Denver, April 13, 2021 — Construction industry veterans Dustin Bass, Matt Drake and Scott Duncan today announced the launch of a new independent investment bank, BaseRock Partners, built to serve the unique needs of engineering, construction, and construction materials (“E&C”) clients.
“We have assembled a group of industry veterans with an excellent track record of executing successful mergers and acquisitions, employee stock ownership plans (“ESOPs”), and internal ownership transfers,” said Dustin Bass, co-founder and partner of BaseRock Partners. “Our principals bring exceptional transaction capabilities and deep industry knowledge and relationships, which will present a unique value proposition to E&C owners evaluating ownership transition and sale options.”
“The E&C market is in the midst of a generational shift,” stated Mr. Bass. “The entirety of the baby boomer generation will be 65 by the year 2030, forcing many E&C firms to address ownership transition issues within the next few years.”
“The unique needs of E&C clients are what drove the formation of BaseRock,” Mr. Drake said. “Industry-focused investment banks that can advise clients on all transition options, whether a third-party sale, ESOP, or other internal mechanism, are rare. BaseRock was built to bring these capabilities under one roof and provide clients with the full spectrum of transition options.”
BaseRock will be led by Mr. Bass, formerly a Managing Director at FMI, where he led global business development efforts; Mr. Drake, formerly a Managing Director at FMI Capital Advisors and previous experience at Prairie Capital Advisors and in corporate development for a publicly traded firm; and Scott Duncan, whose industry experience includes work at FMI Capital Advisors, BMO Capital Markets, and Lafarge North America (now LafargeHolcim). The new firm will have offices in Denver, Colorado and St. Louis, Missouri.
“We are seeking to disrupt the traditional Investment Banking/M&A Advisory market with an industry-focused, education-based approach,” Mr. Duncan said. “We will be uniquely positioned to serve the needs of the E&C market over the next decade and beyond.”