Eureka Equity Partners (“Eureka”) today announced the acquisition of Synergi, LLC (“Synergi”, or the “Company”), a leading engineering and construction services firm that specializes in the design, fabrication and installation of highly engineered modular staircases & architectural features for landmark properties across North America. Eureka acquired Synergi in partnership with the Company’s senior management team who will continue to lead Synergi post-acquisition.
Founded in 1986 and headquartered in Elkridge, Maryland, Synergi is one of the largest turnkey providers of feature staircases in North America, serving blue chip customers across multiple end-use industries including the corporate office market, higher education, and healthcare.
“We are thrilled to partner with Synergi’s CEO Jim Admiraal and the rest of its exceptional team,” said Eureka Partner Chris Miller, who joined Synergi’s Board of Directors at the close of the transaction. “Synergi has developed and perfected an end-to-end turnkey solution that considerably de-risks the feature staircase design, fabrication, and installation processes for building owners and contractors, and delivers a more cost-effective and time-efficient product to the end customer. We look forward to supporting Synergi in its next phase of growth.” Tassie Oswald, a Eureka Partner who is also on Synergi’s Board of Directors, added, “The market for feature staircases has grown rapidly over the last few years due to the wellness benefits, pleasing aesthetic, and floorplan flexibility that feature stairs provide. Synergi is well-positioned to continue to outpace the projected market growth as evidenced by its strong backlog and pipeline of opportunities across multiple end-use industries.”
Synergi’s CEO Jim Admiraal said, “This partnership allowed us to expand the ownership group at Synergi to include more key leaders in the organization, and to add the expertise required to take Synergi to the next level. The team at Eureka Equity Partners had the experience, client-centric values and successful track record that we were looking for in a partner. We’re confident that, together with Eureka, we will continue to drive sustainable growth, expand our operations and solidify our position as the market leader in staircases and architectural features.”
Lafayette Square provided debt facilities to support the acquisition.
About Eureka Equity Partners Eureka Equity Partners is a private equity firm targeting niche market leaders with up to $100 million in revenue across industry segments in which Eureka brings significant experience and operating resources, including business services, health care services, specialty industrials and consumer products. Eureka focuses on partnering with proven managers to drive the growth of promising companies into outstanding enterprises. Eureka leads buyouts that bring significant ownership to the operators driving the success of the business. With this core principle that aligns the interests of our operators and our investors, Eureka is also experienced and comfortable effecting minority recapitalizations with flexible investment structures designed to uniquely meet the needs of the company, its management team and other shareholders. More information about Eureka Equity Partners can be found at www.eurekaequity.com.