CHARLOTTESVILLE, Virginia – April 13, 2022 – Harren Equity Partners, a leading private equity firm focused on the lower middle market, has announced a significant investment in Core States Group, a premier provider of integrated solutions for multi-site businesses. This strategic recapitalization marks the first platform investment from Harren Investors IV, L.P. (“Fund IV”), signaling a robust start for the fund.
Core States Group, established in 1999, has built a strong reputation for delivering comprehensive architectural, design, engineering, program management, and signage solutions. The company serves a diverse portfolio of blue-chip, multi-national clients across various sectors. Core States is particularly recognized for its expertise in supporting large enterprise clients with multi-site expansion, remodeling, and renovation projects throughout North America.
Beyond its core service offerings, Core States is also at the forefront of emerging infrastructure development, providing engineering, procurement, and construction (EPC) services for zero emission vehicle (ZEV) infrastructure and distributed energy generation projects. This diversification highlights the company’s adaptability and commitment to meeting the evolving needs of its clients. By integrating a multi-disciplinary approach, Core States delivers innovative and efficient solutions, setting itself apart in the market. Headquartered in Ambler, PA, Core States operates across North America, providing nationwide reach and localized expertise. More details about the company can be found at www.core-states.com.
John Scheffey, Founder & Chairman of Core States, expressed enthusiasm about the partnership, stating, “Teaming up with Harren Equity Partners is a pivotal moment for Core States. I am excited to continue as an investor alongside Harren as we jointly pursue the significant growth opportunities ahead.”
D. David Dugan, President of Core States, echoed this sentiment, adding, “We are confident that this partnership with the Harren team will empower Core States to accelerate our strategic growth initiatives, which have already demonstrated considerable success. Our entire leadership team is eager to collaborate with Harren and collectively invest in the future.”
Joel Carter, Partner at Harren Equity Partners, commented on the strategic fit, “Our investment in Core States aligns perfectly with Harren’s established strategy. For over two decades, Harren has consistently partnered with exceptional organizations like Core States and leaders like John and Dave. We have deeply valued our collaboration with the Core States executive team in recent months, gaining a thorough understanding of their unique strategy and future objectives. Harren is thrilled to partner with Core States as the inaugural platform investment for Fund IV.”
