Gemspring Capital has acquired Houston-based Mantis Innovation Group, a provider of tech-enabled facility services, primarily for commercial, industrial and government customers. No financial terms were disclosed.
PRESS RELEASE
WESTPORT, Conn., Dec. 16, 2021 /PRNewswire/ — Gemspring Capital, a middle-market private equity firm, is pleased to announce that an affiliate has acquired a majority interest in Mantis Innovation Group, LLC (“Mantis”), a provider of tech-enabled facility services, primarily for commercial, industrial, and government customers.
Headquartered in Houston, Texas, Mantis provides solutions to deliver better building performance and improved energy efficiency for its customers. The company relies on proprietary software tools to offer a full suite of services, including: energy procurement and demand management; solar, roofing, building envelope and pavement assessment and maintenance; and LED lighting, HVAC/mechanical and building automation systems design and implementation.
Led by CEO Dan Marzuola, Mantis’ success has been guided by its tangible value proposition to its customers by driving operating cost savings, providing comprehensive facility maintenance solutions, and helping customers meet their sustainability goals and corporate ESG initiatives. Dan commented, “We are excited to partner with Gemspring and believe that its operational expertise, network of advisors, and M&A support will help us strengthen our platform and sustain our growth trajectory. We look forward to continuing to expand our service offerings and customer base by re-investing in our go-to-market and customer support organizations, as well as the Mantis Perform technology platform.”
Don Gerne, Managing Director at Gemspring, added, “We see building owners seeking to shift from reactive to preventative and predictive asset management, as well as a strong desire to reduce energy consumption. Mantis’ broad suite of value-added services and tech-enabled solutions position the Company very well to support these building owners as the go-to provider of managed facility and energy services. We are delighted to partner with the Mantis team to build on their successes to date and accelerate the Company’s growth.”
“We are incredibly proud and thankful for all of the Mantis team’s hard work, dedication, and innovation made since 2018. Together, we created an industry leader with a truly differentiated service offering, supported by the company’s collaborative mentality and strong culture. We are grateful to have had the opportunity to partner with the Mantis team and believe they are in good hands with Gemspring to take the business to the next level,” added Joe Vallee, Partner at O2 Investment Partners.
About Mantis
Mantis Innovation is a tech-enabled service provider that works with customers to deliver better building performance and improved energy efficiency. The company offers a full suite of services, including: energy procurement and demand management; solar, roofing, building envelope, and pavement, design, assessment and maintenance; and LED lighting, HVAC/mechanical and building automation systems implementation. Mantis is headquartered in Houston, Texas, with 17 locations across the United States from Massachusetts to Washington. For more information, visit www.mantisinnovation.com.
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