Virginia Beach-based foundation company makes two acquisitions
- December 18, 2018
Virginia Beach-based Groundworks Cos. is growing through two acquisitions.
The company has acquired Columbia, S.C.-based Independence Materials Group and KBH Management Software. Financial terms of the deal were not disclosed.
The acquisitions mark Groundworks’ seventh acquisitions in three years.
Since 2010, KBH’s software, Biz Wiz, has been the nation’s leading workflow software for home service and foundation repair companies. KBH will be renamed Bizwiz, after its flagship product.
Independence Materials Group is a manufacturer and distributor of specialty, patented products for foundation repair, basement waterproofing and crawl space encapsulation industries.
“These two acquisitions allow our company to not only vertically integrate, but to also insulate our business from any dependency on outside forces that could interfere with our mission to protect, preserve and repair our customer’s greatest asset; their home,” Matt Malone, CEO of Groundworks Cos., said in a statement. “Groundworks is now the only foundation services business in the country with its own manufacturing and world class software solution.”