Groundworks Companies, a Succession Capital Partners (SCP) portfolio company, and the nation’s largest privately-owned foundation services company announced today the acquisitions of Ohio Basement Authority (OBA) and Florida Foundation Authority (FFA).
This set of acquisitions brings the total number of companies to join SCP under the Groundworks banner to six in the past year and follows less than two months after the acquisition of Complete Basement Systems, in Denver, CO.
With the rapid addition of brands, combined with ongoing organic expansion, the company continues towards fulfilling its stated vision of building the first national foundation services company. The combined companies now serve homeowners across over 7,000 zip codes.
“Our vision has always been simple, acquire and partner with the best foundation services’ consumer brands in the United States. We then capitalize on those brands to expand their geographic footprint, while also offering their team the ability to grow and develop like never before. I’m thrilled to welcome Doug (Secrest) and his great team to ours,” said Matt Malone, Managing Partner of SCP. “The Authority Family embodies every one of our principles. As we continue to evolve the industry, we look forward to sharing learnings between our teams to continue to strengthen the services we provide our customers in Ohio and Florida.”
Ohio Basement Authority, based in Columbus, Ohio, was founded in 2010 by Doug Secrest and quickly grew to become the leading foundation services company in Ohio. On the heels of that success, Secrest launched Florida Foundation Authority to bring his company’s expertise to the greater Orlando and Central Florida regions, where it was greatly needed. Florida Foundation Authority has quickly shown that it stands on its own as the premier foundation services company in Central Florida.
“I am excited about what this partnership means for the Authority Family teams. Groundworks has repeatedly demonstrated that it can deliver significant growth through superior products and services to the companies it acquires,” said Secrest. “That growth, combined with being part of a larger company, opens up entirely new career paths for my employees. The newly-found freedom to grow this provides us is energizing and allows us to go from good to great.”
The teams from Ohio Basement Authority and Florida Foundation Authority will be integrated into the Groundworks organization with Secrest assuming the role of Special Advisor, focusing on driving growth in Central Florida. As a fourth-generation foundation repair specialist, Secrest is a recognized leader in the industry and Ohio Basement Authority has been honored three times as a “Top Workplace” by Columbus CEO Magazine.
About Succession Capital
Succession Capital is the only professional buy-out firm headquartered in the Virginia Beach/Norfolk area. Succession owns A-1 Plumbing, Foundation Recovery Systems, BizWiz Management Systems, JES Foundation Repair, Independence Materials Group, Mount Valley Foundation Service, Tar Heel Basement Systems, Shipyard Staffing, and Groundworks Companies. For more information about Succession Capital Partners, please visit https://www.successioncp.com/
Groundworks is the nation’s largest privately-held foundation services company. Headquartered in Virginia Beach, VA, the company provides foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting. Groundworks is comprised of Complete Basement Systems, Foundation Recovery Systems, Indiana Foundation Service, JES Foundation Repair, Mount Valley Foundation Services, Tar Heel Basement Systems, Independence Materials Group, and Bizwiz Software. Since 1986, the combined companies have helped over 150,000 homeowners repair, protect and improve their most valuable asset, their home. Groundworks operates out of sixteen offices that serve Arkansas, Colorado, Georgia, Indiana, Iowa, Kansas, Maryland, Missouri, North Carolina, South Carolina, Virginia, and West Virginia. The company has been named to the Inc. 5000 Fastest Growing Companies and Best Places to Work. For more information about Groundworks, please visit: http://www.Groundworkscompanies.com.
About Ohio Basement Authority
Ohio Basement Authority was founded by Doug Secrest in 2010. The company provides waterproofing, crawl space, and foundation repair in the greater Columbus area. A BBB A+ accredited company and Angie’s List Super Service Award winner, the company focuses on providing the highest quality solutions backed by long-term warranties. For more information about Ohio Basement Authority, please visit: https://www.ohiobasementauthority.com/.