We are pleased to share the sale of our client, Signature Mechanical, Inc., to Palen Kimball, L.L.C. (a Marsden Company). The transaction closed April 1, 2022.
Located in Spring Lake Park, Minnesota, Signature Mechanical (Signature) is a full-service plumbing and piping contractor serving the Twin Cities and surrounding communities. The majority of projects are commercial tenant finish-outs and new construction in and around the Twin Cities of Minneapolis and St. Paul, Minnesota marketplace. Signature’s philosophy is one of honesty, integrity, hard work, dedication, and quality. Repeat business and referrals are key to Signature’s success. Signature’s leaders believe the way to ensure long-term relationships is to take every job personally and care about the final product. This has been the main contributing factor to the Company’s strong growth and success.
Palen Kimball (Palen), located in St. Paul, Minnesota, provides heating, cooling, refrigeration, diverse HVAC design-build and retrofitting to industrial, manufacturing, commercial, and institutional customers in Minnesota and around the world. Palen also provides commercial buildings with best-in-class HVAC service to fully optimize their commercial properties, ensuring greater efficiency for the people inside. Clients also call on Palen for customized service programs for heating equipment, cooling equipment, energy management controls, reduced energy use and costs, and to service their industrial refrigeration equipment.
Headquartered in St. Paul, Minnesota, Marsden Services (Marsden) is comprised of several operating companies and is one of the largest privately-owned facility service providers in the United States. Founded in 1952, Marsden has grown both organically and through a series of strategic acquisitions, starting in 1976 with the acquisition of American Security. Marsden entered the HVAC space in 2008 with the acquisition of Palen Kimball. Dozens of acquisitions have followed.
Generational Equity Executive Managing Director of M&A – Central Region, Michael Goss, and his team, led by Senior M&A Advisor, Stephen Dinehart, with the support of Vice President, M&A, Jacob Mangalath, successfully closed the transaction. Executive Managing Director and Group Leader Randy Kamin established the initial relationship with Signature.
“Joining the Marsden family is a great transition for Signature Mechanical. It provides new growth opportunities for their employees and expanded services for their clients plus a clear ownership succession,” Dinehart said.
If you would like to explore other transactions our associates have supported in this industry, visit our dedicated Engineering, Contracting & Construction M&A deals page.
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