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Firmament Exits Pinnacle MEP

Firmament (PRNewsfoto/The Firmament Group)

News provided by

Firmament

Oct 16, 2024, 08:45 ET

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NEW YORK, Oct. 16, 2024 /PRNewswire/ -- Firmament, a provider of structured equity capital solutions for small- and medium-sized enterprises, successfully exited its investment in Pinnacle MEP ("Pinnacle" or the "Company"), a leading mechanical services provider based in the Great Lakes region. Pinnacle was acquired by Blue Point Capital Partners, a middle-market private equity fund based in Cleveland. The terms of the transaction were undisclosed.

Headquartered in Michigan, Pinnacle offers a holistic community solution by providing an array of two-trade (HVAC and plumbing) services, primarily to commercial customers. The Company brings decades of local market experience and exceptional operational resources to the platform, with a focus on strengthening its community-based trade services and fostering long-term customer relationships.

With support from Firmament and Aquila Equity Partners, Pinnacle completed 15 acquisitions within the last four years, creating a market-leading portfolio across Ohio, Michigan, and Indiana. Looking forward, Blue Point aims to enhance Pinnacle's capabilities and scale by leveraging the firm's deep experience in the business services sector with the support of its extensive operating resources.

Under the leadership of CEO Andy Reed, Pinnacle has positioned itself as a key player in the region. Reed remarked, "This new partnership represents a significant opportunity for Pinnacle to enhance its service offerings and expand its reach throughout the Midwest."

Brian Peters, Principal at Firmament, stated, "We are delighted by the progress we made with Pinnacle and remain excited for the management team in their next chapter. Partnering with Aquila Equity Partners and Pinnacle leadership has been a rewarding journey. Our collaboration helped position Pinnacle for growth in the competitive mechanical services sector."

About Pinnacle

Pinnacle MEP (https://www.pinnacle-mep.com) is a portfolio of companies providing HVAC, plumbing and related mechanical services with a vision for every community to be served by reliable and trustworthy trades within the industry. Pinnacle, which is comprised of operators and entrepreneurs who know how challenging it can be to run a successful business, is equipped with the resources to help them grow effectively and do more for the people who rely on them.

About Firmament
Firmament (www.firmament.com) provides control equity, minority equity and growth debt capital to lower-middle market businesses primarily in three core industry verticals: Technology, Healthcare and the Environment. Within these verticals, we make investments in service, software and specialty-manufacturing companies with significant scaling potential. We seek to be a value-added partner to entrepreneurs, management teams, and business owners, and curate solutions by deploying versatile capital in a user-friendly way. With offices across the United States, Firmament is focused on turning small business into big business.

Media Contact: 
Isabella Schepel
[email protected]

SOURCE Firmament

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