Truce Capital Advisors Leads the Sale of FPBH, Inc. to Gonzalez Companies

Press Release

Truce Capital Advisors (“Truce”) – A leading independent M&A advisory firm, is pleased to announce the sale of FPBH, Inc. (“FPBH”) to Gonzalez Companies, a portfolio company of Alpine Investors. FPBH is a full-service civil engineering, environmental, surveying, planning, and inspecting firm with locations in North Vernon, Seymour, and New Castle, Indiana. Founded in 1972, FPBH has been proudly serving clients across Indiana for 50+ years.

Truce Capital Advisors acted as the exclusive sell-side advisor to FPBH on the transaction. The transaction was led by Ely Friedman, Founder & Managing Director and Ryan Berning, Vice President. The financial terms of the deal were not disclosed.

"FPBH’s outstanding team, strong reputation, and shared values make them an ideal addition, and we’re proud to welcome them to the Gonzalez family," said Barry Grant, President of Gonzalez Companies. “FPBH brings a wealth of experience and a strong track record of supporting municipal clients across the region. This partnership marks an exciting new chapter, and we look forward to the opportunities and growth it will bring for our teams and the communities we serve."

Dan Wright, CEO of FPBH, noted “We are incredibly happy with the outcome of the deal. I believe our partnering together with Gonzalez allows us to continue pursuing growth opportunities within the region and beyond. Ely and Ryan at Truce were instrumental as our sell-side M&A advisors from start to finish – they are truly experts in their field, and I can’t imagine having gone through this sale process without them.”

Truce Capital Advisors provided merger and acquisition advisory services to FPBH, which included valuation advisory, marketing the business through a confidential, structured sale process, and negotiation of the sale.

About Truce Capital Advisors

Truce Capital Advisors is a leading independent investment bank offering a full spectrum of advisory services to business owners. Truce specializes in i) selling privately-owned or family businesses, ii) assisting buyers in executing their acquisition growth strategies, and iii) providing strategic advisory services.

About FPBH, Inc.

FPBH, Inc. is a full-service environmental, engineering, surveying, planning, and inspecting firm with locations in North Vernon, Seymour, and New Castle, Indiana. Founded in 1972, FPBH has been proudly helping their clients across Indiana solve their most complex challenges for 50+ years. For more information about FPBH, please visit www.fpbhonline.com.

About Gonzalez Companies

Founded in 2004, Gonzalez has a been recognized as a leading provider of consulting services to public and private entities throughout the Midwest. Gonzalez Companies is a partner-managed firm, with a focus on engineering and construction management solutions that provide clients with practical, buildable, and maintainable results. Gonzalez ensures clients receive comprehensive attention and solutions that are second-to-none. For more information about Gonzalez, please visit www.gonzalezcos.com.

About Alpine Investors

Alpine Investors is a people-driven private equity firm committed to building enduring companies by working with, learning from, and developing exceptional people. Alpine specializes in investments in the software and services industries. Alpine’s People First strategy includes a talent program that allows Alpine to bring leadership to situations where additional or new management is needed post-transaction. Alpine has $17 billion in assets under management and has three offices in San Francisco, New York, and Salt Lake City. For more information about Alpine Investors, please visit www.alpineinvestors.com.