JES merges with Winston-Salem-based Tar Heel Basement Systems
- November 20, 2017
Richmond-based JES Cos. has merged with Winston-Salem, N.C.,-based Tar Heel Basement Systems.
Founded in 2003 by CEO Pete Burgess, Tar Heel is one of the largest foundation repair, basement waterproofing and crawl space encapsulation companies in North Carolina.
Tar Heel was recently awarded a 2017 U.S. Chamber of Commerce Veteran-Owned Business Achievement Award and ranked on North Carolina’s Fast 40 list.
Burgess will remain CEO of Tar Heel and continue to lead Tar Heel Basement Systems’ daily operations. He will become a part owner of JES and join its board of directors.
Tar Heel plans to expand to Raleigh and Asheville early next year.
“Our partnership with Tar Heel Basement Systems greatly enhances our ability to serve the southeastern region of the United States,” Matt Malone, the CEO of JES, said in a statement.
Tar Heel will continue operating under its existing brand and will continue to be run by its current staff. A new corporate identity program, which will include a new logo, website, marketing materials and fleet vehicles, will occur in 2018.
Malone acquired a majority share of JES through his private equity firm, Succession Capital Partners, from Jesse and Stella Waltz early last year.
They founded JES in 1993 and were able to grow the company by 20 percent annually for nearly 25 years.
Malone has expanded JES’ original three locations to seven, making Tar Heel its eighth location.
In addition to Tar Heel, the company includes JES Foundation Repair, JES Evergreen, Indiana Foundation Service and Mount Valley Foundation Services.
JES serves Virginia, Maryland, North Carolina, West Virginia, Indiana, South Carolina, and Georgia.