Timberline Investments

What Timberline Investments does

Timberline Holdings is a single-family investment office based in Birmingham, Alabama, founded by Mike Goodrich (former Chairman and CEO of engineering and construction firm BE&K) in 2009–2010. The firm deploys patient, long-term capital across venture, growth equity, private equity, and real estate asset classes, with stated capital deployment of over $500 million across 150+ direct deals and 50 funds. Timberline actively seeks additional control investments in operating businesses with $3–8M EBITDA and experienced management that wishes to remain in place, offering flexible debt and equity structures and an indefinite investment horizon.

The firm's three principal operating platforms are wholly-owned and managed rather than passive investments. Gas Field Services, acquired in 2016, provides services to the Appalachian oil and gas industry and has grown from $14M to $100M in revenue through organic growth and bolt-on acquisitions (Ryan Environmental, CS Trucking and Equipment Transport, a saltwater disposal well). Spray Equipment & Service Center, consolidated through the 2013 Dudley C. Jackson acquisition and the 2019 merger financed by Timberline (with subsequent acquisitions of Paint Related Products and Springer Industrial Equipment), provides industrial finishing solutions through nine North American parts and service centers, two SprayLab testing facilities, and an industry-leading parts inventory; the platform has grown from $9M to $100M. A third platform, two Culver's franchises in greater Birmingham sponsored under a Timberline operator, has grown from zero to $5M in revenue since 2019, with stated intent to expand further.

Timberline's go-to-market is relationship- and referral-driven rather than institutional: the firm does not publicly fundraise, does not run marketing channels, and sources opportunities through its network of family office contacts, board relationships, and professional advisors. Revenue to the parent is not publicly disclosed; revenue mechanics come from investment returns (capital appreciation, dividends, interest) across the diversified portfolio, and the firm operates with a lean team of five named professionals supplemented by external service providers.

Name

Timberline Investments

Legal name

Timberline Holdings

Website

https://timberlineholdings.com

Company type

Private

Founded year

2009

Operating status

Operating

Headcount range

1–10 employees

Short description

Timberline Holdings is a Birmingham, Alabama-based single-family investment office that deploys patient capital across venture, growth equity, private equity, and real estate, operating three platforms: Appalachian oil and gas services, industrial finishing, and Birmingham-area Culver's franchises.

Ownership category

akta.pro rank

Headquarters

HQ city

Birmingham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others

Revenue model

1. Investment Returns: Timberline generates returns through capital appreciation and operating income from its portfolio companies including Gas Field Services, Spray Equipment & Service Center, and Culver's franchises. The firm invests across venture, real estate, and private equity asset classes.
2. Portfolio Company Operations: Timberline currently has two operating companies (Gas Field Services and Spray Equipment & Service Center) generating revenue through their respective industrial services and equipment businesses.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Timberline Holdings is a single-family investment office that provides patient, long-term capital to founders, entrepreneurs, and family-owned businesses across venture, growth equity, private equity, and real estate asset classes. The firm deploys equity and debt capital with flexible structures and an indefinite investment horizon, while also operating wholly-owned industrial and franchise platform businesses. Timberline has invested in over 150 direct deals and 50 funds, deploying more than $500 million of capital since its founding.

Product overview

Timberline Investments is a single-family office investment firm that operates as a diversified portfolio of businesses across industrial, venture, real estate, and private equity platforms. The firm manages three distinct operating company platforms: Gas Field Services (oil and gas industry services), Spray Equipment & Service Center (industrial finishing solutions), and Culver's franchise operations. Timberline acquired and grown these businesses through buyouts, mergers, and organic expansion, with the portfolio spanning early-stage venture investments to control positions in established operating companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Private Equity Investment Capital Patient, long-term equity capital investments in operating companies with experienced management, designed to support growth and provide indefinite hold horizons. Targets companies with EBITDA of $3 to $8 million and the opportunity to deploy additional capital.
• Venture Capital Investments Early-stage venture capital investments evaluated and managed by the firm's venture portfolio team, including technology evaluation, licensing support, and start-up assistance.
• Growth Equity Capital Growth equity investments supporting expansion of established operating businesses, with additional capital available to fund follow-on growth initiatives as portfolio needs arise.
• Real Estate Investments
• Debt Capital Solutions

Quantifiable outcome

• Gas Field Services grew from $14M to $100M in revenue (614% increase)
• +2 more outcomes

Named customers3 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• MSouth Capital Partners: Atlanta-based lower-middle-market private equity sponsor operating with a multi-platform build strategy similar to Timberline, acquiring and growing operating companies in the Southeastern US with concentrated teams and patient capital.
• Falfurrias Capital Partners: Charlotte, NC-based lower-middle-market PE firm pursuing control investments in founder- and family-led businesses, closely mirroring Timberline's model of flexible capital structures, indefinite horizons, and platform development.
• Carousel Capital: Charlotte-based lower-middle-market PE firm focused on control buyouts of growth-oriented companies with values of $25-100M, comparable to Timberline's stated EBITDA $3-8M acquisition profile and partnership approach with management.
• Gen Cap America: Lower-middle-market buyout sponsor that acquires and grows manufacturing and industrial-services platforms via add-on roll-ups, directly comparable to Timberline's playbook at Dudley C. Jackson/Spray Equipment and Gas Field Services.
• Pritzker Private Capital: Chicago-based single-family-office private equity firm using permanent family capital to acquire control positions in operating companies with experienced management, structurally analogous to Timberline's family-office model.
• Webster Equity Partners: Boston-based lower-middle-market healthcare and consumer-services PE firm executing control buyouts of founder-led businesses with patient capital, overlapping with Timberline's Culver's franchise and industrial-services investments.
• Huron Capital Partners: Detroit-based lower-middle-market PE firm known for buy-and-build platforms across industrial and consumer-services sectors, closely aligned with Timberline's tuck-in M&A strategy demonstrated at Spray Equipment.
• Stellex Capital Partners: New York-based lower-middle-market industrial-services PE investor with a permanent-capital structure, comparable in size, sector focus, and platform-build methodology to Timberline's industrial-services portfolio.
• RFE Investment Partners: Connecticut-based lower-middle-market PE firm focused on family- and founder-led industrial and consumer businesses with flexible, long-duration capital solutions, structurally aligned with Timberline's value proposition.

Broad incumbents

• Comvest Partners: Florida-based diversified alternative asset manager with private equity, credit, and direct-lending capabilities, overlapping with Timberline's multi-asset-class approach though operating at larger scale with external LPs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries7 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments9 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Timberline Investments