Palm Beach Capital Fund VI – through one of its investment entities – announced that it has made a strategic investment in MBI Companies, a leading architecture and engineering design firm based in Knoxville, Tennessee.
PBC’s strategic investment in MBI Companies supports the launch of PBC’s latest investment platform, which is focused on creating a national architecture and design services firm. PBC will continue to provide growth capital to support a robust acquisition strategy as well as organic growth initiatives to expand services and the platform’s geographical reach.
MBI Companies will retain its existing name and workforce, along with its two offices in Chattanooga and Knoxville. And existing leadership will remain in place and continue to lead day-to-day operations in the future.
PBC has a history of driving transformative growth in the AEC sector. And as the lead investor and growth engine behind Universal Engineering Sciences (ENR #36), the fastest-growing AEC firm according to Zweig Group in 2020, 2021, 2022, and 2023, PBC played a significant role in helping Universal Engineering Sciences achieve unprecedented scale and success. And PBC has been the growth partner for Pape-Dawson Engineers (ENR #93), which has more than doubled in size over the past 18 months since PBC’s investment. These accomplishments highlight PBC’s commitment to fostering meaningful growth and partnerships within the AEC sector.
Dale Hersey will serve as an Operating Partner on behalf of PBC, working closely with MBI Companies and future acquisition targets to realize the platform’s long-term goals. And his extensive expertise in strategic growth initiatives and implementing value-creation plans will play a vital role in shaping the platform’s success.
John Brock from Brock Shipe Klenk PLC served as the seller’s legal counsel, and Reggie Zachariah and Matt Whited from Greenberg Traurig, LLP served as the buyer’s legal counsel on the deal.
KEY QUOTES:
“With Palm Beach Capital’s proven track record of collaborating with respected firms in the AEC sector, we’re excited to join forces with them to help build a national architecture and design firm that offers a broad range of high-quality services across diverse markets.”
– Bill Steverson, President of MBI Companies
“At the heart of our operations are our culture, our team, our clients, and the communities we serve. As we grow, we’re focused on partnering with architecture firms that embody these values and demonstrate an unwavering commitment to excellence.”
– Eddie Jett, CEO of MBI Companies
“MBI Companies is an established and respected leader in the industry with best-in-class service and is led by an excellent management team. They have a strong position within the markets they serve, and we see tremendous opportunities for geographic expansion across the United States. We are thrilled to partner with the entire MBI Companies team to support them in this next phase of growth.”
– Nate Ward, Palm Beach Capital Co-Founder and Managing Partner
