Groundworks acquires BQ Basements & Concrete
Announcement marks 21st acquisition for the company in five years
VIRGINIA BEACH, Va. (Nov. 3, 2021) – Groundworks®, the nation’s leading foundation and water management solutions company, announced that it has acquired Philadelphia-based BQ Basements & Concrete. The acquisition expands the company’s northeast service area into greater Philadelphia, New Jersey, and Northern Delaware. This is Groundworks third acquisition in Pennsylvania this year, following Baker’s Waterproofing in Pittsburgh and I’m the Guy Basements (now Baker’s Waterproofing) in Central PA.
Founded in 1997 by Brian Quinn, BQ Basements & Concrete is an award-winning local brand with a reputation for providing the highest quality basement waterproofing and foundation repair services with a personalized touch. In addition to capital investments that will allow BQ to expand their operations, Groundworks offers enhanced employee training and development opportunities, as well as increased sales and marketing support, new consumer technologies, and a national warranty program to improve the overall customer experience.
“This partnership allows us to expand our footprint in the Northeast, an essential move to continuing our mission of developing the first and only national brand in the foundation services industry,” said Matt Malone, Groundworks Founder and CEO. “With their longstanding history in one of the largest, most competitive, markets in the country, we knew BQ Basements & Concrete was the right partner to join our growing company. We are committed to the aggressive development and expansion of not only their business, but also their employees, including ownership, 401K, profit-sharing programs, and significant career growth opportunities.”
“Together with Groundworks, we will continue the legacy of BQ Basements & Concrete by combining the national strengths and resources of Groundworks with the local experience of our dedicated team of industry experts,” said Brian Quinn. “This partnership is a once in a lifetime opportunity to grow the business, break through old boundaries, and offer our employees more opportunities than ever before.”
The announcement marks the 21st acquisition for Groundworks since starting operations in 2016. Today, with 17 brands, 41 offices and more than 3,500 employees nationwide, Groundworks provides industry-leading foundation and water management solutions to customers across the country.
As part of the acquisition agreement, BQ Basements & Concrete will retain its brand idenity and continue to serve the Greater Philadelphia community and beyond, just as it has for the past 24 years.
Groundworks®, headquartered in Virginia Beach, VA, is the nation’s leading and fastest-growing foundation and water management solutions company. Groundworks provides residential foundation and water management solutions including, foundation repair, basement waterproofing, crawl space repair and encapsulation, plumbing, gutters installation, & concrete lifting services. Since 1975, the combined companies have helped nearly 1.5 million homeowners protect and repair their most valuable asset, their home. Groundworks operates over 40 offices and has been named numerous times to the Inc. 5000 Fastest Growing Companies, BBB integrity award, and Best Places to Work.
For more information about Groundworks, please visit: https://www.Groundworks.com.