Godspeed Capital invests in Huckabee Architects
In 2020, Huckabee Architects (“Huckabee”) was a ~$90 million revenue architecture firm focused exclusively on the Texas K-12 education market. Under the leadership of CEO, Chris Huckabee, the firm had experienced top quartile growth and profit margins compared to peers.
The company was entirely concentrated in a single geographic market (Texas) and single service (K-12 architecture). The management team had ambitions to accelerate growth through a robust acquisition strategy, and leverage their winning formula for top quartile performance in order to build a diverse, nationwide architectural design business.
However, Huckabee’s primary challenge was they had never completed a significant acquisition in the company’s history and the firm was primarily owned by one individual. A robust acquisition strategy would require significant capital resources and an experienced partner who could assist in deal structuring, financing, and integration processes.
Huckabee engaged AEC Advisors to help find a capital partner who could address these challenges and help take Huckabee to the proverbial next level. AEC Advisors conducted a systematic, yet confidential, process to identify and negotiate with financial sponsors, including both traditional private equity firms and family office investors.
In 2022, Huckabee and private equity firm Godspeed Capital announced a transaction in which Godspeed Capital made a majority investment in the firm. Through this investment, Huckabee was established as the platform brand for a new architecture, engineering, and consulting services and solutions growth strategy focused on providing cutting edge, technology-driven design and engineering solutions in high-growth U.S. markets.
The existing Huckabee leadership and management team remained fully intact and retained a significant equity stake in the company. In the first 6-month since they deal closed, the company already made 4 acquisitions increasing its revenue by ~80% on a run-rate basis.