Cortec Group Invests Growth Capital in Groundworks
January 21, 2020
Cortec Group, through its affiliate Cortec Fund VII, completed a growth recapitalization of Groundworks, partnering with founder Matt Malone and the company’s management team to support accelerated organic growth and acquisitive expansion. Groundworks, a Virginia Beach–based vertically integrated foundation services platform operating under multiple local brands across 22 states, will use the capital to continue consolidating the foundation services industry.
- Buyers
- Cortec Group (Cortec Fund VII, L.P.), Matt Malone and Groundworks management team
- Targets
- Groundworks, LLC
- Industry
- Construction
- Location
- Virginia, United States
- Transaction Type
- Growth capital
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KKR Makes Strategic Growth Investment in Groundworks; Cortec Remains Shareholder
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