Godspeed Capital buys Ascent

Godspeed Capital has acquired Roanoke, Virginia-based Ascent Engineering Group, Inc., an engineering and consulting firm.

Godspeed Capital has acquired Roanoke, Virginia-based Ascent Engineering Group, Inc., an engineering and consulting firm. Terms of the transaction were not disclosed. PSMJ Resources, Inc advised Ascent while AEC Advisors advised Godspeed Capital and Prime ABA.

PRESS RELEASE

Roanoke, VA, November 22, 2021— Godspeed Capital Management LP (“Godspeed Capital”), a lower middle-market Defense & Government services, solutions, and technology focused private equity firm, today announced the successful acquisition of Ascent Engineering Group, Inc. (“Ascent” or the “Company”), an Engineering & Consulting firm that specializes in the engineering and design of mechanical, electrical, and plumbing (“MEP”) systems for K-12, Higher Education, Healthcare, and State & Local Government clients. The financial terms of the transaction were not disclosed.

Founded in 1959 and headquartered in Roanoke, VA, Ascent is a prominent MEP Engineering & Consulting firm with over six decades of experience supporting its public and private sector clients. The Company produces plans, specifications, studies, reports, energy analysis, and construction administration services for new construction or renovation projects. Ascent specializes in the engineering and design process across mechanical, electrical, plumbing, fire protection, and information technology systems. The Company employs a seasoned staff of over 20 professionals with unique technical expertise and has cultivated a strong reputation in the K-12, Higher Education, Healthcare, and State & Local Government markets in the Mid-Atlantic region.

The newly acquired Ascent will join Godspeed Capital’s multi-disciplinary Engineering & Consulting services growth platform, Prime ABA, LP (“Prime ABA” or the “platform”), to help accelerate Prime ABA’s organic and acquisition growth strategy. With the addition of Ascent’s suite of highly sought-after MEP capabilities, Prime ABA is well-positioned to compete for larger contracts across its public and private sector client base by providing an expanded portfolio of services and solutions focused on the burgeoning Mid-Atlantic and Southern markets. Following the transaction, Ascent will continue to operate as a standalone company within the Prime ABA platform led by its existing management team, who co-invested equity in the transaction, and will seek to further the growth initiatives of Prime ABA.

Benjamin “Benjie” Linkous, Ascent President and CEO, said, “We are thrilled to partner with Godspeed Capital and join the Prime ABA platform, whose deep managerial expertise and collaborative approach will expand and enhance our dynamic project capabilities, client relationships, and geographic reach.”

Brandon Enochs, Prime ABA CEO said, “We are honored to welcome Ascent into the Prime ABA family of companies and are excited to leverage their capabilities as we continue to expand the platform.” Mr. Enochs continued, “We look forward to further developing Prime ABA’s strong foundation in close collaboration with the Ascent leadership team and are ready to capitalize on new growth opportunities as we build into 2022.”

Prime ABA was established in 2021 to provide a full continuum of architecture, design, engineering, surveying, consulting, and construction management services to a wide range of public and private sector clients, addressing the fundamental and growing demand for infrastructure services and solutions. The addition of Ascent follows Prime ABA’s acquisition of Prime Engineering Inc., based in Atlanta, GA, and Austin Brockenbrough & Associates, LLC, based in Richmond, VA.

Ascent was advised by PSMJ Resources, Inc. Godspeed Capital and Prime ABA were advised by AEC Advisors LLC.

About Ascent Engineering Group, Inc.
Ascent Engineering Group, Inc. (“Ascent”) is a mechanical, electrical, and plumbing (“MEP”) Engineering & Consulting firm serving K-12, Higher Education, Healthcare, and State & Local Government clients. Headquartered in Roanoke, Virginia with a second office in Richmond, Virginia, Ascent employs over 20 employees and serves a variety of clients throughout the Mid-Atlantic. The Company produces plans, specifications, studies, reports, energy analysis, and construction administration services. For new projects, Ascent provides all engineering necessary for quality design, installation, and operation of MEP systems. Areas of specialization include the engineering and design of mechanical, electrical, plumbing, fire protection, and information technology systems. For more information, please visit Ascent’s website at www.ascenteg.com.