GREENWICH, CT – Southfield Capital, a premier lower middle market private equity firm, announced today that Milrose Consultants (“Milrose”), a national leader in building compliance services and solutions, has completed its strategic partnership with JM Zoning, LLC, a well-known municipal permitting and zoning consulting firm based out of New York City, and Project Expediters Consulting Corp. (“PECC”), a well-established permit expediting firm based out of Englishtown, NJ. The two transactions represent Milrose’s eighth and ninth since partnering with Southfield.
JM Zoning, founded in 2006 by Joey Goldzal, provides guidance to the nation’s top property owners, development firms, and industry partners. Known for their consistent client service and professional expertise with a focus on multi-family residential, new building development, and commercial-to-residential conversions, JM Zoning has become a go-to municipal building consulting, permitting, and code and zoning firm in New York City.
PECC, founded in 2002 by Coral Silsbe, is a boutique expediting firm that specializes in helping clients navigate the planning and zoning approval process throughout the country. With over two decades of experience serving as the go-to permit expeditors for commercial and mixed-use developments, PECC offers a wide variety of services including entitlement approvals, code consulting, zoning analysis, due diligence, utility coordination and installation.
The combination of Milrose, JM Zoning and PECC will allow the companies to leverage each other's capabilities to better serve their clients and enhance the portfolio of services they can offer across a national footprint. The new alliance follows a series of investments that Milrose has made to broaden and scale its portfolio of services since partnering with Southfield.
Dominic Maurillo, CEO of Milrose, expressed his enthusiasm about the announcement, stating “We are excited to extend a warm welcome to JM Zoning and PECC, as they become an integral part of Milrose’s team of technical experts. JM Zoning has a phenomenal reputation in the New York real estate industry, and they bring a wealth of knowledge and experience in converting commercial properties into residential developments to the Milrose team and our clients. Additionally, the Milrose and PECC partnership will allow both companies to leverage each other's unique strengths to deliver better, more efficient consulting services to our clients at every stage of the project lifecycle and across all building end markets nationally.”
Southfield Principal, Chris Grambling, commented on the transaction, "We are thrilled to join forces with these two great companies. The addition of JM Zoning further diversifies our end markets and provides Milrose clients with expertise in converting commercial properties into residential developments. PECC adds new expertise and service offerings while broadening our geographic footprint, positioning Milrose to create unparalleled value for its clients.”
Monroe Capital LLC provided debt financing. Wiggin & Dana provided legal counsel to Milrose and Southfield. East Wind Advisors served as the financial advisor to JM Zoning.
About Milrose Consultants
Milrose Consultants is the leading national provider of building code compliance, fulfillment, and consulting solutions spanning a broad spectrum of industry sectors including commercial, retail, industrial, multi-family residential, healthcare, and life sciences. Founded in 1988, Milrose enables clients to outsource the burden associated with navigating the complex building compliance environment through its diverse portfolio of permitting, code and zoning, regulatory filing, due diligence, and other compliance solutions.
For more information, please visit www.milrose.com.
About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 - 15 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies.
For more information, please visit www.southfieldcapital.com. |
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