EFCG is pleased to announce that our client, Tectonic Engineering Consultants, Geologists & Land Surveyors, D.P.C. and its affiliates ("Tectonic") has received an investment from entities managed by 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.
Headquartered in Mountainville, New York, Tectonic is a leading multi-disciplined engineering firm focused on the transportation, telecommunications and 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 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 marks an important milestone in Tectonic’s history and Richard and I would like to thank all of our employees for their efforts in building the Company over the years,” commented Donald Benvie, Tectonic’s co-founder and CEO. “I also look forward to working with Good Springs and pursuing our next stage of growth. 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.”
“We appreciate all the support we received from the EFCG team, preparing us for and running such an effective process and enabling us to achieve this outstanding outcome. We’re very excited for this next phase for Tectonic,” added Donald Benvie.
EFCG initiated the transaction and served as exclusive financial advisor to Tectonic.
Read the full press release here.
