Tag Archive for: Building Materials

Construction Materials Outlook 2024

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2024 brings a host of challenges to the market, including inflation risk, rising deficits/debt, and the specter of a recession. However, non-residential construction, particularly manufacturing and infrastructure, have strong tailwinds. The key question in 2024: Will pricing power continue to offset stagnant and weakening demand? Download the 2024 Outlook to learn more.

Key Insights Include:

  • – Strategic recap of 2023 in the construction materials industry
  • – Summary of key M&A transactions that are reshaping markets
  • – Construction materials 5 key 2024 trends to watch
  • – Key drivers of pricing power in construction materials markets

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Contact BaseRock Partners

Scott Duncan
Partner
sduncan@baserockpartners.com
720.273.2781

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

 

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.

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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

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

 

ghilotti

BaseRock 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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