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 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, 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

 

ghilotti

BaseRock Partners Advises Ghilotti Construction On Its Sale To An ESOP

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BaseRock Partners Represents the California based heavy civil firm on the sale to its employees

Ghilotti Construction Company (“GCC”) is one of the largest heavy civil construction firms in the United States, ranking #379 on Engineering News Record’s 2022 Top 400 list. As Dick Ghilotti, the company’s founder and majority owner, began to consider his retirement and succession options, his objectives for a transaction were clear: ensure the 100-year legacy of GCC was preserved and the family-oriented culture was maintained, while providing the company’s shareholders with a fair market value for their shares.

Change Without Disruption

As one of the nation’s leading heavy civil construction firms, GCC had a host of transaction options to choose from. With its size, profitability, management team, self-performance capabilities, and strong industry tailwinds, GCC represented an excellent acquisition candidate to multiple acquirers.

As part of its engagement, BaseRock analyzed GCC’s transaction alternatives and highlighted the benefits and risks of each, with a heavy emphasis on how each alternative would affect Dick’s preferences of preserving GCC’s legacy and culture. Following many discussions with the BaseRock team, GCC’s shareholders decided selling to an ESOP was the best alternative for the company.

“BaseRock Partners provided exceptional insight and advice as we navigated a very difficult decision-making process. Their leadership, market knowledge, and financial acumen were critically important to our owners and executive team. BaseRock will continue to be trusted advisors to our firm as we enter our next 100 years as an employee-owned company.”

– Dick Ghilotti, Founder, Ghilotti Construction Company

Maintaining Culture And A Company Legacy

Following months of hard work, Dick and the GCC’s owners ultimately approved the sale of the company to an ESOP in November of 2022. The transaction was announced at an employee celebration in Petaluma, California with over 150 new employee owners in attendance.

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.