Groundworks Acquires WTX Foundation Repair

Groundworks Acquires Matvey Foundation Repair to Enter Pacific Northwest

June 27, 2024

Construction

Groundworks, a national foundation and water management solutions company, has acquired Seattle-based Matvey Foundation Repair, Inc., marking Groundworks’ first location in Washington and expanding its West Coast footprint. The acquisition brings Matvey’s foundation repair, waterproofing and concrete services into Groundworks’ national platform and offers Matvey employees access to broader resources and ownership opportunities.

Groundworks Acquires Select Basement Waterproofing to Enter New Jersey Market

February 29, 2024

Construction

Groundworks, the national foundation and water management solutions platform, has acquired Select Basement Waterproofing and will rebrand the business as Groundworks to expand into New Jersey. The acquisition brings Groundworks immediate coverage across multiple New Jersey counties and adds residential services including basement waterproofing, foundation repair, crawl space encapsulation and mold remediation to its network.

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 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 (Succession Capital Partners Portfolio Company) Acquires Foundation Repair of Western Colorado

January 6, 2020

Construction

Groundworks, a portfolio company of Succession Capital Partners, has acquired Foundation Repair of Western Colorado (FRWC), expanding Groundworks' footprint on Colorado's western slope and into Utah. FRWC's founder Ted Munkres will retire following the transition but will remain as a consultant; the business will continue operating under the Foundation Repair of Western Colorado name within Groundworks' platform.