Garnett Station Partners Launches Grizzly MEP, a Commercial Mechanical, Electrical and Plumbing Services Platform

Announces First Partnership with Stiles Heating & Cooling

Garnett Station Partners (“Garnett Station” or “GSP”), a New York-based principal investment firm that manages over $3.5 billion of assets, today announced the launch of its newly formed Commercial Mechanical, Electrical and Plumbing (“Commercial MEP”) services platform, Grizzly MEP, in partnership with industry veteran Kelly Romano, who will serve as Chairman of the Board.

The Grizzly MEP platform partners with high-quality service providers to support outsized growth and drive increased efficiency, reliability and customer satisfaction in the highly fragmented Commercial MEP market.

As part of today’s launch, Grizzly MEP also announced its first partnership with Stiles Heating & Cooling (“Stiles” or “Stiles Services”), a founder-owned leading provider of HVAC, building controls and plumbing services across Georgia and South Carolina. Through this partnership, Grizzly MEP will leverage Stiles’ reputation for high-quality service, long-tenured customer base and strong market position to accelerate growth and expand its reach across geographies, customers and end markets.

“Commercial MEP is an approximately $500 billion market with strong growth drivers, room for consolidation and resilient demand bolstered by an increasing need for sustainable and energy efficient solutions,” said Jordan Garay, Partner at Garnett Station. “We see tremendous potential in Grizzly MEP, and we are thrilled to be launching this platform in partnership with Kelly. Her 30+ year track record of successfully building businesses across the HVAC and building services space will be a great asset as we scale the platform and source additional targets across the industry.”

Ms. Romano commented, “Grizzly MEP is an exciting opportunity to realize the vast untapped value in the Commercial MEP sector. Through our partnership with Stiles, we are fortunate to have a strong market position in the Southeast with a recognized brand, long-term customer relationships and a reputation for high-quality service. I look forward to working with the GSP team to scale the Grizzly MEP platform and provide customers the reliable, high-quality mechanical, electrical and plumbing services they need to run their operations comfortably and efficiently.”

Doug Stiles, Owner of Stiles Services, added, “We have found a trusted partner in Kelly, Jordan and the entire Garnett Station team. We look forward to partnering with Grizzly MEP and leveraging the platform’s resources to expand our business, while furthering our commitment to providing our Georgia and South Carolina communities with best-in-class service.”

Croft and Bender served as financial advisor to Stiles.

About Garnett Station Partners

Garnett Station Partners is a principal investment firm founded in 2013 by Matt Perelman and Alex Sloane that manages over $3.5 billion of assets. Garnett Station partners with experienced and entrepreneurial management teams and strategic investors to build value for its portfolio of growth platforms. The firm draws on its global relationships, operational experience and rigorous diligence process to source, underwrite and manage investments. Core sectors include consumer and business services, health and wellness, automotive, and food and beverage. Garnett Station's culture is based on the principles of entrepreneurship, collaboration, analytical rigor and accountability. For more information, please visit garnettstation.com.

About Grizzly MEP

Grizzly MEP is a Commercial Mechanical, Electrical and Plumbing (“Commercial MEP”) platform focused on partnering with best-in-class founders and management teams across the United States to build a network of leading Commercial MEP service providers. Grizzly MEP is committed to supporting its high-quality, customer-focused businesses with investments in infrastructure, technology and growth. For more information, please visit grizzlymep.com.

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