Denver, CO (October 26, 2023) – BaseRock Partners is pleased to announce the sale of McAninch Corporation (“McAninch” or the “Company”), a leading midwestern heavy civil contractor, to an employee stock ownership plan (“ESOP”). BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to McAninch Corporation in this transaction.
Founded in Des Moines, Iowa in 1967, McAninch specializes in grading and mass excavation, foundation excavation, and underground utility installation, including sewer and water main lines. Over its 56-year history, the Company has developed a reputation for exceptional technical expertise, outstanding project management capabilities, and enduring industry relationships.
“As the owner of McAninch Corporation, I’ve always believed in the incredible talent and dedication of our team,” said Doug McAninch, owner of McAninch Corporation. “Selling the Company to our employees through an ESOP was a decision driven by my unwavering faith in our people. I see this transition as a testament to the trust and faith I have in the individuals who have contributed to our success.”
“BaseRock Partners came highly recommended to us within the construction industry, and their reputation as a leader in this field is well-deserved,” McAninch added. “Their guidance and expertise were instrumental in helping us navigate the complex process of transitioning to an ESOP. BaseRock not only provided valuable insight but also led us with precision through each step of the journey. We couldn’t have asked for a more capable partner during this pivotal time for McAninch Corporation.”
BaseRock Partners is an investment bank built to serve the engineering & construction industry. BaseRock advises clients using a team-oriented approach that combines decades of industry expertise, deep industry relationships, and unique transaction capabilities specifically designed to meet the needs of engineering & construction companies. For more information about ESOP advisory or about our investment banking services, contact us.
BaseRock Partners Contact
Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649
