CFMA Massachusetts 2024: Introduction to Ownership Succession

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Dustin Bass and Scott Duncan will be speaking at the upcoming Massachusetts Chapter of CFMA event, sharing their expertise on a crucial topic for the construction sector: Ownership Succession.

Dustin and Scott will discuss pivotal factors impacting the value and marketability of construction businesses, the increasing significance of ESOPs in today’s market, outline the qualities of a robust ESOP candidate, and explore effective strategies for internal equity transfer.

Click here to learn more.

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

ESOP Association (TEA) Professionals' Forum 2024

ESOP Association (TEA) Professionals’ Forum 2024

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Meet us at the upcoming ESOP Association (TEA) Professionals’ Forum in New Orleans, LA on February 7th-9th, 2024.

The ESOP Association’s Professionals’ Forum is designed exclusively for high-level professionals who provide technical, financial, and legal assistance to ESOP companies. The Forum is a unique opportunity for professionals to gather with their peers for a collaborative learning experience. And because the Forum is a meeting of professionals for professionals, attendees can take full advantage of programming without the pressure of servicing or attending to client needs at our larger, national events.

Click here to learn more.

Meet Our Team

Picture of Matthew Drake | Partner

Matthew Drake | Partner

mdrake@baserockpartners.com
(312) 882-7649

Picture of John Steinegger | Managing Director

John Steinegger | Managing Director

jsteinegger@baserockpartners.com
(720) 853-4235

Brix RLC Tombstone

BaseRock Partners Advises Brix Paving Northwest Inc. and RLC, On Their Sale To An ESOP

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Denver, CO (January 30, 2024) – BaseRock Partners is pleased to announce the sale of Brix Paving Northwest Inc. and Roger Langeliers Construction Co., subsidiaries of WWS Holdings, Inc., to an employee stock ownership plan (ESOP). BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to Brix Paving Northwest Inc. (“Brix”) and Roger Langeliers Construction Co. (“RLC”) in this transaction.

For over 25 years, Brix Paving Northwest Inc. has provided its customers with the resources, equipment, and, most importantly, the people to complete paving projects of all calibers. From small residential driveways to mainline interstate paving and full parking lot restorations, Brix has developed a reputation for integrity, quality, and safety.

Founded in 1995, Roger Langeliers Construction Co. specializes in the placement, finish, sawing, and joint sealing of Portland cement concrete for roadways, driveways, sidewalks, and other residential and commercial projects. Over its nearly 30-year history, the company and its employees have developed trusted partnerships with clients, including construction companies and local governments, by delivering high-quality results on time and budget.

“At Brix Paving Northwest, we believe in the incredible talent and dedication of our team. That’s why we decided to sell the company to our employees through an ESOP. They have contributed so much to our success, and now they get to write the next chapter,” said Billy Stimpson, President of Brix. “We’re grateful to BaseRock Partners for partnering with us on this process. We couldn’t have done it without their expertise. Their reputation as a leader in this field is well-deserved.”

Web Langeliers, President of RLC added, “BaseRock Partners came highly recommended to us within the construction industry, and we couldn’t have asked for a more capable partner during this pivotal time for RLC. Their insight and support gave us complete confidence as we worked through a pretty complex process.”

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

matt-drake

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

 

CPL tombstone

Baserock Partners Advises CPL On Its Acquisition Of Makovich & Pusti Architects

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Denver, CO (October 30, 2023) – BaseRock Partners is pleased to announce the acquisition of Makovich & Pusti Architects (“MPA”) by CPL, a Rochester, NY based multi-disciplined architecture, engineering, and planning firm serving public and private-sector clients nationwide (“CPL”). BaseRock served as the exclusive financial advisor to CPL for this transaction.

The transaction combines MPA’s portfolio and knowledge base in healthcare, higher education, and the public sector with CPL’s innovative design approach and client-service expertise. The addition of MPA will also extend CPL’s geographic reach with its first office in Ohio, partnering with CPL’s Buffalo, NY and Pittsburgh, PA locations to create shared resources and capabilities.

“The shared commitment to a client-focused practice and blending of cultures and talents will allow us to provide national expertise to meet the complex and diverse needs of their clients,” said Todd Liebert, AIA, NCARB, CEO, CPL. “Culture is key and MPA brings the same energy and values to their business and clients as CPL. We’re committed to scaling our capabilities and preserving the creativity and agility that MPA provides.

“The professionals at BaseRock Partners worked closely with us to understand our transaction objectives and utilized that information to plan and implement a highly successful transaction process,” Mr. Liebert added. “BaseRock earned our trust early on and their industry knowledge and relationships proved invaluable in helping us execute a transaction with a partner that will allow us to further serve the needs of our clients.”

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 M&A advisory or about our investment banking services, contact us.

BaseRock Partners Contact

Dustin-Bass_circle-min

Dustin Bass
Partner
dbass@baserockpartners.com
303.681.1721

Mcaninch-min

Baserock Partners Advises McAninch Corporation On Its Sale To An ESOP

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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

matt-drake

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

avr-tombstone

BaseRock Partners Announces Sale of AVR, Inc. to McNamara Contracting

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Denver, CO (September 21, 2023) – BaseRock Partners is pleased to announce the sale of Minneapolis, Minnesota based AVR, Inc. and Fischer Mining, LLC (“AVR” or “the Company”), a leading vertically integrated provider of aggregates, ready-mix concrete, and construction services, to McNamara Contracting, Inc. (“McNamara”). BaseRock Partners served as the exclusive financial advisor to AVR.

avr-tombstone

Established in 1957, AVR serves customers through a network of ten ready mix plants, two aggregates pits, and integrated construction operations. With more than 260 employees, the Company has grown to become one of the leading independent construction materials providers in the state of Minnesota.

“The BaseRock team came highly recommended and was an indispensable part of our transaction team,” said Peter Fischer, owner of AVR. “Throughout the process BaseRock displayed an exceptional ability to resolve complex transaction issues. We could not be more pleased with the outcome of the transaction process and look forward to continuing the AVR legacy with Mike McNamara and his team for years to come.”

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, including those operating in the construction materials market.  For more information about M&A advisory or about our investment banking services, contact us.

BaseRock Partners Contact

Scott-Duncan_circle

Scott Duncan
Partner
Email Scott
720.273.2781

KW Services

BaseRock Partners Advises KW Services On Its Sale To Mid-Am Building Solutions

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DENVER, CO (June 23, 2023) – BaseRock Partners (“BaseRock”) is pleased to announce the sale of KW Services, LLC (“KW Services”), a portfolio company of First Capital Partners and Aldine Capital Partners, to Mid-Am Building Solutions, LLC, the Midwestern platform of Craft Work Capital. BaseRock Partners served as the exclusive financial advisor to KW Services for this transaction.

Headquartered in South Bend, Indiana, KW Services is a leading provider of mission-critical mechanical and electrical design, installation, and maintenance services. For more than 100 years, the company has served industrial, commercial, and institutional clients across the Midwestern United States with a focus on reliability, safety, and customer service.

“BaseRock’s industry experience was invaluable in helping us navigate the sale of KW Services,” said Andy Kemp, Managing Director at First Capital Partners. “BaseRock’s guidance and support were instrumental in achieving a successful outcome for all parties involved.”

For additional information, please click here.

About BaseRock Partners

BaseRock Partners is a full-service 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 companies serving the engineering and construction market.

BaseRock Partners Contact

matt-drake

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

 

Tezak

BaseRock Partners Advises Tezak Heavy Equipment On Sale To Holcim US

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DENVER, CO (April 3, 2023) – BaseRock Partners is pleased to announce the sale of Tezak Heavy Equipment (“Tezak”), one of the largest family-owned and operated aggregates and construction companies in Colorado, to Holcim US (“Holcim”). BaseRock Partners served as the exclusive financial advisor to Tezak for this transaction.

Established in 1989, Tezak is a leading construction materials and specialty civil construction company headquartered in Canon City, Colorado. The company operates four quarries in the Colorado Springs market, including THE Aggregate Source, Table Mountain Quarry, Byzantine Quarry, and Canon Dolomite Quarry. The company’s construction operations are focused on water resource / utility projects, as well as specialty civil projects for a wide variety of public and private clients.

“We are grateful for the guidance and support provided by BaseRock throughout the sale process,” said Danny Tezak, Tezak’s president. “BaseRock’s expertise and experience helped our team navigate the complex issues surrounding the sale of multiple entities in a single transaction, and we could not have achieved such a successful outcome without their assistance. We are excited about the future and believe this transition will allow for additional growth, while Holcim continues to adhere to the principles of quality, integrity, trust and collaboration that the Tezak name has become synonymous with over the last 34 years.”

For additional information, please click here.

About BaseRock Partners

BaseRock Partners is a full-service 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, including those operating in the construction materials market.

BaseRock Partners Contact

Scott Duncan
Partner
sduncan@baserockpartners.com
720.273.2781

 

BaseRock Partners Keynote: Ownership Succession in the Construction Industry

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Our partners, Scott Duncan and Dustin Bass, were featured as keynote speakers at the 2023 Montana Contractors Association Winter Convention, which was held January 25-27. We were excited for this opportunity to share our insights on “Ownership Succession in the Construction Industry.”

Learn more about the event here:  https://lnkd.in/gFXHKjwA

Sagamore

BaseRock Partners Advises Sagamore On Its Investment From Alaris Equity Partners

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Sagamore Heating and Plumbing, LLC is one of leading mechanical contractors serving the greater Boston and surrounding New England markets. With 30 plus years of history, the company enjoys a superior reputation for its customer service and technical expertise.

In 2021, the company’s owner, Joe Harold, decided he wanted to begin considering his transition options. While Joe received dozens of inquiries from prospective acquirers, he was unaware of the options that would best achieve his goals of preserving Sagamore’s strong family-minded culture, ensuring confidentiality of the transaction process, and ultimately maximizing value. To better understand his options, he reached out to BaseRock Partners.

Choosing The Right Path, Finding The Best Partner

BaseRock met with Joe to educate him on the pros and cons of a wide variety of transaction approaches, including analyses of the estimated timing, risks, and proceeds of each. During those discussions, BaseRock helped Joe gain comfort and confidence that a third-party investment was best, if it could be conducted with the right partner who recognized the need to maintain Sagamore’s family-minded culture and strong client-first approach to operations.

Based on Joe’s objectives and BaseRock’s strong understanding of the M&A market for mechanical contractors, BaseRock was able to develop a highly targeted list of potential investors that met Joe’s criteria. BaseRock then began the work of conducting due diligence and developing marketing materials that would serve to support the transaction process.

Following a short, highly confidential marketing process, Alaris Equity Partners emerged as the best fit for Joe and his team. The transaction closed in November 2022.

“The BaseRock Team was invaluable in helping me understand my transaction options in the construction industry and how each approach would satisfy Sagamore’s objectives and protect my legacy. Despite the complexities of a third-party transaction, BaseRock ensured I was well informed during each stage of the process and became an integral part of Sagamore’s advisory team. I am thrilled with the outcome we achieved and could not recommend the BaseRock team more highly to those considering their transaction options.”

– Joe Harold, President, Sagamore Heating & Plumbing, LLC.

About BaseRock Partners

BaseRock Partners is a full-service 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 companies serving the engineering and construction market.

BaseRock Partners Contact

matt-drake

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

 

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Certain securities and advisory services are provided through BaseRock Capital, LLC, a wholly owned subsidiary of BaseRock Partners, LLC and a member of FINRA and SIPC. Information regarding BaseRock Capital, LLC and its registered representatives and principals may be found at brokercheck.finra.org.