WESTPORT, CT (October 4, 2023) – Gemspring Capital Management, LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has acquired a majority interest in AMPAM Parks Mechanical, Inc. (“AMPAM” or the “Company”). Financial terms of the transaction were not disclosed.
Founded in 1997 by Buddy and John Parks, AMPAM is a full-service provider of design-build plumbing solutions serving the multifamily end market. With approximately 1,000 employees, the Company’s offerings include design-build, pre-fabrication, installation, and post-installation services. AMPAM has delivered operational excellence to its customers for over 20 years and is considered the premier plumbing provider amongst leading multifamily general contractors and developers.
Co-founder Buddy Parks, who will remain as Chairman and maintain a significant ownership stake in the Company, commented, “We look forward to the partnership with Gemspring, which comes at an inflection point for AMPAM. Together, we have a shared vision for the business that includes expanding into new geographies, cross-selling additional trade services, and penetrating adjacent end-markets. Gemspring’s operational expertise, extensive network, and M&A support will help us execute on our next phase of growth.”
“Buddy and John have built an incredible business, and we believe it is truly a differentiated market player and trusted strategic partner for its customers,” said Ravdeep Chanana, Managing Director at Gemspring. “We are excited to invest in the Company and work closely with the AMPAM team to build on its track record of strong organic growth driven by operational excellence, domain expertise, and outstanding customer service. We look forward to partnering with AMPAM to expand its footprint and offerings while continuing to deliver exceptional value to its customers.”
Kirkland & Ellis LLP served as legal advisor to Gemspring.
About AMPAM
Based in Carson, CA, AMPAM is a leading plumbing provider focused on large multifamily residential projects. The Company’s best-in-class operations are driven by high-quality service with a unique focus on data and analytics. AMPAM’s proprietary design-build and pre-fabrication capabilities enable the Company to optimally handle large-scale projects and maximize operational efficiencies providing significant cost-savings to customers. For more information, visit www.ampam.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.5 billion of capital under management, provides flexible capital solutions to middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth, value creation and sustainable competitive advantages. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.