Construction Acquisitions in Colorado

Huron Capital’s portfolio company Rampart Exterior Services has acquired Colorado Moisture Control, a Denver/Commerce City-based commercial roofing and waterproofing contractor founded in 1982. The add-on expands Rampart’s geographic footprint in Colorado and strengthens its commercial roofing and exterior restoration capabilities serving education, healthcare and industrial customers.

Milwaukee-based Roofed Right America (RRA), a PE-backed commercial roofing platform, has acquired B&M Roofing of Colorado, a Frederick, Colorado-based commercial reroofing and architectural metal roofing contractor. The transaction is an add-on to the RRA platform (backed by Great Range Capital) intended to accelerate organic growth and expand RRA's footprint and capabilities in Colorado and nearby states.

Trinity Hunt Partners has made a majority investment in DACS Asphalt & Concrete, a Denver-based provider of commercial asphalt paving, concrete, and parking lot maintenance services. The investment establishes Trinity Hunt's commercial paving services platform and will support growth through strategic add-on acquisitions and organic expansion across Colorado and nationwide.

Perimeter Solutions Group (PSG), a portfolio company of Bertram Capital, has acquired Strategic Fence & Wall, a leading permanent fence and gate installation business in Breckenridge, Colorado. Founder Jack Saville will remain with the company as PSG expands its integrated perimeter protection platform into the Colorado market; terms were not disclosed.

DPR Construction announced that GE Johnson Construction Company will operate under the DPR Construction brand, completing the integration following DPR's acquisition of GE Johnson in 2021. The move consolidates regional operations in the Mountain States, combining GE Johnson's local expertise with DPR's national resources while preserving GE Johnson's community commitments and team.

Huron Capital's portfolio company Sunland Asphalt has acquired Metro Pavers, Inc., a Denver-area asphalt maintenance and paving contractor founded in 1975. The add-on expands Sunland's presence in Colorado and strengthens its service capabilities across public and private end markets; Honigman LLP and Moss Adams LLP served as legal and financial diligence advisors, respectively.

Salt Creek Capital, a San Francisco Bay Area-based private equity firm, has acquired AVI Roofing, a Denver-based provider of residential and commercial roofing services across the Colorado Front Range. The transaction facilitates founder succession as AVI's founder retires and provides Salt Creek with a platform to support AVI's growth and geographic expansion in Colorado.

Eagle Merchant Partners has acquired a majority stake in Sam the Concrete Man, the largest residential concrete services franchisor in the U.S. Todd Stewart will remain CEO and an equity holder as Eagle partners with management to scale the franchise network, expand the company's footprint and explore additional service lines.

Apis & Heritage Capital Partners financed an employee-led buyout (ELBO) converting Denver-based general contractor Sky Blue Builders into a 100% employee-owned company, creating shared ownership for over 40 employees. The transaction was co-financed by VectraBank of Colorado and supported by the State of Colorado's cash collateral program; A&H will help steward growth while promoting wealth-building for workers of color.

Soil Nail Holdings, an investment platform affiliated with KKR, has acquired Ideal Fencing Corp. from U.S. Fence Solutions, a portfolio company of Building Industry Partners. Ideal, based in Erie, Colorado, is a fabricator and installer of highway and bridge guardrail, chain-link, and iron fencing and employs a team of just over 50 people.

SageHome, a PE-backed aging-in-place home remodeling platform supported by Cairngorm Capital, has acquired Colorado Living LLC to expand its one-day bath remodeling services into the Mountain region. The deal extends SageHome's footprint to 21 states and bolsters capacity as the group pursues both organic growth and further strategic acquisitions.

Roofing Corp of America (RCA), an Atlanta-based roofing holding company backed by Soundcore Capital Partners, has acquired Front Range Roofing Systems (FRRS), a commercial and industrial roofing contractor based in Greeley, Colorado. The deal gives RCA its first sizable foothold in the Mountain West (Colorado and southern Wyoming); FRRS's ownership team will remain in place and the company will operate as a stand-alone within RCA.

BMS CAT, a portfolio company of AEA Investors, has acquired Colorado Premier Restoration (CPR), a Denver-area disaster recovery and restoration provider headquartered in Englewood, Colorado. The acquisition expands BMS CAT's national footprint into Colorado and brings CPR's founders and team into the BMS family to support continued local operations and growth.

Spectra Contract Flooring, a Diverzify company, has acquired ReSource Colorado, a long-standing Denver-area commercial flooring contractor. The add-on expands Spectra/Diverzify's regional footprint in Colorado and brings ReSource Colorado's installation and product-care capabilities into the platform.

Seaside Equity Partners has launched BlueThread Services, a roofing and exterior services platform, and announced the platform's acquisition of Aspen Group, Ltd., a multi-family and commercial exterior reconstruction specialist. The add-on expands BlueThread's footprint into the Denver and Phoenix markets and brings Aspen's roofing, painting, siding and concrete capabilities into the platform alongside Peak View Roofing and Revelation Roofing.

Groundworks, a Cortec-backed national foundation and water management platform, acquired Peak Structural, a Denver-based foundation repair and waterproofing specialist. The deal consolidates Peak with Groundworks' other Colorado businesses to create a larger, unified presence across the state; terms were not disclosed.

urban-gro, Inc. signed a definitive agreement to acquire Emerald Construction Management, Inc., a 37-year-old Colorado-based design-build and construction management firm headquartered in Centennial, Colorado. The transaction consideration is $7.0 million (including up to $2.0 million contingent earnout), funded with $2.5 million cash and up to $4.5 million in equity; Emerald C.M. reported expected 2021 revenue of $26.5 million and adjusted EBITDA of $1.2 million, and the acquisition is expected to be immediately accretive in 2022. The deal adds in-house turn-key design-build capabilities to urban-gro's global indoor Controlled Environment Agriculture (CEA) service offerings.

Peak View Roofing has acquired Revelation Roofing of the Rockies as the first add-on in a multi-phase growth strategy to expand its geographic footprint and service portfolio. Peak View, a Seaside Equity Partners-backed roofing and exterior services platform based in Colorado Springs, will integrate Revelation's Steamboat Springs operations to better serve commercial, multi-family and residential clients in the region.

Nine Point Eight Capital has acquired DRC Construction Services, a Colorado-based provider of maintenance, repair and rehabilitation services for sewer, storm and wastewater utilities. SDR Ventures served as exclusive sell-side advisor; DRC is a second-generation woman-owned business led by President Brittany Carroll and will join Nine Point Eight Capital as it expands its lower-middle-market platform investments.

Johns Lyng Group (ASX: JLG) has signed a definitive agreement to acquire 100% of Reconstruction Holdings, Inc. (and its operating subsidiary Reconstruction Experts) from Linx Partners and other existing shareholders. Reconstruction Experts, headquartered in Arvada, Colorado, provides specialized property repair and restoration services to homeowner associations, multifamily property managers, and commercial property owners and employs over 250 professionals. The acquisition expands Johns Lyng’s capabilities and U.S. footprint in property repair and restoration services.

Caymus Equity Partners completed a platform investment in Colorado Barricade Co. in May 2021, partnering with Aberdeen Standard Investments, Reinsurance Group of America, Plexus Capital and company management. Denver-based Colorado Barricade is a full-service provider of roadway safety, pavement marking, traffic control and sign installation; the transaction provides capital to support geographic expansion, capability build-out and growth through potential add-on acquisitions.

Linx Partners is actively seeking add-on acquisitions for its portfolio company Reconstruction Experts, a Denver-area full-service reconstruction and restoration provider. The firm is targeting multifamily or commercial reconstruction businesses (preferring multi-trade vendors) with $2–$5 million EBITDA to expand capabilities or geographic reach outside the Northeast.

CUSITech, LLC has acquired Colorado Springs-based Peak Professional Contractors, a 30-year commercial and government contracting firm. The acquisition adds about 25 employees and brings integrated general contracting capabilities to CUSITech’s low-voltage, electrical and IT implementation services, expanding its national coverage with a focus in Colorado.

Aurora Capital Partners completed a growth investment in Premier Roofing, a Denver-based roofing service provider and vendor-managed network, to support the company's geographic expansion and acceleration of its multi-family segment. Premier operates six branches across Colorado, Nebraska, Missouri and Minnesota and will use the capital and Aurora's buy-and-build strategy to open additional locations and scale operations.

NewSpring Mezzanine participated in an investment to support a majority recapitalization of GLH Construction led by Jackson Partners. The capital will be used to hire additional employees and invest in sales and marketing as GLH, a Windsor, Colorado-based infrastructure contractor, pursues regional growth.

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.

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.

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.

Anser Advisory has acquired Inline Management, a Colorado-based construction management and owner's representative firm that specializes in K-12 school construction and capital improvement projects along the Colorado Front Range. The transaction expands Anser’s education market expertise and establishes a Denver-area office; Anser operates as a portfolio company of RTC Partners.

FirstService Corporation (TSX/NASDAQ: FSV) entered into a definitive agreement to acquire 95% of Global Restoration Holdings, LLC, the second-largest commercial and large-loss property restoration firm in North America. The deal expands FirstService’s scale and capabilities in mitigation, restoration and reconstruction services, and Global Restoration’s management will retain the remaining equity; the seller is Delos Capital.

Groundworks Companies, a Succession Capital Partners portfolio company, has acquired Rod Martin's Complete Basement Systems, a Denver-based foundation repair and basement waterproofing provider. The add-on deal — Groundworks' largest to date — is intended to serve as a strategic foothold for the platform's western expansion and the combined businesses will retain existing staff while leveraging Groundworks' operational infrastructure.

Noverra (Noverra Group of Companies) acquired Troy Forming Concrete, a Colorado-based concrete forming and foundation contractor, in a transaction that closed in summer 2018. The deal provided founder Troy Lynn with a phased transition and ongoing participation in future earnings while Noverra supported development of an internal successor (Noah Weiler) who later became President.