Watchtower Capital Completes Platform Investment in Fence Builders

CHARLOTTE, N.C., July 16, 2025 /PRNewswire/ -- Watchtower Capital ("Watchtower") today announced the simultaneous acquisitions of Fence Builders, Inc. (www.fencebuildersinc.com) and Green Hill Fence Company (www.greenvillefencing.com), creating a premier residential and commercial fence, gate and access control platform serving the Southeast (the "Company"). Watchtower is establishing an integrated, regional platform by combining two industry leaders with complementary geographic footprints and specialized capabilities. The Company will continue operations under existing management while benefiting from enhanced scale and resources to accelerate growth. Fence Builders will serve as the platform and flagship brand, however, the Green Hill brand will be retained given its strong local reputation and customer relationships.

Founded in 1955 in Winston-Salem, North Carolina by the Shelton family, Fence Builders, Inc. is one of the Southeast's longest established fence and access control system providers, with a legacy of providing high-quality solutions under the leadership of second-generation owner Steve Shelton. Fence Builders' experienced craftsmen and installation specialists provide tailored solutions from residential applications to complex commercial gate systems with sophisticated access control technology across North Carolina, South Carolina, Virginia, Tennessee, Florida, and Georgia. Mr. Shelton commented, "I am impressed with the differentiated partnership approach the Watchtower team brings and believe they will be a good steward for my family's business and its employees. They are highly transparent and were gentlemen throughout the sale process."

Green Hill adds complementary expertise as a leading fence installer in South Carolina's Upstate region. Under owner Manning Garrett's direction, the company has demonstrated exceptional growth while developing specialized capabilities and high-end custom gate installations for premium residential and commercial facilities. Green Hill's footprint spans South Carolina, North Carolina, and Georgia, creating strategic geographic alignment with Fence Builders.

Messrs. Shelton and Garrett will continue in leadership roles and maintain ownership stakes in Fence Builders. Nick Coder has been appointed President of the Company, bringing more than two decades of business leadership and experience scaling businesses through acquisitions. Mr. Coder's most recent role was as a co-founder of StonePoint Materials, a successful investment in the construction materials sector executed in collaboration with Watchtower's Managing Partners. "I worked with Watchtower to develop this strategy and it's very exciting for it to all come together. Fence Builders and Green Hill provide the ideal foundation for the platform, and I look forward to working with Steve, Manning and Watchtower as we capitalize on this exciting opportunity," said Mr. Coder.

"Fence Builders and Green Hill are attractive businesses on their own merit, together representing a highly compelling platform investment that exemplifies Watchtower's core philosophy of partnering with family and founder-owned businesses," said Casey Lanza, Managing Partner of Watchtower Capital. "These businesses deliver critical services within a highly fragmented industry, creating substantial opportunities for consolidation and organic growth acceleration. This is a playbook the Watchtower team has successfully executed in past investments."

Comerica Securities, Inc. served as financial advisor to Fence Builders. Both Fence Builders and Green Hill were directly sourced outside of a traditional auction process.

Watchtower Capital partnered with Plexus Capital and Aldine Capital Partners to provide debt and equity co-investment alongside Watchtower Capital's equity investment.

About Watchtower Capital

Watchtower Capital is a private equity firm focused on partnering with founder and family-owned businesses. The firm invests in the consumer services, commercial services and B2B products sectors, targeting initial platform investments up to $100 million. Watchtower employs an operationally hands-on approach with its investments and will manage a concentrated portfolio. For high-achieving founders and family business owners, Watchtower offers an accelerated path to take your business to a new level.

For more information, please visit www.watchtowercp.com and follow us on LinkedIn.

About Plexus Capital

With offices in Raleigh and Charlotte, North Carolina, Plexus Capital is a private investment firm that provides capital to small businesses across the United States. Plexus invests debt and/or equity to fund growth, acquisitions, leveraged buyouts, management buyouts, and recapitalizations. Prospective portfolio companies have strong management teams, positive cash flow, large market opportunities, and need capital to execute their business plans. Plexus has raised over $2.6 billion across seven funds.

About Aldine Capital Partners

Aldine Capital Partners is a private investment firm, which provides junior capital financing to lower middle-market companies. Aldine typically invests $5 million to $25 million per transaction in a combination of subordinated debt and equity. Collaborating with traditional and independent sponsors as well as talented management teams, Aldine deploys capital to facilitate growth, support acquisitions/buyouts, or provide shareholder liquidity. Aldine's success is built on a collaborative approach that harnesses over 100 years of combined experience and relationships to create tailored capital solutions.

SOURCE Watchtower Capital Partners