CLEVELAND, OH — Blue Point Capital Partners (“Blue Point”) and its Blue Point III portfolio company, Sylvan Group (“Sylvan”), announced today the acquisition of Great Lakes Mechanical (“GLM”). Combining Sylvan and GLM (together, the “Company”) positions the organization for significant growth as a major player in the industrial and commercial contracting industries throughout the Eastern U.S. and Canada.
The acquisition enables the Company to accelerate customer growth by serving as a one-stop-shop for innovative, sustainable and quality industrial and commercial building solutions. Leveraging GLM’s commercial and service capabilities alongside Sylvan’s industrial contracting expertise and geographic reach, the Company will deliver a full line of industrial/mechanical service solutions for its clients.
“We have enjoyed a positive working relationship with GLM for many years and have seen firsthand the high-quality work and excellent customer service the team provides,” said Sylvan CEO Robert Metz. “We are thrilled to formally welcome GLM to the Sylvan family.”
“We couldn’t have found better stewards for the future of our family business than the Blue Point and Sylvan teams. They bring not only industry expertise that will help the Company continue to grow, but also the perfect cultural fit to take care of our employees and customers,” said GLM President Mark Perpich.
“The addition of GLM aligns perfectly with our ongoing growth strategy for Sylvan,” said Blue Point Partner Jonathan Pressnell. “In parallel with our investments in the Company’s organic growth, we plan to make further strategic acquisitions of culturally compatible companies that can expand service offerings, end markets and geographies served—just as GLM will.”
Since Blue Point’s investment in Sylvan in 2018, the team has leveraged its value-added toolkit, especially its operating partner resources, to assist with strategic planning, operational development, data analytics and sales & marketing to considerably raise the bar on the Company’s offerings to its customers. The Company will continue to leverage Blue Point’s capabilities to scale organically to become a preeminent provider of contracting services in North America while actively pursuing accretive investments in companies with complementary offerings and locations.
Blue Point was represented by BakerHostetler, and Stout acted as the exclusive financial and tax advisor in connection with the transaction.
Sylvan Group (www.sylvan-inc.com) is one of North America’s leading providers of industrial pipe installation and fabrication, millwright and rigging, electrical, boiler and turbine contracting services. It provides full industrial project support, including design, planning, installation, maintenance and repair services to a diversified portfolio of customers. Sylvan's broad range of end markets includes automotive, energy, government, education, consumer products, water treatment, material handling, food and pharmaceutical, among others.