Construction Add-on Acquisitions in 2020
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December 31, 2020
- Buyer
- Lithko Contracting, LLC, The Pritzker Organization, DNS Capital
- Target
- Capitol Concrete Contractors, Inc.
- Seller
- Capitol Concrete Contractors, Inc.
- Industry
- Construction
- Location
- Texas, United States
- Type
- Addon
Lithko Contracting, together with equity partners The Pritzker Organization and DNS Capital, acquired the assets of Capitol Concrete Contractors, Inc. on December 31, 2020. The asset purchase expands Lithko’s presence in the Austin / Central Texas market; Capitol is a regional concrete contractor with over 300 coworkers specializing in foundations, tilt-walls, slabs and site work.
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December 31, 2020
- Buyer
- Tecta America Corporation
- Target
- J Reynolds & Co., Inc.
- Industry
- Construction
- Location
- Texas, United States
- Type
- Addon
Tecta America Corporation, a portfolio company of Altas Partners, acquired J Reynolds & Co., Inc., a commercial roofing and waterproofing contractor based in Saginaw, Texas; the transaction closed on December 31, 2020. Kratos Capital advised J Reynolds on the sale as J Reynolds becomes part of Tecta’s national platform to expand its commercial roofing and waterproofing capabilities and geographic reach.
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December 15, 2020
- Buyer
- Groundworks, LLC, Cortec Group
- Target
- AquaGuard Foundation Solutions
- Industry
- Construction
- Location
- Georgia, United States
- Type
- Addon
Virginia Beach-based Groundworks, a Cortec Group-backed foundation services platform, acquired Atlanta-headquartered AquaGuard Foundation Solutions on December 10, 2020. The add-on strengthens Groundworks' presence in the Southeast and expands its residential waterproofing and foundation repair capabilities; terms were not disclosed.
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November 24, 2020
- Buyer
- GRITIT, Total Capital Partners
- Target
- NMC Group Ltd
- Industry
- Construction
- Location
- South Yorkshire, United Kingdom
- Type
- Addon
Total Capital Partners-backed GRITIT has acquired Doncaster-based surfacing and civil engineering business NMC Group Ltd. The add-on deal doubles the size of the GRITIT Group, creates a combined ~£50m external-infrastructure compliance and maintenance provider and is intended to expand capabilities and cross-sell services across GRITIT's nationwide client base.
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November 11, 2020
- Buyer
- DPIS Builder Services, Saw Mill Capital
- Target
- Ei Companies
- Industry
- Construction
- Location
- Nevada, United States
- Type
- Addon
DPIS Builder Services, a portfolio company of Saw Mill Capital, has acquired the Ei Companies, a Las Vegas-based provider of energy inspections and MEP design services. The deal expands DPIS' geographic footprint into the Western United States and creates a nationwide platform for engineering, inspection, testing and certification across the residential construction market.
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November 10, 2020
- Buyer
- Satterfield Paving, Halstatt Legacy Partners
- Target
- Triangle Traffic Painting
- Industry
- Construction
- Location
- North Carolina, United States
- Type
- Addon
Halstatt Legacy Partners-backed portfolio company Satterfield Paving has acquired Triangle Traffic Painting, a Durham, N.C.-based striping and pavement maintenance contractor. The add-on expands Satterfield's paving and maintenance capabilities in central North Carolina; terms were not disclosed and operations will be consolidated at Satterfield's Durham headquarters.
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October 29, 2020
- Buyer
- CoConstruct
- Target
- CBUSA
- Industry
- Construction
- Location
- United States
- Type
- Addon
CoConstruct, the Virginia-based SaaS provider for independent home builders and remodelers, has acquired CBUSA, the largest U.S. group purchasing organization for custom and semi-custom builders. The deal integrates CBUSA's group purchasing network into CoConstruct's construction management platform to lower hard costs for builders and expand CoConstruct's value proposition.
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October 13, 2020
- Buyer
- Southfield Capital, Milrose Consultants
- Target
- Permit Advisors
- Industry
- Construction
- Location
- California, United States
- Type
- Addon
Southfield Capital and its portfolio company Milrose Consultants announced a strategic partnership with Beverly Hills–based Permit Advisors, a permit expediting and consulting firm. The deal brings Permit Advisors into Milrose's national platform to expand permitting, code compliance and project management capabilities across new geographies and end markets.
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September 23, 2020
- Buyer
- Synergos
- Target
- Austin Electric Services LLC, Austin Concrete & Stone LLC, Austin HVAC LLC
- Industry
- Construction
- Location
- Arizona, United States
- Type
- Addon
Synergos acquired Austin Electric Services LLC, Austin Concrete & Stone LLC and Austin HVAC LLC (collectively "Austin Companies") to expand its family of residential construction trade partners in Arizona and further integrate electrical, concrete and HVAC capabilities for homebuilders. Leadership at the acquired companies remains unchanged and Ernst & Young Capital Advisors acted as exclusive financial advisor to Synergos' parent in the transaction.
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September 8, 2020
- Buyer
- Titan Home Improvement, York Capital Management (affiliate owner of Titan)
- Target
- Paradise Home Improvement
- Seller
- Joe Schuette
- Industry
- Construction
- Location
- South Carolina, United States
- Type
- Addon
Titan Home Improvement, a Fort Lauderdale-based platform owned by affiliates of York Capital Management, acquired Paradise Home Improvement, a South Carolina-based provider of replacement windows and doors, roofing, bathrooms and other home improvement services. The deal is an add-on to Titan's platform (its fourth acquisition since 2019) and expands Titan's footprint across North Carolina and South Carolina markets as it builds a national network of home improvement contractors.
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August 4, 2020
- Buyer
- Restoration Builders, Inc.
- Target
- JC Roofing and Gutters, LLC
- Seller
- Manuel Cervantes, Xochitl Cervantes
- Industry
- Construction
- Location
- Texas, United States
- Type
- Addon
Restoration Builders, Inc., a Scottsdale, Arizona-based insurance restoration consolidator, announced the acquisition of JC Roofing and Gutters, LLC, a Pflugerville, Texas-based gutter and exterior restoration services provider, on August 4, 2020. The deal expands Restoration Builders’ nationwide contractor network and adds JC Gutters’ ~5 locations and 50+ employees, strengthening its presence in the southern Texas roofing and insurance-restoration market.
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July 15, 2020
- Buyer
- Groundworks, Cortec Group, Succession Capital Partners
- Target
- Foundation Systems of Michigan
- Seller
- Bob Genord / Foundation Systems of Michigan shareholders
- Industry
- Construction
- Location
- Michigan, United States
- Type
- Addon
Virginia Beach-based Groundworks, a PE-backed national foundation services platform, acquired Foundation Systems of Michigan (FSM) on July 9, 2020. The add-on expands Groundworks' footprint into Michigan and the Midwest, bringing FSM's ~200+ employees and multi-branch operations onto the Groundworks platform backed by investors including Cortec Group and Succession Capital Partners.
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- Buyer
- Lynx Equity Limited
- Target
- DeBenedetto's Commercial Flooring LLC
- Industry
- Construction
- Location
- Oregon, United States
- Type
- Addon
Toronto-based private equity firm Lynx Equity Limited has acquired DeBenedetto's Commercial Flooring LLC, a Portland, Oregon-based full-service commercial flooring provider. The deal is an add-on to Lynx's existing flooring portfolio (including Floor Solutions) and is intended to capture market share in the Portland area while leveraging operational synergies and experienced personnel.
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- Buyer
- Groundworks, Succession Capital Partners, Cortec Group
- Target
- AFS Foundation & Waterproofing Specialists
- Seller
- Ben Bayless / Bayless family
- Industry
- Construction
- Location
- Alabama, United States
- Type
- Addon
Groundworks, a Virginia Beach–based national foundation services platform, acquired AFS Foundation & Waterproofing Specialists of Huntsville, Alabama, adding seven offices, more than 300 employees and over $65 million of annual revenue. The deal is an add-on to Groundworks’ PE-backed platform (supported by Succession Capital Partners and Cortec Group) and strengthens the company’s Southeast footprint while advancing its strategy to build a national, vertically integrated foundation services brand.
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May 19, 2020
- Buyer
- Diverzify
- Target
- ProFloors of Florida
- Industry
- Construction
- Location
- Florida, United States
- Type
- Addon
Diverzify has acquired ProFloors of Florida and entered a strategic partnership with Lane's Floor Coverings and Interiors, expanding Diverzify's national commercial flooring platform and adding floor installation and maintenance capabilities. The deal increases the Diverzify enterprise footprint (now representing 21 business service locations) and strengthens its shared-services, installation and maintenance offering for commercial customers.
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- Buyer
- Anser Advisory, RTC Partners
- Target
- H.R. Gray
- Seller
- The Haskell Company
- Industry
- Construction
- Location
- Ohio, United States
- Type
- Addon
Anser Advisory, a portfolio company of RTC Partners, has acquired H.R. Gray, a Columbus-based owner's representative and construction management firm with ~76 employees. The acquisition expands Anser’s geographic footprint in Ohio and Pennsylvania and adds H.R. Gray’s expertise in water and wastewater project delivery to Anser’s service offering.
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May 13, 2020
- Buyer
- Eberhart Capital, LLC
- Target
- The Equipment Source, LLC
- Seller
- Billy Martinez (founder)
- Industry
- Construction
- Location
- Florida, United States
- Type
- Addon
Eberhart Capital, a Scottsdale, Arizona-based private equity firm, has acquired The Equipment Source, LLC, a Naples, Florida-based tool and equipment rental company serving contractors and consumers. The Equipment Source will join Eberhart Capital sister company Contractor Sales & Service, and management transitioned from founder Billy Martinez to Steve Acquafresca as general manager; terms were not disclosed.
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March 3, 2020
- Buyer
- FHIA Holdings, LLC, Affiliates of York Capital Management
- Target
- Mad City Windows & Baths, LLC
- Industry
- Construction
- Location
- Wisconsin, United States
- Type
- Addon
FHIA Holdings, a York Capital-backed home remodeling platform, has acquired Mad City Windows & Baths, a Wisconsin-based residential remodeler. The add-on expands FHIA's geographic footprint into Wisconsin and strengthens its portfolio of home improvement services including windows, doors, siding, roofing, and kitchen/bath remodeling.
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February 19, 2020
- Buyer
- Ei Risk Management Corporation, Ei Companies
- Target
- ABCO Engineering Corporation
- Industry
- Construction
- Location
- Colorado, United States
- Type
- Addon
Ei Risk Management Corporation (a member of Ei Companies) has acquired ABCO Engineering Corporation, a Denver-area construction quality assurance firm. The deal expands EiRM's construction quality assurance capabilities and positions the combined business as a broader, integrated provider of QA and risk-management services to the construction and insurance industries.
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February 4, 2020
- Buyer
- Skyline Construction Enterprises, Inc.
- Target
- Unimark Construction Group LLC, Servicemark LLC
- Industry
- Construction
- Location
- Washington, United States
- Type
- Addon
Skyline Construction Enterprises, Inc. has acquired Seattle-based Unimark Construction Group LLC and its sister company Servicemark LLC as an add-on to its family of commercial real estate and construction companies. The deal expands Skyline’s geographic footprint and capabilities in Seattle while providing succession planning and organizational support for the acquired teams; Unimark and Servicemark will continue operating under their existing brands and teams.
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February 1, 2020
- Buyer
- Cumming, Tailwind Capital
- Target
- TowerEight
- Industry
- Construction
- Location
- England, United Kingdom
- Type
- Addon
Cumming Group, a Tailwind Capital-backed international construction consultancy, has acquired London-based TowerEight. The deal is an add-on acquisition that expands Cumming’s U.K. capabilities in cost and project management and strengthens its presence in key real estate sectors including hospitality, residential and student accommodation.
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- Buyer
- Rapid Fire Protection Holdings, Boyne Capital, Capitala Group
- Target
- Aegis Fire Systems, Inc.
- Industry
- Construction
- Location
- California, United States
- Type
- Addon
Rapid Fire Protection Holdings, a Boyne Capital portfolio company, has acquired Aegis Fire Systems, a Pleasanton, California-based provider of fire suppression design, installation and service. Capitala Group provided debt and equity financing to support the transaction as Rapid Fire expands its platform into the Northern California market.
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January 27, 2020
- Buyer
- AVS Verkehrssicherung
- Target
- Implenia SVA GmbH
- Seller
- Implenia Modernbau GmbH, Implenia AG
- Industry
- Construction
- Location
- Saarland, Germany
- Type
- Addon
AVS Verkehrssicherung, a Triton Fund IV portfolio company, has signed an agreement to acquire Implenia SVA GmbH (SVA), a Saarbrücken-based provider of construction site safety and road marking services. The acquisition extends AVS’s regional presence in Saarland, Rhineland-Palatinate and Luxembourg; terms were not disclosed.
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January 22, 2020
- Buyer
- Crestone Services Group, LLC, Diamond State Ventures, Banyan Investment Partners (Banyan Fund, L.P.), Asydan Capital Management, Post Road Group
- Target
- HDD Specialists, LLC, Underground Specialties, Inc.
- Seller
- Atkins family (seller of Underground Specialties, Inc.)
- Industry
- Construction
- Location
- Colorado, United States
- Type
- Addon
Crestone Services Group (a PE-backed utility services platform) acquired HDD Specialists, LLC and Underground Specialties, Inc. to expand its directional drilling and trenchless-utility capabilities ahead of increased 5G and utility-infrastructure work. The transactions fold Underground Specialties into Crestone's DrillTech division and retain HDDS leadership to grow crews and service offerings across power, gas and telecom markets.
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- Buyer
- Tecta America
- Target
- Wooster Roofing & Construction
- Seller
- Gary Nusbaum
- Industry
- Construction
- Location
- Ohio, United States
- Type
- Addon
Tecta America, the national commercial roofing leader, acquired Akron-based Wooster Roofing & Construction from owner Gary Nusbaum. The business will operate as JB Roofing, a Tecta America Company, and merge with Tecta's existing JB Roofing locations in Tiffin and Worthington to expand regional operations and service capacity.
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January 6, 2020
- Buyer
- Groundworks, Succession Capital Partners
- Target
- Foundation Repair of Western Colorado
- Seller
- Ted Munkres
- Industry
- Construction
- Location
- Colorado, United States
- Type
- Addon
Groundworks, a portfolio company of Succession Capital Partners, has acquired Foundation Repair of Western Colorado (FRWC), expanding Groundworks' footprint on Colorado's western slope and into Utah. FRWC's founder Ted Munkres will retire following the transition but will remain as a consultant; the business will continue operating under the Foundation Repair of Western Colorado name within Groundworks' platform.
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