Groundworks Acquires Foundation Systems of Michigan

Groundworks Acquires Foundation Support Specialists (FSS)

July 18, 2022

Construction

Groundworks, a PE-backed national foundation and water management solutions platform, has acquired Foundation Support Specialists (FSS), a family-owned foundation repair and waterproofing business serving San Antonio and Austin, Texas. The deal — announced July 2022 and facilitated by Cortec Group (Groundworks' PE backer) — expands Groundworks' footprint into Texas and represents an add-on acquisition to support geographic growth.

Groundworks Acquires Alpha Foundations

December 16, 2021

Construction

Groundworks, a Virginia Beach-based foundation and water management platform backed by Cortec Group, acquired Alpha Foundations, a Monticello, Florida-based foundation and crawl space repair company, on December 16, 2021. The add-on expands Groundworks' footprint in Florida and Southern Georgia; Alpha will retain its brand while benefiting from Groundworks' investment in employees, marketing and infrastructure.

Groundworks Acquires AquaGuard Foundation Solutions

December 15, 2020

Construction

Virginia Beach-based Groundworks, a Cortec Group-backed foundation services platform, acquired Atlanta-headquartered AquaGuard Foundation Solutions on December 10, 2020. The add-on strengthens Groundworks' presence in the Southeast and expands its residential waterproofing and foundation repair capabilities; terms were not disclosed.

Groundworks Acquires AFS Foundation & Waterproofing Specialists

June 4, 2020

Construction

Groundworks, a Virginia Beach–based national foundation services platform, acquired AFS Foundation & Waterproofing Specialists of Huntsville, Alabama, adding seven offices, more than 300 employees and over $65 million of annual revenue. The deal is an add-on to Groundworks’ PE-backed platform (supported by Succession Capital Partners and Cortec Group) and strengthens the company’s Southeast footprint while advancing its strategy to build a national, vertically integrated foundation services brand.

Groundworks Companies Acquires Ohio Basement Systems

September 30, 2019

Construction

Groundworks Companies, a portfolio company of Succession Capital Partners, has acquired Ohio Basement Systems. The team of nearly 100 employees will join Groundworks while founder Mike Rusk will join Groundworks' advisory board and the Ohio Basement Systems brand will continue to operate under its name as part of the Groundworks platform.

Groundworks Acquires Ohio Basement Authority and Florida Foundation Authority

July 15, 2019

Construction

Groundworks Companies, a portfolio company of Succession Capital Partners, has acquired Ohio Basement Authority and Florida Foundation Authority. The add-on acquisitions expand Groundworks' foundation services footprint into central Ohio and the Orlando/Central Florida region as part of a larger plan to build a national foundation services platform.