Construction Acquisitions in North Carolina

Ridgeline Roofing & Restoration, a Bertram Capital portfolio company, has acquired Kenneth Daniel Roofing, a residential roofing contractor based in Littleton, North Carolina. The add-on deal (terms undisclosed) expands Ridgeline's presence in North Carolina and the neighboring southern Virginia market and is intended to accelerate growth for the platform.

Watchtower Capital has acquired Fence Builders, Inc. and Green Hill Fence Company to create an integrated residential and commercial fence, gate and access control platform serving the U.S. Southeast. Watchtower led the platform investment with co-investments and financing from Plexus Capital and Aldine Capital Partners; founders Steve Shelton and Manning Garrett remain in leadership roles and retain ownership stakes, and Nick Coder was named President.

Lake Street Capital Partners has launched HighPoint Exterior Home Services and completed a majority investment in Choufani & Bailey Roofing & Restoration, a Wilmington, North Carolina-based provider of residential roofing, gutter, siding, and window services. The investment will serve as the platform launch for HighPoint and support Choufani & Bailey's geographic expansion into markets such as Raleigh and broader East Coast growth.

Ridgeline Roofing & Restoration, a portfolio company of Bertram Capital, has acquired Signature Exteriors, a Charlotte, North Carolina-based roofing contractor. Terms were not disclosed; Ridgeline said the deal will expand its presence in the Southeast and accelerate Signature's growth through increased marketing, sales and operational support.

New Dimensions in Pavement Markings, a Western North Carolina asphalt maintenance and pavement marking services provider founded in 1992, has been acquired by an unnamed strategic buyer. The transaction, facilitated by Viking Mergers & Acquisitions, was completed to allow New Dimensions to join a larger, diversified platform and expand its service offerings and geographic reach.

Progress Equity Partners has completed a recapitalization of Salisbury Moore, a Raleigh, North Carolina-based hotel renovation and remodeling company. Farragut Capital Partners, NewSpring Mezzanine, and Salem Investment Partners invested subordinated debt and equity to support the recapitalization and enable Salisbury Moore’s continued growth; existing management will remain in place.

Hillandale Advisors, a Charlotte-based lower-middle-market investment firm, has acquired Horizon Roofing & Restoration, a residential and commercial roofing and restoration company headquartered in Charlotte, North Carolina. The acquisition closed in mid‑July as Hillandale continues to build a platform of services and trades businesses across the Carolinas and Southeast.

Construction Partners, Inc. (NASDAQ: ROAD) has acquired Hudson Paving, Inc., a hot‑mix asphalt plant operator headquartered in Rockingham, North Carolina. The deal is a bolt‑on add‑on for CPI's North Carolina platform, Fred Smith Company, and expands CPI's capacity to serve the Pinehurst and Southern Pines/Sandhills region with additional plant, crews and equipment.

Funds managed by Greenbriar Equity Group acquired Renuity, a tech-enabled home services platform, from York Capital Management’s private equity group and other minority investors. The investment will support Renuity’s nationwide expansion and investments in technology, marketing, data & analytics to accelerate growth and enhance customer experience; financial terms were not disclosed.

Roanoke-based Branch Group has acquired Burnsville, North Carolina-based Young & McQueen, a 37-year-old heavy civil and highway contracting firm. The deal closed May 31 and positions Branch to expand into western North Carolina; Young & McQueen will operate as "Young & McQueen, a Branch Company" while continuing current contracts as the founders retire.

FORVIS, LLP has signed an asset acquisition agreement to acquire Contech360, LLC and integrate its leaders and capabilities into FORVIS's Construction & Real Estate practice. The deal will bring Contech360's construction technology consulting team and Trimble partnership expertise into FORVIS, strengthening the firm's construction technology solutions offering; the transaction is expected to close in early fall.

Tower Engineering Professionals (TEP) has acquired Piedmont Utility Group, a Mooresboro, North Carolina-based fiber optic and utility construction services provider. The acquisition expands TEP's telecom and utility construction capabilities and strengthens its position as a large turnkey engineering and construction operator across North America.

Stanley Martin Holdings, the Daiwa House-backed homebuilding platform, has acquired Charlotte-area land acquisition and development firm Prestige Corporate Development and site-construction contractor Prestige Site Works. The deal adds in-house land development, entitlement and sitework capabilities and secures a portfolio of roughly 8,050 lots, supporting Stanley Martin's growth plans in the Southeast.

Chaney Enterprises, a construction material supplier based in Gambrills, Maryland, has acquired Concrete Solutions, LLC, a ready-mix concrete operator with plants in Raeford and Goldston, North Carolina. The purchase expands Chaney's footprint into central North Carolina and brings its planned total of three North Carolina ready-mix locations (Raeford, Goldston and an expected Powells Point site).

U.S. Waterproofing, a Rotunda Capital Partners portfolio company, has acquired Crawl Space Brothers, a Charlotte-based provider of residential crawl space encapsulation, repair, and basement waterproofing services. The add-on expands U.S. Waterproofing's geographic footprint into the Southeastern U.S. and will leverage U.S. Waterproofing's marketing, sales training and installation expertise to accelerate growth and pursue additional complementary acquisitions.

High Street Capital has made a platform investment in Pinnacle Contracting Services, a concrete foundation and finishing services provider headquartered in Kernersville, North Carolina. The firm will partner with Pinnacle's founder and management to execute a growth plan focused on expanding installation capacity, building HR depth, entering new geographies, and adding service offerings (including multi-family work). This marks High Street's eighth platform investment for Fund V.

Construction Partners, Inc. (CPI) has acquired Ferebee Corporation, a Charlotte-based full-service hot‑mix asphalt and paving company with three hot‑mix asphalt plants in the greater Charlotte/Rock Hill area. The acquisition is a platform move that expands CPI's geographic footprint into western North Carolina and the Charlotte metro, and is expected to be accretive to earnings while maintaining the company's 2022 fiscal year-end leverage ratio.

Concrete Pumping Holdings, Inc. (Nasdaq: BBCP) completed the all-cash acquisition of Coastal Carolina Pumping, Inc., the largest concrete pumping service provider in the Carolinas, adding 89 units of operating equipment and expanding CPH’s footprint in North Carolina, South Carolina and Central Florida. The transaction was funded from existing debt facilities and operational free cash flow and is intended to increase service capacity, expand fleet availability, and provide Coastal customers access to CPH’s Eco‑Pan concrete waste management services.

Blackmon Mooring & BMS CAT (BMS CAT) has acquired Highland Construction, adding Highland’s three eastern North Carolina locations (Fayetteville, Raleigh and Wilmington) to BMS CAT’s existing North Carolina footprint. The acquisition expands BMS CAT’s restoration and reconstruction capabilities in the state and brings Highland’s residential and commercial mitigation and reconstruction expertise into the combined platform.

Construction Partners, Inc. (NASDAQ: ROAD) has acquired Southern Asphalt, Inc., an asphalt paving contractor based in Burgaw, North Carolina, expanding the company's footprint into the Wilmington, NC metro area. The acquisition adds a local paving team and capabilities to Construction Partners' civil infrastructure platform in the southeastern United States.

Highland Roofing Company and related sheet-metal business Coastal Fabrication, Inc., both headquartered in Wilmington, North Carolina, were sold to private investors in a transaction that closed on December 10, 2021. The buyer group was undisclosed; the seller engaged Generational Equity as M&A advisor to execute the sale to investors focused on maintaining employee culture and continuity.

Construction Partners, Inc. (NASDAQ: ROAD) acquired C.K. Earnhardt & Son, Incorporated, a North Carolina-based asphalt contractor, adding a hot-mix asphalt plant, personnel and equipment in the greater Charlotte metro area. The acquisition expands Construction Partners' geographic footprint within North Carolina to support participation in ongoing development and public infrastructure projects.

Construction Partners, Inc. (NASDAQ: ROAD) has acquired PLT Construction Company, Inc., a grading and sitework contractor based in Wilson, North Carolina. The acquisition expands CPI’s vertical integration and construction capabilities in eastern North Carolina by adding experienced crews, construction managers and equipment to support public roadway and private sitework projects.

Crescendo Capital Partners, a private equity firm, acquired Blair Duron Restoration, LLC, a specialty flooring and concrete repair contractor headquartered in Raleigh, North Carolina; the deal closed on March 12, 2021. Midwest Mezzanine provided subordinated debt to support the transaction, and Generational Equity advised Blair Duron as the sellers (the company's owners) exited.

Virginia Beach-based Groundworks, a Cortec Group-backed foundation services platform, acquired Dry Pro Foundation & Crawlspace Specialists, a Charlotte, North Carolina-based waterproofing and foundation repair company. Dry Pro, founded in 1998 with more than 150 employees, strengthens Groundworks' presence in the Carolinas and is the fourth acquisition completed by Groundworks since Cortec's 2020 growth investment.

Construction Partners, Inc. (NASDAQ: ROAD) has acquired Gelder & Associates, Inc., an asphalt and paving contractor that operates a hot-mix asphalt plant in Raleigh, North Carolina. The acquisition adds a local hot-mix plant and paving capability to Construction Partners' southeastern operations, strengthening its ability to serve customers in the Raleigh metro area and capture synergies with nearby operations.

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.

Construction Partners, Inc. (NASDAQ: ROAD) has acquired Rose Brothers Paving Company, Inc., an asphalt and paving contractor based in Ahoskie, North Carolina. The transaction adds six hot‑mix asphalt plants in eastern North Carolina, expanding Construction Partners' footprint and market access in the state while retaining Rose Brothers' local leadership under Tim Rose.

Dream Finders Homes has acquired Fayetteville, North Carolina-based homebuilder H&H Homes. The deal expands Dream Finders' footprint into North Carolina and preserves the H&H brand while retaining key leadership to run the Carolinas division.