M&A Deal Summary

Groundworks Acquires AFS Foundation & Waterproofing Specialists

On June 7, 2020, Groundworks acquired construction company AFS Foundation & Waterproofing Specialists

Acquisition Highlights
  • This is Groundworks’ 7th transaction in the Construction sector.
  • This is Groundworks’ 9th transaction in the United States.
  • This is Groundworks’ 1st transaction in Alabama.

M&A Deal Summary
Date 2020-06-07
Target AFS Foundation & Waterproofing Specialists
Sector Construction
Buyer(s) Groundworks
Deal Type Add-on Acquisition

Target

AFS Foundation & Waterproofing Specialists

Huntsville, Alabama, United States
website
AFS Foundation & Waterproofing Specialists is a foundation services company that has specialized in helping homeowners in having peace of mind knowing their homes are stable and dry. It has grown from a small company operating out of a home garage in North Alabama to a company with locations all over the Southeast and over 250 employees serving Alabama, Georgia, and Tennessee. AFS was formed in 2000 and is based in Huntsville, Alabama.

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Buyer(S) 1

Buyer

Groundworks

Virginia Beach, Virginia, United States

website

Category Company
Sector Construction
DESCRIPTION

Groundworks is a vertically integrated foundation services company that serves primarily the single-family residential market, providing a critical suite of services to homeowners that preserve home value, integrity, and safety, including foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting. Groundworks is based in Virginia Beach, Virginia.

DEAL STATS #
Overall 9 of 22
Sector (Construction) 7 of 16
Type (Add-on Acquisition) 9 of 22
State (Alabama) 1 of 1
Country (United States) 9 of 22
Year (2020) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-01-06 Foundation Repair of Western Colorado

Grand Junction, Colorado, United States

Foundation Repair of Western Colorado is a licensed contractor providing basement waterproofing, foundation repair, crawl space repair, and concrete lifting services. They have been performing basement waterproofing and crawl space repair in Colorado and Utah since 2005.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-10 Foundation Systems of Michigan

Livonia, Michigan, United States

Foundation Systems of Michigan is a foundation repair and waterproofing contractor in Michigan, serving both residential and commercial clients. They provide state-of-the-art foundation repair, water mitigation, and crawlspace repair services, utilizing highly trained professional installation crews, and industry-leading products. With nearly 250 employees, FSM focuses on providing every customer with cost-effective solutions and the highest level of customer service in the industry. Foundation Systems of Michigan was formed in 2007 and is based in Livonia, Michigan.

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