WESTLAKE, Texas--(BUSINESS WIRE)--Godspeed Capital Management LP (“Godspeed Capital”), a lower middle-market Defense & Government services, solutions, and technology focused private equity firm, today announced the successful acquisition of Image Engineering Group (“IEG” or the “Company”), a Texas-based Mechanical, Electrical, and Plumbing (“MEP”) design firm focused on sustainability in the education, commercial, and retail markets. The financial terms of the transaction were not disclosed.
Founded in 1991 in Westlake, Texas, IEG is a leading provider of innovative MEP design and engineering solutions. Driven by a mission to deliver sustainable, cost-effective buildings and deep expertise operating within the education, commercial, and retail architecture markets, IEG’s seasoned management team boasts a more than 30-year track record of providing environmentally friendly and cost-effective MEP solutions to education, commercial, and retail facilities across Texas and nationally.
IEG will join Rachlin Partners and TSK Architects as part of Huckabee Architects, Inc. (“Huckabee”), Godspeed Capital’s Architectural, Engineering, and Consulting (“AEC”) services and solutions growth platform focused on education and government markets. Continuing Godspeed’s ongoing strategy to further grow and diversify Huckabee’s capabilities, IEG will add technology solutions, geographic and market reach, and customer relationships to the platform. Under the Huckabee umbrella, IEG will integrate its MEP engineering capabilities to enhance the platform’s design innovation and expand the continuum of capabilities offered to Huckabee’s growing customer base.
Following the transaction, IEG will continue to be led by Founder, Don Penn, and President, Jonathan Penn.
Chris Huckabee, Chief Executive Officer of Huckabee, said “We are thrilled to announce the addition of IEG to our platform, whose highly technical MEP engineering capabilities are a key area of expertise for Huckabee as we work to become a diversified, leading national AEC services platform. IEG is a recognized leader within the industry and has gained a tremendous amount of respect for their innovative engineering solutions and the premier client service that IEG’s team brings to each of its projects. We look forward to leveraging the firm’s capabilities to provide Huckabee’s clients a fully comprehensive offering of AEC services and solutions.”
Don Penn, Founder of Image Engineering Group, said, “We are excited to join forces with Huckabee and add new design and engineering innovations, scale, and diversity to the platform. Not only will Huckabee’s expansive AEC offerings enable us to expand our network into the growing K-12 and Higher Education sectors across the Southwestern US; the platform will also provide us with a substantial inflow of work to backfill our business development pipeline.”
About Image Engineering Group
Image Engineering Group is a Mechanical, Electrical, and Plumbing design firm located in the Dallas-Fort Worth, Texas area founded by Don Penn in 1991. IEG has dedicated its efforts to educating school districts and other specialty clients in ways to become more environmentally friendly and cost effective in their Mechanical, Electrical and Plumbing design. IEG’s over 30 engineers and designers, by merging geothermal HVAC with solar and wind solutions, have created some of the most energy efficient facilities in the country. For more information, please visit https://www.iegltd.com/
About Huckabee Architects
Huckabee Architects is the platform brand of Godspeed Capital’s new architecture, engineering, and consulting services and solutions growth strategy focused on providing cutting edge, technology-driven education design and engineering solutions in attractive, high-growth U.S. markets. Founded in 1967 and headquartered in Fort Worth, Texas, Huckabee is the largest education architecture and design services firm in the state of Texas and consistently ranks among the top educational architecture firms in the nation. The firm’s expertise ranges from early learning to higher education, the arts, athletics and spaces where learners of all ages can expand their knowledge. The firm’s education-focused services complement a holistic, human-centric and evidence-based approach to design. For more information, please visit https://www.huckabee-inc.com/
About Godspeed Capital
Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations. For more information, please visit the Godspeed Capital website at www.godspeedcm.com
