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  6. Groundworks Acquires AFS Foundation & Waterproofing Specialists

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’ 10th transaction in the Construction sector.
  • This is Groundworks’ 12th 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
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
Category Company
Founded 2016
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 was founded in 2016 and is based in Virginia Beach, Virginia.

DEAL STATS #
Overall 12 of 32
Sector: Construction M&A 10 of 24
Type: Add-on Acquisition M&A Deals 12 of 32
State: Alabama M&A 1 of 1
Country: United States M&A 12 of 31
Year: 2020 M&A 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. Foundation Repair of Western Colorado was founded in 2005 and is based in Grand Junction, Colorado.

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FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-10 FSM

Livonia, Michigan, United States

FSM is a foundation repair and waterproofing contractor, 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. FSM was founded in 2007 and is based in Livonia, Michigan.

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