KNOXVILLE, TENNESSEE / ACCESSWIRE / January 8, 2025 / '58 Foundations & Waterproofing is a leading provider of basement waterproofing and foundation repair services. The business was sold to Vanterra Foundation Solutions for an undisclosed amount. The original investment was made by an affiliate of Sier Capital Partners in 2019.
'58 Foundations is headquartered in Knoxville, TN, with regional offices in Delaware, Pennsylvania, Maryland, Virginia, North Carolina, South Carolina, and Georgia. Sier supported a new management team that jointly acquired, rebranded, and redefined the trajectory of the business. In recent years, '58 was a highly sought after acquisition target for both strategic and financial buyers.
The success of '58 Foundations started from very humble beginnings. When Sier Capital Partners and management first purchased the business, it was considerably smaller in scale. Since that original investment five years ago, annual revenue has grown more than 5x through a purely organic strategy. Over this period the team focused on branding, marketing and business processes to reach more customers and to provide a higher quality experience for them. The result was record growth throughout the organization.
Kevin Ramsier, Managing Partner of Sier Capital Partners, commented, "This has been a very special partnership. I started a relationship with the prior owners many years before we made the investment. We loved the industry and knew that the macroeconomic backdrop of the industry would create a great business if we could make certain much needed investments. We provided capital and supported one of the best management teams in the industry. Under the leadership of our new team, we worked tirelessly to grow the business, consistently making uncomfortable investments ahead of the curve. This ended up being an incredible outcome for everyone involved, and I am extremely proud to see the business, and the people involved, continue on their journey to be the best in this industry."
About Sier Capital Partners (http://www.siercapital.com):
Sier Capital Partners invests in and works alongside management teams in lower middle-market companies. The firm is operated by experienced business leaders, committed to driving growth and value creation in their partner companies. Sier typically invests into companies with EBITDA between $2 to $20 million.
Contact Information
Adam Altus
Managing Partner
aaltus@siercapital.com
516-695-2313
SOURCE: Sier Capital Partners
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