22 Jun Austin Brockenbrough & Associates Announces Strategic Investment from Godspeed Capital
Richmond, VA (June 22nd, 2021) – Austin Brockenbrough & Associates, LLC (“Brockenbrough”), a premier multi-discipline architecture and engineering firm, has received a strategic investment from Godspeed Capital Management LP (“Godspeed Capital”), a lower-middle-market Defense & Government services, solutions, and technology-focused private equity firm. The financial terms of the transaction were not disclosed.
Douglas T. Lake, Jr., Founder & Managing Partner of Godspeed Capital, said, “Brockenbrough fits seamlessly with Godspeed Capital’s strategy of partnering with talented management teams and investing in companies that offer innovative services and solutions, are well positioned in attractive markets, and are poised for continued growth.” Mr. Lake continued, “Brockenbrough is spearheaded by an experienced leadership team, a highly trained workforce, and operates at the highest level of ethical standards to provide its clients with exceptional service. We look forward to further building on Brockenbrough’s distinguished track record in the Federal, State, and Municipal markets.”
In a related move, Brockenbrough is also announcing changes in its senior leadership team.
- Bob Polino has been appointed as the Managing Principal and Director of Site Development.
- Paul Shope has been promoted to the Director of Buildings.
- Jeff King has been promoted to the Director of Fuels Infrastructure.
- Shelia Wharam has been promoted to the Director of Accounting.
Bruce Sadler, Vince Benedetti, and Craig Matthews remain as Principals in the firm to support this transition.
Founded in 1955 and headquartered in Richmond, VA, Brockenbrough is a leading engineering and architecture company with over six decades of experience supporting its core U.S. Department of Defense and Virginia State and Municipal Government clients, among others. Today, the Company offers civil, mechanical, electrical, and structural engineering, as well as architecture, land surveying, and subsurface utility engineering. Areas of specialization include transportation, water/wastewater treatment, petroleum/fuel storage and distribution, utilities, building systems, and site development.
Brockenbrough employs a seasoned staff of over 40 licensed engineers, architects, LEED accredited personnel, and support staff. The Company boasts an accomplished track record of spearheading and completing complex award-winning projects and has received recognition by PSMJ Resources, Inc. as a successfully managed firm in their exclusive Circle of Excellence ranking. Brockenbrough was also recently highlighted as a Best Place to Work by the Virginia Business Magazine as well as a Top Workplace by the Richmond Times.
“This is an exciting time for Brockenbrough employees and clients,” said Mr. Polino. He further added, “We are proud of the client-focused culture that we have developed, and we will continue to focus on maintaining a high degree of employee engagement. The future is bright for Brockenbrough clients and employees, and I look forward to fostering these relationships in the years to come.” Former Managing Partner Bruce Sadler added, “This is the culmination of many years of effort to prepare the firm for the next generation of leadership. We are extremely confident in Bob Polino leading the firm along with the support and direction from Paul, Jeff, and Shelia.”
Godspeed Capital’s investment was executed in combination with its existing portfolio company, Prime Engineering, Inc. (“Prime”), to form a multi-disciplinary Engineering & Consulting services growth platform providing a full continuum of architecture, design, engineering, surveying, consulting, and construction management services to a wide range of public and private sector clients to address their fundamental and growing demand for infrastructure services and solutions. The Brockenbrough and Prime businesses have been combined in a newly formed holding company, Prime ABA, LP (“Prime ABA”), established by Godspeed Capital to pursue a Government and Infrastructure growth strategy. The combined resources of Brockenbrough and Prime provide an enhanced depth of experience to existing and new clients.
About Austin Brockenbrough & Associates
Austin Brockenbrough & Associates (“Brockenbrough”) is a full-service architecture, engineering, and surveying services firm serving Federal, State, and Municipal Government clients. Headquartered in Richmond, Virginia, Brockenbrough employs over 40 employees and serves its clients globally. The Company offers civil, mechanical, electrical, and structural engineering, as well as architecture, land surveying, and subsurface utility engineering services. Areas of specialization include transportation, water/wastewater treatment, petroleum/fuel storage and distribution, utilities, building systems, and site development. Brockenbrough’s commitment to providing quality, integrity, and value in the services offered is deeply rooted in the Company’s culture and will remain a cornerstone of the Brockenbrough model going forward. We genuinely believe there is no substitute for a continued commitment to excellence and innovation, it is what Brockenbrough was built on and is critical to the success of our Company. For more information, please visit Brockenbrough’s website at www.brockenbrough.com.
About Prime ABA, LP
Prime ABA, LP (“Prime ABA”) is a multi-disciplinary Engineering & Consulting services growth platform providing a full continuum of architecture, design, engineering, surveying, consulting, and construction management services globally to a wide range of public and private sector clients with a focus on addressing the fundamental and growing demand for infrastructure services and solutions. Prime ABA employs over 115 employees and addresses the most complex and critical projects for their clients across five strategically located offices domestically. The group is a nationally recognized leader in the Engineering & Consulting sector and has a long legacy of providing high quality and value-added services to clients while espousing a rich entrepreneurial culture focused on exceeding client expectations.
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 Godspeed Capital’s website at www.godspeedcm.com.