Groundworks Acquires AFS Foundation & Waterproofing Specialists
June 4, 2020
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.
- Buyers
- Groundworks, Succession Capital Partners, Cortec Group
- Targets
- AFS Foundation & Waterproofing Specialists
- Sellers
- Ben Bayless / Bayless family
- Platforms
- Groundworks
- Industry
- Construction
- Location
- Alabama, United States
- Transaction Type
- Addon
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