Architecture Platform Launched by Palm Beach Capital with MBI Investment
Palm Beach Capital Fund VI, L.P. (“PBC”), through one of its investment entities, has announced a strategic investment in MBI Companies, Inc. (“MBI Companies”), a distinguished architecture and engineering design firm based in Knoxville, Tennessee. This investment is a key move in the launch of PBC’s latest investment platform, which aims to create a national architecture and design services firm.
MBI Companies, known for its commitment to exceptional design and service, will retain its name, workforce, and its two offices in Chattanooga and Knoxville. Existing leadership, including CEO Eddie Jett and President Bill Steverson, will continue to guide day-to-day operations. PBC’s investment supports MBI’s growth plans, which include an aggressive acquisition strategy and initiatives to expand services and geographic reach.
Building a National Architecture Firm
The partnership with MBI Companies marks a significant milestone in PBC’s vision to build a leading architecture firm that offers diverse, high-quality services across multiple markets. The firm will continue to operate under its well-established brand, with the addition of PBC’s growth capital to fuel further expansion and operational excellence.
“We are excited to join forces with Palm Beach Capital to build a national architecture and design firm,” said Bill Steverson, President of MBI Companies. “With Palm Beach’s proven track record in the architecture, engineering, and construction (AEC) sector, we look forward to broadening our service offerings and extending our geographic presence.”
Eddie Jett, CEO of MBI Companies, added, “At the heart of our operations are our culture, our team, our clients, and the communities we serve. We’re focused on partnering with firms that align with these values and share our commitment to excellence.”
PBC’s Proven Success in the AEC Sector
Palm Beach Capital has a strong history of fostering growth in the AEC sector. As the lead investor behind Universal Engineering Sciences, a top 40 engineering firm, PBC has played a critical role in helping the company scale rapidly. Universal Engineering Sciences was named the fastest-growing AEC firm by the Zweig Group for multiple years, a testament to PBC’s strategic guidance and growth initiatives.
Additionally, PBC’s partnership with Pape-Dawson Engineers, another top engineering firm, has led to remarkable growth. Over the last 18 months, Pape-Dawson Engineers has more than doubled in size since PBC’s investment. These success stories highlight Palm Beach Capital’s ability to help companies in the AEC sector achieve impressive scale and success.
“We are thrilled to partner with MBI Companies, a respected leader in the industry with a strong position in their current markets,” said Nate Ward, Co-Founder and Managing Partner of Palm Beach Capital. “There are tremendous opportunities for expansion, and we are excited to work with MBI’s exceptional management team to help them realize their long-term growth goals.”
Expert Leadership and Strategy
Dale Hersey, a seasoned professional with extensive experience in strategic growth initiatives, will serve as an Operating Partner on behalf of PBC. Hersey will collaborate closely with MBI Companies and future acquisition targets to help guide the platform’s strategic growth and ensure its continued success.
MBI Companies’ expansion will focus on offering a broad range of architectural and design services, leveraging its core expertise in industrial, manufacturing, education, and healthcare markets. The company’s deep commitment to its culture, clients, and communities will be a driving force as it grows.
About MBI Companies
Founded in 1990, MBI Companies provides multidisciplinary architecture, engineering, and design solutions for a wide range of sectors, including industrial, healthcare, education, and manufacturing. Headquartered in Knoxville, Tennessee, MBI Companies is home to over 90 employees and is dedicated to expanding its reach while maintaining a culture that values people, service, and community.
About Palm Beach Capital
Palm Beach Capital, founded in 2001, is a private equity investment firm based in West Palm Beach, Florida. Currently investing from its sixth fund, PBC focuses on high-growth investment opportunities across various sectors, including business services, healthcare, and transportation. Over its history, Palm Beach Capital has invested in 57 portfolio companies, with a focus on management buyouts, recapitalizations, and growth equity investments.
