Stonebridge Partners (“Stonebridge”) is pleased to announce the successful recapitalization of Godwin Formwork Solutions, Inc., (“Godwin” or the “Company”) in partnership with Godwin’s founder, Chad Godwin. Chad, who founded Godwin in 2010, will remain CEO and has retained the largest individual ownership position as part of the recapitalization. Godwin represents Stonebridge’s 34th platform acquisition and its 12th investment in the infrastructure & building products segment. The transaction closed on April 7, 2022.
Godwin (www.gfsforms.com) is headquartered in Oklahoma City, OK, with branches in Dallas, TX and the Bentonville/Fayetteville region of AR. The Company designs, rents, and sells complex concrete formwork equipment and systems throughout the Midwest and Southwest U.S. markets. In addition to providing infrastructure-focused concrete formwork and shoring equipment, the Company is differentiated in the industry by its in-house technical design expertise and on-site erecting and dismantling services. Godwin’s extensive experience with infrastructure projects – including retrofit, replacement, and new construction – as well as its comprehensive equipment base, has given the Company a leading competitive edge across several infrastructure sectors, including water and wastewater treatment, renewable energy, transportation, and industrial facilities.
Supplementing Godwin’s experienced management team is Stonebridge Operating Partner Ron Chilton who has extensive expertise and a successful track record in the specialty equipment rental industry. “Stonebridge is thrilled to be working with such a successful leader in Chad Godwin to leverage Godwin’s strong position in the specialty equipment rental market to grow its branch network in key targeted markets,” commented Ron.
Debt financing for the transaction was provided by Regions Bank and Five Points Capital. Equity capital was provided by Stonebridge, Five Points Capital, 747 Capital, and management. Glaucon Capital Partners provided advisory services to the Company and Chad Godwin.
Stonebridge Partners (https://StonebridgePartners.com) is a lower middle-market, operations-oriented private equity firm founded in 1986. Taking an active, hands-on approach to value creation, Stonebridge and its Operating Partners partner with the management of its portfolio companies to pursue additional growth avenues and operational efficiencies. Stonebridge is focused on investing in family-owned, niche manufacturing, distribution, and service businesses with EBITDA of $3 million to $15 million.