Tag Archive for: Engineering & Construction Services

electrical services june 2024

Electrical Services Market Update June 2024

In our Electrical Services market update, manufacturing facility construction, data center expansion, and a focus on sustainable energy are driving growth while the industry grapples with extended lead times and a scarcity of skilled electricians.

Stay ahead of the curve and overcome these obstacles with proactive recruitment, training, and retention strategies.

Key takeaways from the Electrical Services Market Update include:

  • – Executive summary on the current state of electrical services market today.
  • – Broad currents shaping the market, including 6 key takeaways.
  • – Latest industry news and public company updates.

 

Contact BaseRock Partners

Luke Smith
Director
lsmith@baserockpartners.com
720.846.0004

utility services market update april 2024

Utility Services Market Update April 2024

In our latest Utility Services Market Update, we share megatrends in transmission, broadband infrastructure, and more, highlighting the need for modernization and resilience and the growing demand for utility service assets.

Gain access to critical takeaways and acquire fresh insights to effectively navigate the shifting landscape.

Utility Services Market Update Insights & Megatrends include:

  • – How Transmission and Distribution requirements are evolving to meet new demands
  • – Importance of asset modernization and hardening across the sector
  • – Role of fiber in powering the modern economy
  • – Summary of key transactions in utility services

Contact BaseRock Partners

Luke Smith
Director
lsmith@baserockpartners.com
720.846.0004

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

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

matt-drake

Matthew Drake
Partner
mdrake@baserockpartners.com
312.882.7649

CPL tombstone

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

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

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

KW Services

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

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

 

Sagamore

BaseRock Partners Advises Sagamore On Its Investment From Alaris Equity Partners

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