Strength Capital Partners Makes Investment in ESP Associates, Inc.
Birmingham-based investment firm Strength Capital Partners, LLC (“Strength”) is pleased to announce its investment in ESP Associates, Inc. (“ESP” or the “Company”), headquartered in the Charlotte, NC metro area.
ESP is a multi-discipline professional services firm providing engineering, surveying and planning services to a variety of public and private clients. The work ESP performs spans a wide variety of end markets including transportation, public safety, land development and energy.
ESP’s core markets are North and South Carolina. They also perform work in several other states in the Southeast and Midwest United States. The Company has expanded from five offices in two states in 2012 to thirteen offices in seven states today.
ESP is a sizable, well-known firm within their core geographies. In 2017, the Company generated $53 million in revenue.
The Company has nearly 400 employees, including over 80 licensed professionals. Top management at ESP has an average tenure of over 20 years, which is a testament to the Company’s ability to retain top talent. ESP’s management team has retained a significant ownership stake in the business.
Strength is excited to partner with the ESP team as the business enters its next phase of growth. The Company will serve as a platform for consolidation in the engineering services industry. Strength will seek to supplement the steady organic growth at the Company by seeking out strategic acquisition opportunities. The acquisition strategy will focus on adding complimentary service lines and entering new geographies.
Strength has executed numerous buy and build investments in the past and ESP is a very good fit for this strategy.
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