Groundworks Acquires Foundation Support Specialists ("FSS")

Groundworks enters the Texas market with 26^th acquisition

Virginia Beach, Va., July 18, 2022 /PRNewswire/ -- Groundworks^®, the nation's leading foundation, and water management solutions company, announced that it will acquire Foundation Support Specialists ("FFS"), a family-owned company serving San Antonio and Austin. FSS concentrates on providing foundation repair services to homes and businesses, along with crawl space encapsulation, waterproofing services, and concrete repair.

Currently celebrating their 5-year anniversary, FSS was founded by Brian Holt and Richard Reed, and has quickly become the area's trusted expert. Groundworks welcomes them to the mission and will continue to build on their strong reputation by investing in their employees along with marketing, and infrastructure, while still providing their customers the local expertise and heightened levels of service they've come to expect.

"With this acquisition, Groundworks enters the explosive Texas market. For years, Texas consumers have been underserved with cheap, low quality concrete foundation solutions. Despite being only 5 years old, FSS has been delivering proper steel pier solutions in the foundation repair business for the consumers of San Antonio and Austin. We look forward to quickly expanding FSS across the state to deliver a new standard of excellence in Texas," said Matt Malone, Groundworks Founder and CEO.

"By joining forces with Groundworks, we will continue to deliver on our record of success as well as be able to pursue many new and exciting growth initiatives in the future," said co-founder, Brian Holt. Co-founder, Richard Reed said, "We look forward to joining our talented new colleagues at Groundworks who have achieved remarkable growth by putting people first. That's exactly what we are going to continue to do for our employees and customers."

Since 2016, Groundworks has been disrupting an industry, building the country's first national foundation solutions company through a combination of acquiring industry-leading local brands and opening new locations across the country. This announcement further strengthens its market-leading position.

Groundworks^®, headquartered in Virginia Beach, VA, is the nation's leading and fastest-growing foundation and water management solutions company. Groundworks Companies provide residential foundation and water management solutions, including foundation repair, basement waterproofing, crawl space repair and encapsulation, plumbing, gutters installation, and concrete lifting services. Since inception, our combined brands have helped nearly 1.5 million homeowners protect and repair their most valuable asset, their home. Groundworks operates over forty-five offices and has been named for a remarkable six years in a row to the Inc. 5000 Fastest Growing Companies, Qualified Remodeler Top 500, BBB integrity award, and Best Places to Work.

For more information about Groundworks, please visit: https://www.groundworks.com.

SOURCE Groundworks