KPP Backs SoCal Plumbing Contractor

AMPAM Parks Mechanical Inc., a plumbing contractor for large apartment housing projects in Southern California, has raised $23.5 million in private equity funding from Key Principal Partners. The investment is in exchange for a minority ownership position.

PRESS RELEASE

Key Principal Partners (KPP), a $1 billion private equity and mezzanine firm that makes both non-control and control investments in growing middle-market companies, announced a $23.5 million non-control investment in AMPAM Parks Mechanical, Inc., to facilitate the companys growth.

AMPAM Parks Mechanical, Inc., headquartered in Wilmington, California, is the leading plumbing contractor in Southern California for large apartment housing projects. Its customers include virtually all of the major apartment developers in Southern California. Buddy Parks and John Parks founded the company in 1997. Buddy Parks will maintain his role as Chief Executive Officer of AMPAM and John Parks will continue as President and Head of Operations.

We believe that AMPAM is in an excellent position for continued growth, said Greg Davis, a Principal with KPP. The significant population expansion in Southern California, coupled with an increased interest in rental properties as a result of recent market forces, will likely augment demand for AMPAMs services.

Our strong, long-term customer relationships were built on our reputation as a quality provider of value-added services. KPPs investment will enable us to maintain our excellent record of serving our clients and allow us to grow with them in other markets, said Buddy Parks, CEO of AMPAM.

About Key Principal Partners

Key Principal Partners