Groundworks Acquires Colorado-based Peak Structural
April 4, 2022
Four Groundworks locations in Colorado to unite as one brand
Virginia Beach, VA (April 4, 2022) – Groundworks®, the nation’s leading foundation, and water management solutions company, announced that it will acquire Colorado-based foundation services company Peak Structural, marking its 24th acquisition in less than six years.
Founded in 2002 by Paul and Lisa Sutton, Peak Structural serves communities in Denver and Colorado Springs as one of the region’s trusted experts in foundation repair, concrete lifting, crawl space encapsulation, and basement waterproofing. For two decades, the company built a reputation of trust by delivering remarkable customer experiences. In addition to significant capital investments that will expand operations in Colorado, Groundworks will offer Peak employees enhanced training, a 401K plan, profit-sharing programs, and meaningful career growth opportunities.
As part of the agreement and to better serve customers in Colorado, Groundworks also announced that its two other Colorado-based companies, Complete Basement Systems (CBS) and Foundation Repair of Western Colorado (FRWC), will unite with Peak Structural under one brand, Groundworks. Together, the three award-winning local companies with four locations throughout Colorado, will form the largest and most reputable foundation services company in Colorado, offering homeowners unmatched customer service, industry-leading foundation solutions, and a nationally backed warranty program.
“Acquiring Peak Structural will further solidify our market presence in Colorado,” said Matt Malone, Groundworks Founder and CEO. “By merging these three great companies, we bring together over 60 years of local history and expertise to best serve our customers in the region with the finest foundation solutions in the industry and to provide our employees unlimited potential for professional growth.”
“We started and grew this business with a mission to protect our customer’s home values while growing the careers of our employees. This decision was made with both those objectives in mind,” said Paul Sutton, Founder of Peak Structural. “Bringing together the three of the best companies in the state with national-level funding, training, and supply chain resources means more solutions to help more customers and exponential career development opportunities for our employees. Colorado homeowners will benefit from the best of the best working on their homes.”
Since 2016, Groundworks has been disrupting an industry, building the country’s first national foundation solutions company through a combination of acquiring industry-leading local brands and opening new locations across the country. This announcement marks the first time the company will make an in-market acquisition to strengthen its leading market share position.
Groundworks®, headquartered in Virginia Beach, VA, is the nation’s leading and fastest-growing foundation and water management solutions company. Groundworks Companies provide residential foundation and water management solutions, including foundation repair, basement waterproofing, crawl space repair and encapsulation, plumbing, gutters installation, and concrete lifting services. Since inception, our combined brands have helped nearly 1.5 million homeowners protect and repair their most valuable asset, their home. Groundworks operates over 45 offices and has been named numerous times to the Inc. 5000 Fastest Growing Companies, Qualified Remodeler Top 500, BBB integrity award, and Best Places to Work.
For more information about Groundworks, please visit: https://www.Groundworks.com.