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Groundworks® completes acquisition of Select Basement Waterproofing to expand into New Jersey market

Feb 29, 2024almost 2 years ago

Acquiring Company

Groundworks

Acquired Company

Select Basement Waterproofing

Virginia BeachMorganvilleConstructionWaterConsumer ServicesBuilding MaterialBuilding Maintenance

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.

Company Information

Company

Groundworks

Location

Virginia Beach, Virginia, United States

About

Groundworks is North America's leading foundation repair and water management solutions company. Our mission is to protect, repair, and improve the customer’s greatest asset, their home, through superior engineered products, highly trained experts, and lifetime guarantees. As a consecutive, eight-time recipient of Inc. 5000 Fastest Growing Companies, and with over 78 offices across the U.S. and Canada, Groundworks’ combined brands have helped improve the lives of over one million homeowners.

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M&A Insights

Based on deal data
Integration 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