.com.

Media Contact:
Kristina Mayne
[email protected]

SOURCE Good Springs Capital LP