Groundworks® completes acquisition of Select Basement Waterproofing to expand into New Jersey market
Feb 29, 2024•almost 2 years ago
Acquiring Company
Groundworks
Acquired Company
Select Basement Waterproofing
Description
Virginia Beach-based Groundworks®, the nation’s leading foundation and water management solutions company, has acquired Select Basement Waterproofing to increase its footprint into New Jersey. Through this strategic expansion, Groundworks aims to quickly expand services into New Jersey and sees exciting and strategic growth potential to serve homeowners in the state.
M&A Insights
Based on deal dataIntegration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed