AMPAM Acquires Seal Electric, Inc.
- Editor
- Apr 10
- 1 min read
Whats Happening:
AMPAM Parks Mechanical, Inc., a portfolio company of Gemspring Capital, has acquired Seal Electric, Inc., an electrical services provider focused on the multifamily market. This strategic acquisition expands AMPAM's capabilities, positioning it as the first multifamily-focused MEP (mechanical, electrical, and plumbing) provider in California.
Key Moves:
AMPAM acquires Seal Electric, expanding into electrical services
Acquisition positions AMPAM as first multifamily-focused MEP provider in California
Seal Electric to continue under current leadership while operating under AMPAM umbrella
By The Numbers:
AMPAM has over 1,000 employees across California
Seal Electric has over two decades of specialized expertise
Gemspring Capital manages $3.8 billion of capital
Key Quotes:
"We are delighted to welcome Seal Electric into the AMPAM family," said AMPAM Co-Founders Buddy Parks and John Parks.
"Joining forces with AMPAM is an exciting opportunity for Seal Electric," said Joe Bongiovanni, Seal Electric's president.
Bottom Line:
The acquisition of Seal Electric by AMPAM Parks Mechanical strengthens AMPAM's position in the multifamily market by expanding its service offerings to include electrical services. This strategic move creates a comprehensive MEP solution provider, potentially increasing AMPAM's competitiveness and market share in California's multifamily construction sector.
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