CARSON, Calif., April 10, 2025 /PRNewswire/ -- AMPAM Parks Mechanical, Inc. ("AMPAM" or the "Company"), a portfolio company of Gemspring Capital and a full-service provider of design-build plumbing and HVAC solutions serving the multifamily end market, announced today its acquisition of Seal Electric, Inc. ("Seal Electric"), an electrical services provider focused on the multifamily market. Terms of the transaction were not disclosed.
Founded in 1996, Seal Electric is a leading full-service electrical contractor for multifamily residential projects throughout California and Arizona. With over two decades of specialized expertise, the company has earned a reputation as a reliable partner for leading multifamily general contractors and developers.
This strategic acquisition expands AMPAM's capabilities by adding electrical services, positioning the company as the first multifamily-focused MEP (mechanical, electrical, and plumbing) provider in California. Seal Electric, founded by Frank Bongiovanni, will continue under the leadership of current president Joe Bongiovanni while operating under the AMPAM umbrella.
"We are delighted to welcome Seal Electric into the AMPAM family," said AMPAM Co-Founders Buddy Parks and John Parks. "Having worked with the Seal Electric team on numerous projects over the past 20 years, we know firsthand their commitment to quality and customer satisfaction. By integrating their electrical expertise with our plumbing and HVAC services, we can now offer a comprehensive, fully integrated MEP solution that strengthens our position in the multifamily market."
Joe Bongiovanni added, "Joining forces with AMPAM is an exciting opportunity for Seal Electric. Their reputation for excellence and innovative approach to projects align perfectly with our strategic vision. Together, we will deliver unparalleled value through integrated solutions and streamlined project delivery."
About AMPAM
Founded in 1997, AMPAM is a full-service provider of design-build plumbing and HVAC solutions serving the multifamily residential end market. With over 1,000 employees across California, 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 and HVAC provider among leading multifamily general contractors and developers. For more information, visit www.ampam.com.
About Seal Electric
Based in El Cajon, California, Seal Electric is a leading electrical services provider focused on large multifamily residential projects. With a best-in-class track record consisting of over two decades of deep electrical experience, Seal Electric has established itself as a trusted partner to leading multifamily general contractors and developers.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $3.8 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 $1 billion in revenue and are in the business services, consumer services, financial and insurance services, healthcare, industrials, software, and tech-enabled services sectors. For more information, visit www.gemspring.com.
CONTACT: Alex Shakibnia, [email protected]
SOURCE Gemspring Capital
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