Transactions Archives - BaseRock Partners

BaseRock Partners Advises Hartwig Mechanical, Inc. On Its Sale To Crete United

November 20, 2024/in News, News, Transactions

Denver, CO (November 20, 2024) – BaseRock Partners announces the sale of Hartwig Mechanical, Inc. (“Hartwig”) to Crete United, a portfolio company of Ridgemont Equity Partners. BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to Hartwig in this transaction.

Founded in 1958 by James H. Hartwig, Hartwig Mechanical, Inc. is a premier, full-service commercial and industrial mechanical contractor, serving the Northern Illinois, the North Side of Chicago, and Southern Wisconsin areas. This partnership also enables Crete to expand its geographical footprint and strengthen its presence in the Midwest.

“The BaseRock team was instrumental in our realizing an attractive outcome for Hartwig,” said Chadd Hartwig, CEO of Hartwig.

“BaseRock did a terrific job of communicating our story, their process generated significant buyer interest, and their industry expertise and experience was instrumental in managing the transaction. We are pleased to have realized such a successful outcome.”

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

Matthew Drake
Partner & Co-Founder
Email Matthew
312.882.7649

BaseRock Partners Advises SunWest Builders On Its Sale To An ESOP

November 7, 2024/in News, News, Transactions

Denver, CO (November 5, 2024) – BaseRock Partners announces the successful sale of SunWest Builders to an Employee Stock Ownership Plan (ESOP). BaseRock Partners (“BaseRock”) served as the exclusive financial advisor to SunWest Builders.

SunWest Builders, founded in 1989 and headquartered in Oregon, has been a trusted name in Central Oregon’s construction industry for over 35 years. Known for delivering high-quality projects, from small-scale remodels to multi-million-dollar campus expansions, SunWest Builders consistently meets the highest standards of craftsmanship and customer service. The company’s stability and success are built on strong client relationships, with recommendations and referrals serving as a testament to its long-standing commitment to client satisfaction.

Under the leadership of President and owner Steve Buettner, who has been active in the region’s construction sector since the early 1980s, the company has earned a reputation for delivering high-quality, durable projects across a wide range of sizes and types.

Reflecting on this new chapter, Buettner shared, “I have always believed in the talent, dedication, and heart of our team. Transitioning to an ESOP reflects my confidence in our people and honors the collective effort that has driven our success. I couldn’t envision a better legacy than empowering our employees to shape the future of SunWest Builders.” Buettner shared,

“BaseRock Partners came highly recommended to us, and they lived up to their reputation as leaders in construction company ESOP formations. Their expertise and guidance were crucial as we navigated the complexities of transitioning to an ESOP.

With their insightful support and step-by-step leadership, BaseRock proved to be the ideal partner during this transformative period for SunWest Builders.”

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

Matthew Drake
Partner & Co-Founder
Email Matthew
312.882.7649

BaseRock Partners Advises Clinton Electric, Inc. On Its Sale To Mid-Am Building Solutions, LLC

July 30, 2024/in News, News, Transactions

Denver, CO (July 30, 2024) – BaseRock Partners is pleased to announce the sale of Clinton Electric, Inc. to Mid-Am Building Solutions, LLC, a portfolio company of Craft Work Capital Investments, LLC. BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to Clinton Electric, Inc. (“Clinton Electric “) in this transaction.

Clinton Electric, headquartered in Ina, Illinois, has been a trusted partner in the field of industrial and commercial electrical contracting since 1981. The company offers a comprehensive range of services, including new construction, renovations, repairs, general maintenance, plant shutdowns, and emergency response. Serving primarily the southern section of Illinois, Clinton Electric’s impressive portfolio includes clients such as Southeastern Illinois Electric Cooperative, Continental Tire, Conagra Brands, Walker’s Bluff Casino, and SSM Health.

“We couldn’t be more grateful for the BaseRock team during the sale of our company,” said Pam Allen, President of Clinton Electric. “BaseRock’s approach to managing both the buyer and us kept the process on track and their patience and willingness to educate me through every step were invaluable. We were fortunate to have had BaseRock guide our ownership team through the sale process. A special thanks to the team!”

“Clinton Electric is a truly impressive company with a reputation of superior workmanship. Their talented leadership team fosters a great culture that is fortified by dedicated, highly skilled union electricians. Clinton Electric is an important addition to the Mid-Am Building Solutions platform and we look forward to supporting the team in their growth plans,” said Rob Krueger, CEO of Mid-Am Building Solutions, in this press release.

Craft Work Capital Investments, LLC (“Craft Work”), a strategic investor exclusively focused on mechanical, electrical, and other related specialty contracting firms, completed a control investment in Clinton Electric, Inc., by Mid-Am Building Solutions, LLC, Craft Work’s Midwestern-focused platform.

Clinton Electric will remain under its current name and continue to be helmed by Pam Allen as President, who has been with the company for over 23 years.

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

John Steinegger
Managing Director
jsteinegger@baserockpartners.com
720.853.4235

BaseRock Partners Advises Cabrera Services Inc. On Its Sale To EnergySolutions, Inc.

March 20, 2024/in News, News, Transactions

Denver, CO (March 20, 2024) – BaseRock Partners is pleased to announce the sale of Cabrera Services Inc. to EnergySolutions, Inc., a portfolio company of TriArtisan Capital Advisors. BaseRock Partners (“BaseRock”) acted as the exclusive financial advisor to Cabrera Services Inc. (“Cabrera”) in this transaction.

For nearly 30 years, Cabrera has established itself as a trusted partner for environmental and radiological remediation projects nationwide. Headquartered in East Hartford, Connecticut, Cabrera provides services to commercial and federal clients and has been a prominent contractor in the U.S. Army Corps of Engineers and Formerly Utilized Sites Remedial Action Program markets. The company has a proven track record of safety and quality, with expertise spanning the entire environmental cleanup process. Cabrera management and employees will remain in place following the sale.

EnergySolutions, headquartered in Salt Lake City, Utah, is a global leader in the nuclear services industry, providing integrated solutions for nuclear decommissioning and waste management. With decades of experience, EnergySolutions serves government and commercial customers in the nuclear, environmental, and energy sectors. It was acquired by TriArtisan Capital Advisors in November 2021. Cabrera will be fully integrated into EnergySolutions’ federal program.

“This is a tremendous opportunity to take Cabrera to the next level,” said Rob Flowers, President and COO of Cabrera Services, Inc. “EnergySolutions shares our deep commitment to safety and top-notch environmental services, and together, we’ll have the resources and reach to make an even bigger impact. I’m particularly grateful to BaseRock Partners for their invaluable strategic guidance throughout this process. Their patience, resilience, and flexibility were instrumental in navigating the complexities of this transaction.”

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.

BaseRock Partners Contact

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

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

January 30, 2024/in News, News, Transactions

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 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. 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

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

October 30, 2023/in News, News, Transactions

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
Partner
dbass@baserockpartners.com
303.681.1721

Baserock Partners Advises McAninch Corporation On Its Sale To An ESOP

October 26, 2023/in News, News, Transactions

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

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

September 21, 2023/in News, News, Transactions

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.

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
Partner
Email Scott
720.273.2781

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

June 15, 2023/in News, News, Transactions

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

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

BaseRock Partners Advises Tezak Heavy Equipment On Sale To Holcim US

April 3, 2023/in News, News, Transactions

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