Denver, CO (January 31, 2025) — BaseRock Partners is pleased to announce the sale of American Structural Concrete (“ASC”) to an Employee Stock Ownership Plan (ESOP). BaseRock Partners (“BaseRock”) served as the exclusive financial advisor to ASC throughout the transaction process.
Founded over 30 years ago, American Structural Concrete has established itself as a leader in structural concrete solutions across the Southern United States. The company has contributed to some of the region’s most iconic projects, including the Faena Art Center in Miami, FL, and SunTrust Park in Atlanta, GA. ASC’s expertise spans Traditional Form and Turnkey Frame, Hybrid Parking Deck, Tilt-Up, Industrial, and Precast structural solutions.
“At American Structural Concrete, we spent several years developing a sustainable business including being certain of the management’s capabilities in the event something happened to the owners. Included in our definition of a sustainable business was the concept of the company’s culture,” said Brack Maggard, President & Partner of ASC.
“After a considerable amount of thought given to the various other potential buyers, it became obvious that selling to the employees was the only way forward in order to maintain the Company’s culture which is integral to the success of the Company.”
Chris Alexander, COO & Partner of ASC, shared,
“Selling to an ESOP is not like a typical M&A transaction. Through their significant experience, BaseRock Partners navigated the requirements related to an ESOP transaction with ease. Not only did they (very patiently) explain the vast differences between an M&A transaction and an ESOP, they helped crystalize our thoughts regarding other potential buyers.”
“As a group, BaseRock was not only highly professional and knowledgeable, they were fun to work with. It left you feeling like you made a bunch of new friends. I would not hesitate to recommend BaseRock Partners for any type of sale transaction. Their advice was invaluable.”
The ESOP transition solidifies ASC’s commitment to its workforce and positions the company for long-term stability and growth under the stewardship of its skilled team. This employee ownership model ensures the company’s values and mission remain intact while rewarding employees for their dedication and contributions.
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