Good Springs Capital LP, a private investment firm that is focused on partnering with founders, families, and entrepreneurial management teams in the industrial and services sectors, today announced the closing of its inaugural fund, Good Springs Capital Fund I. Fund I closed with a total committed capital of $570 million, bringing Good Springs’ assets under management to about $611 million. And Fund I is anchored by the Chickasaw Nation and includes a diverse group of investors.
Good Springs Capital is headed by Managing Partners David Van Geyzel and Udi Toledano, the former President & CEO and Chairman, respectively, of Alleghany Capital Corporation, the private investment arm of Alleghany Corporation – which was acquired by Berkshire Hathaway in 2022. This founding team at Good Springs Capital also includes Partners Rob Hulick and Rich Albano, and Vice President Oren Bentley – key leaders in building Alleghany Capital Corporation into a $5 billion business.
Toledano pointed out that the firm closed an investment in family-held Kimbel Mechanical Systems and founder-owned Tectonic Engineering Consultants, Geologists & Land Surveyors. Kimbel is a leading mechanical contractor providing plumbing, HVAC, and electrical installation services to the nation’s leading homebuilders and Tectonic is a leading multi-disciplined engineering firm focused on the transportation, telecommunications, energy, and water infrastructure end markets.
KEY QUOTES:
“We established Good Springs Capital to expand upon our team’s successful history partnering with talented middle-market entrepreneurs in the industrial and services sectors. Our senior team has worked together for more than a decade and we are pleased to have surpassed $600 million in assets under management within 18 months since launch. We are grateful to our anchor investor, the Chickasaw Nation, and to our other investors for their trust and support in providing us the opportunity to continue to implement our investment strategy and value creation model.”
- David Van Geyzel
“2024 was a milestone year for Good Springs. In addition to closing our inaugural fund, we completed our first two platform investments. In June we closed our investment in family-held Kimbel Mechanical Systems and in October we invested in founder-owned Tectonic Engineering Consultants, Geologists & Land Surveyors.”
- Udi Toledano
“We are excited about the growth potential of our first two portfolio companies and the partnerships we have built with their management teams. We believe that Good Springs is well-positioned to deploy additional capital in new platforms and add-ons in our target sectors in the years ahead.”
- Rob Hulick
