Groundworks Acquires Foundation Recovery Systems
Groundworks Companies Expands West of the Mississippi, Acquires Foundation Recovery Systems
VIRGINIA BEACH, Va. (Aug. 20, 2018) – Groundworks Companies, the nation’s largest privately held foundation services company, announced today the acquisition of Foundation Recovery Systems. The acquisition is a key milestone in the Groundworks strategy, expanding the company’s footprint west of the Mississippi and establishing an area of growth for the Midwest and beyond.
Since 1992, Moberly-MO-based Foundation Recovery Systems has been a market leader in providing quality, engineered solutions for foundation repair, crawl space moisture management, basement waterproofing, and concrete lifting services to homeowners throughout Missouri, eastern Kansas, northern Arkansas and southern Iowa.
“Our partnership with Foundation Recovery Systems greatly enhances our ability to serve the Midwestern region of the United States and was great opportunity to bring such an established, high-quality brand into our family,” said Matt Malone, CEO of Groundworks Companies. “Groundworks will invest heavily in Foundation Recovery Systems to fund their expansion, while supporting their ability to provide world-class service to their customers. The additional resources that Groundworks will bring coupled with their customer-centric mindset and entrepreneurial drive makes Foundation Recovery Systems a perfect fit for Groundworks.”
“Matt Malone and his company have the exact same vision as I do, to provide our customers with extraordinary, quality service and to provide our employees with the opportunity to achieve their own professional dreams,” said Foundation Recovery Systems founder, Jeff Martin. “This unique partnership allows Foundation Recovery Systems the freedom to grow throughout the Midwest. We are thrilled about the tremendous opportunity ahead.”
Employing over 100 people, Foundation Recovery Systems will maintain its current management team, name and branding, and continue to offer the same high-quality services its customers have come to know and trust.
“This is the fifth acquisition within three years,” noted Cary McGuckin, CMO of Groundworks. “We are invigorated that so many exceptional brands share our vision and passion for helping homeowners.”
Groundworks is the nation’s largest privately held foundation services company with its corporate office headquartered in Virginia Beach, VA. Groundworks is comprised of Mount Valley Foundation Services, Tar Heel Basement Systems, JES Foundation Repair, Indiana Foundation Service, and Foundation Recovery Systems. The combined companies have helped over 125,000 homeowners since 1986. Groundworks operates out of fifteen offices that serve Arkansas, 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 www.Groundworks.com.
About Foundation Recovery Systems
Foundation Recovery Systems, celebrating its 26th year in business, was founded in Sedalia, Missouri in 1992. The company provides foundation services to Missouri, eastern Kansas, northern Arkansas and southern Iowa. It currently operates out two offices in Lee’s Summit and Moberly, Missouri. Foundation Recovery Systems was awarded Business of the Year by the Moberly Area Chamber of Commerce in 2017 and has been the recipient of the Better Business Bureau Torch Award for superior customer service and satisfaction. For more information on Foundation Recovery Systems please visit www.foundationrecoverysystems.com.