Construction Acquisitions in Minnesota

Kava Equity Partners, the direct private equity investment arm of the Southern Ute Indian Tribe Growth Fund, has acquired The Berg Group, a Minnesota-based specialty contractor focused on industrialized construction, prefabrication and modular systems. The Berg will retain its existing management team and operate with added resources from Kava and the Southern Ute Indian Tribe Growth Fund to expand nationwide capabilities in high-performance environments such as data centers, cleanrooms and advanced manufacturing facilities.

Ridgeline Roofing & Restoration, a Bertram Capital-backed roofing platform, has acquired Bold North Roofing and Contracting, a roofing and exterior services provider serving the Twin Cities and western Wisconsin. The add-on expands Ridgeline's Midwest footprint; founders Erik McLaughlin and Ryan Emmerich will continue to lead Bold North and are reinvesting in the platform. Financial terms were not disclosed.

Blue Point Capital Partners has completed a recapitalization of Restoration Systems (RSI), a Minneapolis-based provider of facade, masonry and concrete repair and waterproofing services. RSI founder/owner Blake Dronen will remain in his leadership role as the partnership provides capital to support organic growth, geographic expansion across the Midwest and add-on acquisitions.

Roofing Services Solutions (RSS), a portfolio company of Dunes Point Capital, LP, has acquired Midwest Roofing, Siding & Windows, LLC, a Blaine, Minnesota-based provider of re-roofing and building exterior services. Midwest operates one location and employs approximately 15 people; RSS is a multi-location roofing platform with about 12 locations and ~200 employees.

Horwitz, a Midwest mechanical, electrical, and plumbing (MEP) contractor backed by Svoboda Capital Partners, has acquired Preferred Electric, a Twin Cities–based electrical contractor founded in 2008. Founder Clint Kruger will join Horwitz as general manager, and the acquisition expands Horwitz's electrical capabilities to better serve commercial, healthcare, and industrial clients.

Aligned Exteriors Group (AEG), a residential exteriors platform backed by River Sea Network and Pearl Street Capital Partners, announced a partnership to acquire Trinity Exteriors, a Minneapolis-region residential roofing services company. Trinity owner Ted Swanson will remain in his current role to manage day-to-day operations as the business joins AEG's Midwest portfolio.

Aligned Exteriors Group (AEG), a residential exteriors platform backed by River Sea Network and Pearl Street Capital Partners, has partnered with Perfect Exteriors of Minnesota to expand AEG's footprint into the greater Minneapolis market. Tyler Arrell, owner of Perfect Exteriors, will remain in his current role to manage day-to-day operations. The deal adds a values-driven residential roofing and exterior services provider to AEG's Midwest portfolio.

Lake Street Capital Partners completed a majority recapitalization and partnership with Concrete Science Holdings, a Minneapolis-based concrete installation and coatings services platform. Concurrently, Concrete Science completed an add-on acquisition of MD Concrete to expand its geographic reach and service capabilities.

Accuserve Solutions, a managed-repair and property restoration company, acquired Minnesota-based Aspen Exteriors, Inc., a storm damage restoration and exterior contracting business. The transaction (closed June 14, 2024) expands Accuserve's restoration capabilities and geographic footprint; financial terms were not disclosed.

Percheron Capital has acquired SafeBasements, a Minnesota-based foundation repair and basement waterproofing services company, as the first investment in a new platform focused on foundation repair and waterproofing. Percheron named industry veteran Deb Dulsky as CEO to lead growth and expansion across the Midwest, leveraging SafeBasements' vertically integrated products and experienced team.

Great Day Improvements, LLC has acquired Minnesota-based Your Home Improvement Company, a full-service home improvement business headquartered in St. Cloud, MN. The acquisition expands Great Day's footprint across the northern United States and strengthens its bathroom remodeling and full-service offerings; Steve Little will remain leading Your Home Improvement Company's executive team and Angle Advisors served as the seller's exclusive advisor.

Apple Roofing, a Plano-based roofing platform backed by Gauge Capital, has acquired Plymouth, Minnesota–based NMC Exteriors. The add-on expands Apple Roofing's footprint and capabilities in the Upper Midwest, adding residential and commercial insurance restoration services and the NMC leadership team.

Capital Construction Holdings, a portfolio company of O2 Investment Partners, has partnered with Options Exteriors, a residential roof replacement and repair provider headquartered in Eden Prairie, Minnesota. The deal is an add-on to the Capital Construction Holdings platform intended to expand the platform's Midwest footprint and strengthen its residential roofing capabilities and sales engine.

Soundcore Capital Partners formed a commercial paving platform and acquired ACI Asphalt & Concrete, Inc., a Minneapolis-area asphalt and concrete contractor. Northstar Capital provided flexible capital to help finance the transaction (with reported co-investor participation from Mars Equity Partners).

VESTA Modular, a Kinderhook Industries portfolio company, acquired modular office trailer assets from Hilltop Trailer Sales' Modular Office Trailers division in Minnesota to expand its nationwide fleet for sale and lease. The transaction adds inventory and capabilities to VESTA's modular space leasing and installation offering and supports the company's fleet-investment growth strategy.

O2 Investment Partners has partnered with Capital Construction, LLC and CEO Andy Oakes in a platform investment to support the company's growth; terms were not disclosed. Capital Construction, headquartered in Burnsville, Minnesota, provides roof replacement and exterior restoration services to single-family and multi-family residential customers and will work with O2 to scale operations and pursue strategic M&A and geographic expansion.

Bessemer Investors, a New York-based investment firm, has acquired Legacy Restoration, a Plymouth, Minnesota-headquartered provider of exterior restoration and remodeling services. The deal provides liquidity to selling shareholders and growth capital to support Legacy's organic expansion and M&A strategy while founder and CEO Scott Mullins and management remain in place; financial terms were not disclosed.

Mad City Windows & Baths, a subsidiary of Titan Home Improvement, acquired Minnesota-based home improvement company New Windows for America from owners Jim and Rhonda Steffes. The acquisition, completed March 12, 2021, expands Mad City's footprint into the Minneapolis market as part of its broader Midwest growth strategy.

Groundworks Companies, a portfolio company of Succession Capital Partners, has acquired Innovative Basement Systems (rebranded as Innovative Basement Authority). The acquisition brings Innovative's ~80 employees and regional footprint in Minnesota, North Dakota and eastern Montana into Groundworks' national foundation services platform as an add-on to accelerate growth and service expansion.

Viking Automatic Sprinkler Company, part of the APi Group family, announced it has welcomed Olsen Fire and Total Life Security into the Viking/APi Group family effective September 1, 2016. The Minneapolis-based businesses provide fire sprinkler design, installation and fire alarm monitoring/services and will expand Viking’s customer base and service capabilities in the Twin Cities market as an add-on to Viking/APi’s platform.