GOOD SPRINGS CAPITAL ANNOUNCES KIMBEL MECHANICAL'S ACQUISITION OF GIBSON PLUMBING

NEW YORK, May 27, 2025 /PRNewswire/ -- Good Springs Capital LP ("Good Springs"), a private investment firm focused on partnering with founders, families, and entrepreneurial management teams in the industrial and services sectors, today announced that its portfolio company, Kimbel Mechanical Systems ("Kimbel"), a leading plumbing, HVAC, and electrical contractor, has acquired Gibson Plumbing Company ("Gibson" or the "Company"). Headquartered in San Antonio, Texas, Gibson is a leading single- and multi-family residential plumbing contractor focused on the Texas market.

Rob Kimbel, CEO of Kimbel, commented, "The transaction with Gibson, our first acquisition, represents the beginning of an exciting chapter of growth for Kimbel. With the addition of Gibson's operations in San Antonio, Dallas, Houston, and Austin, we are adding four of Texas' fastest-growing regions to our footprint. We welcome Gibson to the Kimbel family and believe that this transaction will benefit Kimbel's and Gibson's customers, employees, and vendors."

Barry Bankler, the Company's CEO, added, "Gibson, which was founded in 1954, is proud to have served the plumbing needs of Texas builders for over 70 years. I would like to thank all the employees that helped us build the Company to where it is today. We are pleased to have found the perfect home for Gibson."

Rob Hulick, Partner of Good Springs, added, "This transaction meaningfully expands Kimbel's geographic reach and is consistent with the growth strategy that Kimbel and Good Springs developed when we formed our partnership last year. We are excited about the opportunities that will emerge from this combination and look forward to supporting Kimbel's continued expansion."

Kutak Rock LLP acted as legal counsel to Kimbel. FMI Capital Advisors, Inc. acted as financial advisor and Elder Bray & Bankler PC acted as legal counsel to Gibson.

About Kimbel Mechanical Systems

Founded in 1984 in Ohio and re-established in Northwest Arkansas in 1993, Kimbel is a leading national mechanical contractor that specializes in servicing residential and commercial builders with plumbing, HVAC, and electrical needs. Kimbel focuses on single-family projects such as mid- to large-scale developments and multi-family projects such as military housing, condominiums, hotels, tax credit housing, apartments, student housing, hospitality, and assisted living. With a team of over 650 employees, including 450 tradespeople, Kimbel has grown to be a premier mechanical contractor in its markets. For more information about Kimbel, please visit www.kimbel.com.

About Good Springs Capital

Good Springs, based in New York, NY, is a private investment firm focused on making control investments in middle-market companies run by founders, families, and entrepreneurial management teams in the industrial and services sectors. Good Springs is honored to have the Chickasaw Nation as a strategic partner. Good Springs approaches opportunities with a long-term mindset and strives to build strong partnerships with talented management teams. It supports successful companies in pursuing their next chapter of growth through the implementation of the Good Springs Growth System. For additional information about Good Springs, please visit www.goodspringscap.com.

Media Contact: Kristina Mayne Floyd, [email protected]

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SOURCE Good Springs Capital LP