HBI Services Receives a Minority Equity Investment From Genesis Park
Oklahoma City, OK (August 1, 2024) – Infinity Capital Partners is pleased to announce that HBI Services (“HBI” or the “Company”) has secured a minority equity investment from Genesis Park. The strategic investment marks a significant milestone for HBI Services as it continues to expand its operations and enhance its service offerings.
Originally founded in 1948 as the manufacturer of the Hasty Bake charcoal grill, Richard Alexander purchased HBI in 1994, and with the benefit of the Company’s legacy of world class grill manufacturing, helped turn the Company into a leader in laser cutting, machining, forming, and certified welding of aluminum, stainless, and carbon steel for a diverse set of customers.
“We are grateful to have assisted HBI Services in this pivotal transaction,” said Jacob Willis, Director at Infinity Capital Partners. “Genesis Park’s investment underscores the confidence in HBI Services’ vision and growth potential. We look forward to seeing what the future holds as a result of this partnership.”
“We are thrilled to begin our partnership with Genesis Park. Our team has successfully expanded the business over the last five years, but we are now at an inflection point where it makes sense to bring in a partner. Beyond capital, Genesis Park brings strategic guidance and relationships which will support our continued growth,” said HBI Services CEO Richard Alexander.
“HBI presented an opportunity to invest alongside a talented management team and accelerate the Company’s growth trajectory,” said Curtis Hartman, Managing Partner of Genesis Park. “The HBI team has built an impressive business centered around relationships, quality, and superior customer service. We are culturally aligned and excited to partner with the Company in its next phase of growth.”
Infinity Capital Partners served as the exclusive financial advisor to HBI Services. Terms of the deal were not disclosed.
About Infinity Capital Partners
Infinity Capital Partners is an Oklahoma City-based middle-market investment bank offering a broad range of advisory services to private companies and financial sponsors across a variety of industries. Infinity works closely with founders, shareholders, and management teams of private companies to provide tailored services including M&A advisory, debt and equity placements, recapitalizations, and strategic advisory. Securities placed through Infinity Capital Securities, LLC. Member FINRA. For more information, visit www.infinitycapitalpartners.com.
About HBI Services
HBI Services specializes in laser cutting, machining, forming, and certified welding of aluminum, stainless, and carbon steel. The Company also manufactures a broad range of charcoal grill models and accessories under the Hasty Bake brand. All Hasty Bake grills are manufactured and assembled in Tulsa, OK. With a commitment to precision, quality, and timely delivery, HBI Services offers a comprehensive range of solutions to meet the diverse needs of its clients, driving innovation and value across various industries. For more information, visit www.hbiservices.com.
About Genesis Park
Genesis Park is a Houston-based private investment firm. Its current investment fund, GP Capital Partners, LP, is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration. Genesis Park supports growth and later stage lower middle market businesses through flexible debt and equity capital solutions and strategic guidance. Genesis Park generally targets companies with at least $10 million of revenue and $3 million of EBITDA, with proven business models and seasoned management teams. Managed by three experienced investment professionals with broad regional relationships, Genesis Park is committed to partnering with the companies and management teams in which it invests to facilitate growth, transition, and success. For more information, visit www.genesis-park.com.