BaseRock Partners Expands Engineering and Construction Advisory Practice with Addition of Managing Director Jim Owen

BaseRock Partners is pleased to announce the hiring of Jim Owen as Managing Director. Based in Chicago, Owen brings more than 30 years of investment banking and capital markets experience to BaseRock, with deep expertise advising companies on mergers and acquisitions, capital raising, and ownership transitions.

Mr. Owen will expand BaseRock’s advisory capabilities across the architecture, engineering, and industrial services markets. His appointment supports the firm’s continued growth in advising businesses across North America navigating complex transaction environments.

 “Jim’s experience and client-first focus make him a natural fit for BaseRock,” said Dustin Bass, Co-Founder of BaseRock Partners.

“He has long been a trusted advisor to engineering and construction leaders, and his experience strengthens our ability to deliver exceptional outcomes for our clients.”

Owen began his career at Harris Bank/BMO Capital Markets, where he spent 16 years advising middle-market and large corporate clients. He later served as Managing Director at Houlihan Lokey, where he led M&A and capital raise transactions for engineering, construction, and industrial services firms in the U.S. and abroad. In 2017, he founded Alpine Lake Capital Partners, which focused on investments in utility and infrastructure-related businesses. Most recently, he led the Infrastructure & Industrial Services group at Stout Capital, completing numerous sell-side, buy-side, and capital raise transactions.

 “There’s never been a more important time to provide specialized advice to infrastructure-focused companies,” Owen said. “I’m excited to join a team that is singularly focused on the engineering and construction space and committed to helping owners and leadership teams achieve their strategic goals.”

 

Learn More About Jim Owen

Picture of Jim Owen

Jim Owen

Managing Director

Email Jim
CFMA MA Tariffs, Taxes & Turbulence: 2025 Economic and Capital Markets Outlook baserock partners

CFMA Massachusetts – Tariffs, Taxes & Turbulence: 2025 Economic and Capital Markets Outlook

Presentation Topic

Dustin Bass, Scott Duncan, and Luke Smith of BaseRock Partners present, Tariffs, Taxes & Turbulence: 2025 Economic and Capital Markets Outlook on May 1, 2025 at CFMA Massachusetts.

About the Session

CFMA Massachusetts is pleased to host Dustin Bass, Scott Duncan, and Luke Smith of BaseRock Partners to present the economic and capital markets outlook for 2025. BaseRock will provide essential insights on how fiscal and monetary policies are affecting construction firms and why shifting demographic trends provide actionable growth opportunities. 

They’ll also share which select end-markets are more insulated from short-term economic fluctuations. Learn more about the event or to register.

Meet the Speakers

Picture of Dustin Bass | Partner

Dustin Bass | Partner

dbass@baserockpartners.com
(303) 681-1721

Picture of Scott Duncan | Partner

Scott Duncan | Partner

sduncan@baserockpartners.com
(720) 273-2781

Picture of Luke Smith | Managing Director

Luke Smith | Managing Director

lsmith@baserockpartners.com
(720) 846-0004

NCEO 2025 Annual Employee Ownership Conference

NCEO Annual Employee Ownership Conference 2025

Presentation Topic

Matthew Drake from BaseRock Partners and Leah Turnball from BMO present, Building the Future: The Rise of ESOPs in the Construction Industry on April 16, 2025 at the 2025 NCEO Annual Employee Ownership Conference.

About the Session

The construction industry is experiencing a rapid shift toward employee ownership through employee stock ownership plans (ESOPs), now accounting for 30% of all new ESOPs in the US. Despite representing just 16% of total ESOPs, construction companies are leading the way in this transformative trend.

In this session, Matthew Drake and Leah Turnbull explore the driving forces behind the industry’s adoption of ESOPs, supported by exclusive data and expert insights from industry stakeholders, including lenders, sureties, and CPAs. Attendees will gain a deep understanding of why ESOPs are becoming a preferred ownership transition strategy in construction and how this shift is reshaping the future of the industry.

Don’t miss this opportunity to learn how ESOPs can secure the legacy of your company while creating long-term value for employees. Click here to learn more about the conference.

Meet the Speaker

Picture of Matthew Drake | Partner

Matthew Drake | Partner

mdrake@baserockpartners.com
(312) 882-7649

BaseRock Partners Advises Allied Construction Services On Its Sale To An ESOP

BaseRock Partners Advises Allied Construction Services On Its Sale To An ESOP

Denver, CO (March 13, 2025)BaseRock Partners is pleased to announce the sale of Allied Construction Services (“Allied”) to an Employee Stock Ownership Plan (ESOP). BaseRock Partners (“BaseRock”) served as the exclusive financial advisor to Allied Construction Services throughout this process.

Founded in 1950 in Des Moines, Iowa by Robert Maddox, Allied Construction Services has built a reputation as one of the Midwest’s most trusted interior construction companies. With over 70 years of experience, Allied partners with general contractors, architects, developers, and building owners to deliver high-quality construction solutions. To support its continued growth, the company has expanded across Iowa, Illinois, Nebraska, and Kansas. In the early 1970s, Allied acquired Color Inc., now one of the largest painting contractors in the Midwest.

“Pursuing an ESOP was a natural choice for our company. We wanted to ensure our founder’s legacy lived on while preserving the culture and reputation that set us apart. Selling to an outside buyer couldn’t guarantee that continuity but transitioning ownership to the very people who helped build our success did,” said Bob Maddox, Chairman of Allied Construction. 

“Our accounting firm introduced us to BaseRock Partners, and from day one, they instilled confidence in us,” Maddox added.

“Their deep expertise and ability to clearly outline each step of the process made all the difference. The BaseRock team was with us every step of the way; educating, advising, and ensuring we had everything in place to achieve a successful outcome. Their professionalism and strategic guidance were invaluable. We couldn’t be more pleased with our experience and would highly recommend BaseRock to any company considering an ESOP.”

About BaseRock Partners

BaseRock Partners is an investment bank built to serve the engineering and 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 and construction companies.

Contact BaseRock Partners

Picture of Matthew Drake
Matthew Drake

Partner & Co-Founder
312.882.7649

Email Matt
BaseRock Partners Advises Professional Electrical Contractors of Connecticut On Its Investment From Alaris Equity Partners

BaseRock Partners Advises Professional Electrical Contractors of Connecticut On Its Investment From Alaris Equity Partners

Securing the Right Partner for Continued Growth

Professional Electrical Contractors of Connecticut (PEC), a full-service electrical contracting firm, recently secured a structured equity investment from Alaris Equity Partners. BaseRock Partners served as the exclusive financial advisor to PEC, ensuring that the transaction aligned with the company’s goals for growth, culture, and long-term stability.

For over four decades, PEC has been a trusted name in electrical contracting, with a broad range of capabilities, including commercial installations, historical structural retrofits, and large-scale Photovoltaic (PV) projects. Through its subsidiary, North American Renewables, Inc., PEC is also a leading solar engineering, procurement, and construction (“EPC”) contractor, serving the Greater New England and New York regions.  

As PEC explored its next chapter, its leadership sought an investment partner that would provide financial strength while preserving its core values and operational independence.

Why Professional Electrical Contractors of Connecticut Chose BaseRock Partners

PEC needed an advisor that truly understood the industry, its challenges, and its opportunities, especially construction-focused firms with complex financial structures.

“I was looking for a banker who knew and understood construction. When a fellow subcontractor recommended BaseRock after having a great experience with them, he connected us.

BaseRock had a deep knowledge of our business, understood how our somewhat complex and unique financials worked, and had a deep pool of serious, sophisticated buyers.

Jim Bisson, President & Chief Executive Officer of PEC  

BaseRock took the time to understand what mattered most to PEC – culture, control, growth, and diversification – and leveraged its deep industry expertise to identify and secure the right investment partner.

The Outcome: A Stronger Future for PEC

The investment from Alaris Equity Partners provides PEC with the resources to accelerate its expansion while maintaining its strong company culture and reputation for excellence. By working with BaseRock, PEC was able to navigate the complexities of the transaction with confidence, securing a future that supports both its team and long-term vision.

About BaseRock Partners

BaseRock Partners is an investment bank built to serve the engineering and 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 and construction companies.

Contact BaseRock Partners

Picture of Luke Smith

Luke Smith

Managing Director
720.846.0004

Email Luke
BaseRock Partners Advises Key Construction On Its Sale To An ESOP

BaseRock Partners Advises Key Construction On Its Sale To An ESOP

Denver, CO (February 20, 2025)BaseRock Partners is pleased to announce the sale of Key Construction, an ENR Top 400 Contractor, to an employee stock ownership plan (ESOP). BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to Key Construction in this transaction. Founded in 1978 by brothers Ken and Dave Wells, Key Construction has grown to operate in nearly 40 states, with offices in Kansas, Oklahoma, and Texas.  

“Choosing the ESOP path as part of our succession plan was an obvious choice for Key Construction. From the beginning, we knew that our dedicated employees were rightful owners given their role in building Key Construction to the company that it is today,” said Dave Wells, President of Key Construction. “As owners, we were honored to pass the ownership torch to employees and work to help them achieve their long-term retirement goals.” 

Wells continued, “The team at BaseRock are at the top of their class! Their professionalism and expertise were instrumental in our successful ESOP transition.

The BaseRock team took time to explain each phase of the process in a clear and understandable way. I truly believe without them on our team we wouldn’t have realized the exceptional transaction that resulted. We would not hesitate to recommend BaseRock to any owners considering an ESOP or any other type of sale transaction.” 

The establishment of the ESOP underscores Key Construction’s commitment to its workforce, recognizing employees as its most valuable asset. This move is anticipated to enhance employee engagement and drive the company’s future success. 

 

About BaseRock Partners

BaseRock Partners is an investment bank built to serve the engineering and 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 and construction companies.

 

BaseRock Partners Contact

Picture of Matthew Drake
Matthew Drake

Partner & Co-Founder
312.882.7649

Email Matt

Marsh McLennan Agency Northwest Construction Summit 2025

Speaking Topic

Dustin Bass and Scott Duncan are presenting Build a Better Business at the 2025 Construction Summit.

About the Event

Marsh McLennan Agency is hosting its 2025 Construction Summit. This event promises to be an insightful gathering of industry experts, where they will explore various topics crucial to the construction sector. Speakers Scott Duncan and Dustin Bass will share their expertise on a wide range of subjects, ensuring a comprehensive and engaging experience for all attendees. 

Click here to learn more about the event.

Meet Our Team

Picture of Dustin Bass | Partner

Dustin Bass | Partner

dbass@baserockpartners.com
(303) 681-1721

Picture of Scott Duncan | Partner

Scott Duncan | Partner

sduncan@baserockpartners.com
(720) 273-2781

American Structural Concrete has sold to an employee stock ownership plan

BaseRock Partners Advises American Structural Concrete On Its Sale To An ESOP

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. 

 

BaseRock Partners Contact

Picture of Matthew Drake
Matthew Drake

Partner & Co-Founder
312.882.7649

Email Matt

BaseRock Partners Advises New England Finish Systems On Its Sale To An ESOP

Denver, CO (January 15, 2025) – BaseRock Partners announces the sale of New England Finish Systems to an Employee Stock Ownership Plan (ESOP). BaseRock Partners (“BaseRock”) served as the exclusive financial advisor to New England Finish Systems (“NEFS”). 

Founded in 1985, NEFS has grown into one of the largest specialty contractors in New England. Known for its quality craftsmanship and adherence to strict deadlines, NEFS is a trusted partner in the specialty contracting industry. With over 300 carpenters, NEFS serves a diverse range of projects, including high-end tenant fit-outs, biopharmaceutical lab spaces, and ground-up residential high-rises in Boston, Massachusetts. 

“I am so proud of the company we’ve built together, the quality of our work, and commitment to the projects we have always delivered,” said Jon Marquis, owner of NEFS.

BaseRock worked closely with us to evaluate the best transaction options and provided valuable guidance and expertise throughout the complex ESOP process. Thanks to their extensive experience in the construction industry, we achieved a transaction that significantly benefits our employees and positions our company for long-term success.” 

NEFS’s transition to employee ownership underscores its commitment to its workforce as its most important asset. This ESOP ensures the company’s stability and continued growth under the leadership of its skilled and loyal team. 

About BaseRock Partners

BaseRock Partners is an investment bank built to serve the engineering and 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 and construction companies.

 

BaseRock Partners Contacts

Picture of Matthew Drake
Matthew Drake

Partner & Co-Founder
312.882.7649

Email Matt
Picture of John Steinegger
John Steinegger

Managing Director
720.853.4235

Email John
BaseRock Partners Advises Dutra Materials on its Sale to CRH

BaseRock Partners Advises Dutra Materials on its Sale to CRH

Denver, CO (December 9, 2024) – BaseRock Partners is pleased to announce it served as the exclusive advisor to Dutra Materials, a premier provider of aggregate and asphalt materials to the greater San Francisco market, on its sale to CRH.  The transaction closed on November 15, 2024.  

“Our collaboration with CRH for this acquisition marks the start of an exciting future for both companies,” said Bill Dutra, Executive Chairman of The Dutra Group. 

“BaseRock’s market knowledge and experience was a critical factor in helping us identify a partner that shares our values and long-term vision for Dutra Materials. We are grateful for their support and guidance during the transaction process.”  

Additional details on the transaction can be found here

About BaseRock Partners

BaseRock Partners is an investment bank built to serve the engineering and 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 construction materials companies. For more information about M&A advisory or about our investment banking services, contact us. 

BaseRock Partners Contact

Scott Duncan
Partner & Co-Founder
Email Scott
720.273.2781