Recent Construction Acquisitions in Tennessee
Acquisition Volume in Construction in Tennessee by Year
Last 5 years
Tennessee construction acquisitions from 2021 through 2025 show a consistent focus on expanding service footprints and strengthening specialty capabilities—especially in residential exteriors, property restoration, and site-related infrastructure work.
Across recent transactions, buyers such as Summit Park, Construction Partners, Inc., Saw Mill Capital, and Great Range Capital pursue add-ons and platform growth. Deals range from roofing and exteriors expansion to foundation repair, basement waterproofing, crane rental/rigging, asphalt and pavement preservation, and materials/paving footprint growth in the Memphis area.
A recurring pattern is pairing local operating businesses with broader, scaled platforms—whether to deepen insurance-claim restoration expertise, broaden multi-family installation reach, or add production assets like asphalt plants and sand & gravel resources.
What Stands Out
- Specialty construction segments show up repeatedly: roofing & exteriors, foundation repair & waterproofing, crane rental/rigging, and pavement/asphalt services.
- Recurring buyers lean toward platform-building and add-on strategies, including Summit Park, Saw Mill Capital, Brightstar Capital Partners, Great Range Capital, and RAFTR Roofing + Exteriors (RAFTRx).
- Geographic expansion is a headline theme, with multiple deals explicitly aimed at growing Tennessee coverage and broader Southern/Southeastern reach.
- Some transactions also expand into production or materials capacity—e.g., asphalt plants and sand & gravel mines—alongside field services.
| Deal focus area | Examples from Tennessee transactions |
|---|---|
| Roofing & exteriors | RAFTR Roofing + Exteriors (RAFTRx) acquisition; Legacy Restoration merger |
| Foundations & waterproofing | Vanterra Foundation Solutions add-on; United Structural Systems add-on |
| Asphalt/pavement services | Construction Partners, Inc. acquisition of PRI operations |
| Materials & paving footprint | Granite Construction Incorporated acquisitions |
| Flooring for multi-family | Rasa Floors acquisition; Great Range Capital acquisition |
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- Buyer
- RAFTR Roofing + Exteriors (RAFTRx), Saw Mill Capital
- Target
- Gold Medal Roofing
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
RAFTR Roofing + Exteriors (RAFTRx), a Saw Mill Capital–backed roofing and exteriors platform, has acquired Gold Medal Roofing. The add-on expands RAFTRx's footprint into additional states (including Pennsylvania, Indiana and Arkansas) and strengthens its insurance-claim residential and commercial roofing capabilities; Gold Medal is headquartered in Knoxville, Tennessee and has supported over $65 million in insurance restoration claims.
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May 16, 2025
- Buyer
- Capital Extension Crane & Lift
- Target
- Clark Crane
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
Capital Extension Crane & Lift has acquired Clark Crane, a Nashville-based crane rental and rigging company, marking Capital Extension’s eighth acquisition. Clark Crane — which operates a fleet of over 50 cranes and will retain its existing management — expands Capital Extension’s footprint in Tennessee and the Southeastern United States.
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May 1, 2025
- Buyer
- Construction Partners, Inc.
- Target
- PRI of East Tennessee, Inc., Pavement Restorations, Inc.
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Construction Partners, Inc. (CPI) has acquired PRI of East Tennessee, Inc. (headquartered in Knoxville, TN) and Pavement Restorations, Inc. (headquartered in Milan, TN), collectively referred to as PRI. The acquisition adds a hot‑mix asphalt plant, specialized pavement preservation capabilities and nearly 300 employees, expanding CPI’s Tennessee footprint and service capabilities.
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January 8, 2025
- Buyer
- Vanterra Foundation Solutions, Percheron Capital
- Target
- '58 Foundations & Waterproofing
- Seller
- Sier Capital Partners
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
Vanterra Foundation Solutions, a new national platform backed by private equity firm Percheron Capital, has acquired '58 Foundations & Waterproofing from an affiliate of Sier Capital Partners for an undisclosed amount. The deal brings the Knoxville-based foundation repair and basement waterproofing business into Vanterra's platform as an add-on to accelerate geographic expansion and operational scale.
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August 7, 2024
- Buyer
- Brightstar Capital Partners
- Target
- Best Choice Roofing
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Brightstar Capital Partners, a middle-market private equity firm, has acquired Best Choice Roofing, a national residential roofing provider with more than 85 locations across 24 states and over 60,000 customers. Brightstar said the investment will support continued geographic expansion, scale operations, and enhance systems and infrastructure while partnering with founder and CEO Wayne Holloway.
-
- Buyer
- United Structural Systems, Summit Park
- Target
- Basement and Crawlspace Solutions
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
United Structural Systems (a Summit Park portfolio company) completed a recapitalization and add-on acquisition of Basement and Crawlspace Solutions (BACS), a Chattanooga-based foundation repair and waterproofing services provider. The transaction was completed in partnership with BACS co-owners Josh Coley and Neil Scott and expands USS's residential services footprint in the Southeast.
-
- Buyer
- Legacy Restoration, Bessemer Investors LLC
- Target
- Southern Roofing and Renovations
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
Legacy Restoration, a portfolio company of Bessemer Investors, has merged with Southern Roofing and Renovations, a Memphis-based exterior restoration and remodeling provider with 15 regional offices. The deal expands Legacy's geographic footprint across the South and Midwest, creating one of the largest residential roofing platforms; debt financing was provided by Tree Line Capital Partners, Brightwood Capital, and LBC Credit Partners.
-
- Buyer
- Granite Construction Incorporated
- Target
- Lehman-Roberts Company, Memphis Stone & Gravel Company
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Granite Construction Incorporated (NYSE: GVA) has acquired Lehman-Roberts Company and Memphis Stone & Gravel Company, expanding its materials and paving footprint in the Memphis metropolitan market. The deal adds asphalt plants and sand & gravel mines (with substantial reserves) to Granite’s operations and will be financed with a $150 million term loan plus revolver and cash on hand; the acquired companies’ leadership will remain in place.
-
- Buyer
- First Onsite Property Restoration, FirstService Corporation
- Target
- Case Restoration, Inc.
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
First Onsite Property Restoration has acquired Case Restoration, a Nashville-based full-service mitigation and general contracting firm. The deal expands First Onsite's mitigation, general contracting and large-loss capabilities in the Mid-Tennessee region and extends its geographic footprint.
-
July 25, 2023
- Buyer
- Rasa Floors, Saw Mill Capital
- Target
- Floors First Nashville
- Seller
- Brandon Williams, Maria Williams
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
Rasa Floors, a portfolio company of Saw Mill Capital, has acquired Floors First Nashville to expand its multi-family flooring installation footprint into the Nashville market. The acquisition adds a single Nashville branch and local customer relationships to Rasa's network, supporting geographic expansion and accelerated growth across Tennessee and adjacent MSAs.
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March 22, 2023
- Buyer
- Great Range Capital
- Target
- America's Best Carpet & Tile
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Kansas City-based private equity firm Great Range Capital has acquired America's Best Carpet & Tile (ABCT), a Memphis-based full-service flooring company. The partnership will support ABCT's continued growth and geographic expansion while Jeff Cantor remains as owner and CEO.
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February 9, 2023
- Buyer
- Summit Park
- Target
- United Structural Systems, Titan Products
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Recapitalization
Summit Park has led a majority recapitalization of United Structural Systems (USS), a Nashville-based provider of foundation repair, crawlspace repair, and basement waterproofing services; the transaction also includes USS sister company Titan Products, a manufacturer and distributor of foundation repair products. Summit Park will partner with USS management to accelerate growth and expand the company's geographic footprint organically and via acquisitions while providing liquidity to existing owners.
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November 21, 2022
- Buyer
- Construction Partners, Inc.
- Target
- Three hot‑mix asphalt plants and related construction operations (assets acquired from Blue Water Industries)
- Seller
- Blue Water Industries
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
Construction Partners, Inc. (CPI) acquired three hot‑mix asphalt (HMA) plants and related construction operations in the Nashville, Tennessee metro area from Blue Water Industries. The assets will be integrated as bolt‑on additions to CPI’s Alabama‑based platform Wiregrass Construction Company; the transaction also included a cash consideration and the transfer of CPI’s Daurity Springs Quarry to Blue Water Industries with aggregate sourcing rights retained by CPI.
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- Buyer
- Eagle Merchant Partners
- Target
- Eskola Roofing & Waterproofing
- Seller
- Jon Eskola, Ben Eskola
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Atlanta-based private equity firm Eagle Merchant Partners completed a majority equity investment in Eskola Roofing & Waterproofing, a commercial roofing and waterproofing contractor with locations in Tennessee and Kentucky. Founders Jon and Ben Eskola will remain in leadership roles and the partnership will support Eskola's expansion of services across the Southeast; Carl Franseen was named CFO as part of the transaction.
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December 3, 2021
- Buyer
- Limbach Holdings, Inc.
- Target
- Jake Marshall, LLC
- Seller
- Owners of Jake Marshall, LLC
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Buyout
Limbach Holdings, Inc. (Nasdaq: LMB) completed the acquisition of Chattanooga-based specialty mechanical contractor Jake Marshall, LLC for an enterprise value of $20 million in an all-cash transaction. Jake Marshall, which generated average revenues of more than $45 million and approximately $4.5 million in EBITDA (2014–2020), expands Limbach’s owner-direct industrial and institutional capabilities and southeastern U.S. presence.
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April 19, 2021
- Buyer
- West Shore Home
- Target
- Hullco, Inc.
- Seller
- Matt Hullander (President and Owner, Hullco, Inc.)
- Industry
- Construction
- Location
- Tennessee, United States
- Type
- Addon
West Shore Home has acquired Hullco, Inc., a Tennessee-based home remodeling company, expanding West Shore's footprint into Chattanooga and Knoxville. Hullco recorded approximately $20 million in sales in 2020; the seller is Hullco's president and owner, Matt Hullander. The deal is an add-on to West Shore Home's roll-up of regional home-improvement businesses.
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Frequently Asked Questions
Which Tennessee construction subsectors appear most often in these acquisitions?
Common themes include roofing & exteriors, foundation repair & waterproofing, crane rental/rigging, asphalt/pavement preservation, and flooring installations (including multi-family).
What kinds of buyers lead many of the deals in Tennessee?
Several recurring buyers are private equity and backed platform operators, including Summit Park, Saw Mill Capital, Brightstar Capital Partners, Great Range Capital, and platform operators like Vanterra Foundation Solutions and RAFTR Roofing + Exteriors (RAFTRx).
Do the transactions typically aim to grow geographically?
Yes. Many deal summaries describe expanding coverage in Tennessee and/or broader Southeastern regions, often through add-ons to existing platforms.
Are there acquisitions that expand into materials or production assets, not just services?
Yes. For example, Construction Partners, Inc. added a hot-mix asphalt plant through an acquisition, and Granite Construction Incorporated added asphalt plants and sand & gravel mines in the Memphis metropolitan market.