Falasca Mechanical, a Vineland-based provider of heating, ventilation, air conditioning, and plumbing services, said Oct. 27 that the company has received an investment from Good Springs Capital LP, a New York-based private investment firm. Financial details were not disclosed.
Falasca Mechanical provides services to education, health care, and other commercial and industrial markets such as time-sensitive retrofit, new installation, and repair services for critical applications.
Founded in 1998, Falasca Mechanical operates in southern New Jersey and southeastern Pennsylvania. Good Springs Capital is focused on partnering with founders, families and entrepreneurial management teams in the industrial and services sectors.
David Van Geyzel, managing partner of Good Springs, said, “The Falasca family, supported by a highly talented union workforce, has built an exceptional company with a well-earned reputation for solid execution and outstanding customer service. We are proud to partner with Dan and Danny Falasca and, together with them, look forward to building on the company’s already impressive track record.”
The company’s vice president, Danny Falasca, said, “The investment by Good Springs is an important milestone in our company history that will help facilitate an eventual third generation transition. We are eager to partner with the team at Good Springs, a firm with deep experience assisting owner-operators in further scaling family businesses like ours.”
Udi Toledano, managing partner of Good Springs, commented, “As with Good Springs’ other transactions, Falasca Mechanical’s senior team, headed by Dan and Danny, will continue to lead the company and day-to-day operations will not be impacted by our investment. In addition, with the backing of Good Springs, we believe the company’s growth has the potential to accelerate through ongoing internal initiatives and the pursuit of strategic add-on acquisitions.”
Valufinder Group Inc. acted as buyside intermediary and Ballard Spahr LLP acted as legal counsel to Good Springs. Hyland Levin Shapiro LLP acted as legal counsel to Falasca Mechanical.
Falasca Mechanical is a leading regional mechanical and plumbing contractor serving the education, health care, and commercial and industrial end markets. Falasca’s projects include university buildings, medical centers, power and energy plants, casinos and industrial manufacturing environments. The company has more than 400 employees, including over 350 skilled union tradespeople.
