Construction Acquisitions in Michigan

Alloy Roofing, an Atlanta-based roofing platform, has partnered with Tittle Brothers Construction, a roofing and exteriors company in Brownstown Township, Michigan. The deal brings Tittle Brothers into Alloy’s platform to expand Alloy’s Midwest presence and provide Tittle Brothers with additional resources to support growth and invest in its team.

Shelby Township-based DiPonio Contracting, a portfolio company of Evolution Strategy Partners, has acquired Lodestar Construction of Grand Rapids, Michigan. The add-on expands DiPonio’s presence across the lower peninsula and strengthens its utilities maintenance and infrastructure construction capabilities for municipal and public-sector customers.

Mangrove Equity Partners has made a minority/growth investment in A&R Sealcoating, Inc., a Southeast Michigan provider of pavement repair and maintenance services. Founder Rocky Ricelli remains a significant owner and will continue to lead the business as Mangrove supports growth, organizational buildout and pursuit of add-on acquisitions.

Aecon Utilities Group Inc., a subsidiary of Aecon Group Inc., has acquired a majority interest in Xtreme Powerline Construction for a base purchase price of approximately US$73 million. The acquisition expands Aecon Utilities' U.S. electrical distribution capabilities and footprint — Xtreme, founded in 2007 and headquartered in Port Huron, Michigan, has ~300 employees and long-standing relationships with utility clients including DTE Energy.

Lee Industrial Contracting of Pontiac, Michigan has acquired Johnston Contracting, Inc., a heavy civil contractor based in Midland, Michigan. Calder Capital advised Johnston Contracting on the undisclosed-term sale, which expands Lee Contracting’s service capabilities and geographic presence in Mid-Michigan.

U.S. Waterproofing, a portfolio company of Rotunda Capital Partners, has acquired Foundation Solutions 360 (FS360), a Fraser, Michigan-based residential foundation repair and basement waterproofing services provider. The deal expands U.S. Waterproofing's Midwest footprint and service capabilities; FS360 founder Joe Marth will remain overseeing operations as the combined platform pursues further growth and add-on acquisitions.

CertaSite, a commercial fire protection and life safety company headquartered in Indianapolis, has acquired Eastman Fire Protection of Troy, Michigan. The acquisition — CertaSite's eighth in Michigan — expands its local footprint and capabilities; all Eastman employees were retained and the business will operate within the CertaSite platform.

Evolution Strategy Partners completed a recapitalization of DiPonio Contracting to support the company's growth and continued focus on water and underground utility infrastructure in Michigan. Terms were not disclosed; Evolution originally partnered with founder Frank DiPonio and his team the prior year and will continue working with management to expand the business.

McGrath RentCorp acquired VESTA Modular from Kinderhook Industries for a cash purchase price of $400 million, expanding McGrath's modular leasing and construction capabilities and geographic footprint. Concurrently, McGrath sold Adler Tank Rentals to Ironclad Environmental Solutions (a Kinderhook portfolio company) for $265 million as part of a simultaneous transaction sequence that realigned assets between the parties.

Stonehenge Partners’ pavement maintenance platform True North Asphalt has acquired Huyser Asphalt Paving and Sealcoating, a Grand Rapids, Michigan-based asphalt and concrete contractor. The deal expands True North’s footprint across Michigan (including Detroit, Grand Rapids and Lansing) and keeps Huyser’s Founder & President Jason Huyser in place to lead operations in western Michigan.

Stonehenge Partners’ pavement maintenance platform, True North Asphalt, acquired Orion Construction Company as an add‑on to expand its paving maintenance and parking lot services footprint in Michigan. The deal strengthens True North’s service offering across commercial, municipal and residential end markets as the platform continues to pursue further add‑on acquisitions.

Beaudoin Electrical Construction, a Sodus, Michigan electrical contractor founded in 1972, was sold to private investors in a transaction that closed April 4, 2022. Generational Equity advised the deal; owner Jim Gunn established an ESOP as part of the transaction to provide employee ownership and retirement benefits.

Power VAC, LLC of Novi, Michigan acquired Strain Electric Company, a 75+-year-old electrical and utility contractor headquartered in Wyoming, Michigan. The transaction is an add-on to Power VAC’s PE-backed platform and was supported by Peninsula Capital Partners and Pillsman Partners to expand Power VAC’s geographic footprint and service offerings into Western Michigan.

Stonehenge Partners led a recapitalization of True North Asphalt, a Madison Heights, Michigan provider of pavement maintenance and repair services. True North President Nick Whitehurst will remain in leadership with significant equity ownership as Stonehenge joins the board and provides capital to support the company's acquisition-driven growth strategy and geographic expansion across Michigan and surrounding states.

Capital Construction, a portfolio company of O2 Investment Partners, has partnered with and acquired Irish Roofing & Exteriors, a Grand Rapids-based roofing and exterior restoration company. The add-on expands Capital's Midwest footprint and provides additional organic and inorganic growth opportunities for the platform.

Concrete & Materials Placement (CMP Pumping), a Pineville, North Carolina-based concrete pumping services provider, has acquired Michigan-based Febcon Concrete Pumping. The acquisition expands CMP’s geographic footprint across the Southeast and adds Febcon’s concrete pumps and skilled operators (including operations across Louisiana, Tennessee and the Carolinas) to CMP’s fleet, intended to deepen capabilities and service coverage.

SRI Holdings LLC, a Columbus-based installer of insulation and other building products, has acquired Accurate Insulation, an installer operating in the Detroit, Michigan market. Accurate will continue to operate under its name with owners Jim Prokes and Dave Roeder remaining with the business and will be integrated into SRI's systems as part of SRI's ongoing roll-up of regional contractors.

Kinderhook Industries partnered with VESTA management to recapitalize VESTA Housing Solutions, acquiring the company from private equity investor Balmoral Funds. VESTA, headquartered in Southfield, Michigan, operates modular space leasing and modular construction services with an owned fleet of several thousand units and multiple U.S. branch locations to support growth and expansion.

Scottsdale-based private equity firm Eberhart Capital acquired M. J. Van Damme Inc., a Gwinn, Michigan construction and mine-site services company, in a deal reported at $20-$50 million. The acquisition expands Eberhart Capital's construction and regional capabilities, adding trucking, quarry and land-reclamation expertise and a 130-employee operating base in the Upper Midwest.

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.