By Capital MarketsAug 27, 2021, 06:00 et
Generational Capital Markets, Member FINRA/SIPC and a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, Allied Underground, Inc. to Altos Partners, LLC. The acquisition closed July 28, 2021.
Allied Underground (Allied), located in Bertram, Texas, tackles complex infrastructure projects for clients across Central Texas. Its team of managers, superintendents, and skilled laborers focus on underground water, wastewater, and storm sewer construction. Customers are balanced across commercial, educational, and multi-family contractors with greenfield, addition, and rehab projects. Allied is well known for its expertise in meeting the needs of complex, fast track projects, with long-term repeat and referral-based customers.
Leonard Meredith, the veteran entrepreneur behind Allied’s success, will continue at the helm of his dedicated and talented team.
Located in Atlanta, Georgia, Altos Partners (Altos) is a different kind of private equity firm with a unique approach and innovative way to conduct business: They consider their portfolio companies as true partners, not purely investments. They truly value and respect the people they work with and do not believe their involvement is done when the transaction closes. They stay engaged and empower the company leaders to un-tap the true potential of their businesses.
Altos’ primary focus is on entrepreneur-owned businesses, but remains flexible to explore other opportunities where they believe their knowledge and interests are aligned. They generally target industrial and commercial service businesses with under $75 million in revenue and always seek the best mutual fit as they concentrate on only a handful of new platform investments each year.
“I am excited to bring in a partner to support Allied’s continued growth trajectory. We’ve enjoyed serving our community for many years and will now better handle the growing needs and demands of our robust market with additional equipment, personnel, and other resources,” stated Mr. Meredith. “We remain committed to maintaining the Company’s reputation for quality service and customer responsiveness while we meet our customers’ expansion requests across the greater Austin metropolitan market.”
Stenning Schueppert, Managing Director of Altos noted, “We enjoy working with critically important and essential businesses that are the economy’s true backbone. With JL Filtration in the industrial filtration market, Westco in commercial landscaping, and now Allied, Altos continues to focus on lower middle-market industrial and business service companies. We’re blessed to partner with leaders like Leonard.”
Generational Capital Markets’ Senior Managing Director of Mergers & Acquisitions, Chris Heckert, with the support of Vice President Mergers & Acquisitions, Andre Farahmandi, successfully closed the deal. Senior Managing Director Rick Buchoz established the initial relationship with Allied.
“This is an exciting partnership for both Allied and Altos. Austin’s recent population explosion is leading to rapid infrastructure growth in the area, and Allied and Altos have an excellent opportunity to benefit from that growth,” said Heckert.
About Generational Capital, LLC
Generational Capital, LLC, is a Dallas, Texas-based merger and acquisition advisory firm. Generational Capital wholly owns Generational Capital Markets, Inc., Member FINRA/SIPC. More information can be found at https://www.gencm.com/.
Generational Capital and Generational Capital Markets are part of the Generational Group and are affiliated with Generational Equity, LLC, which The M&A Advisor named Investment Banking Firm of the Year in 2016, 2017, and 2018 and Valuation Firm of the Year in 2020.
GCM's most recent awards include The M&A Advisor's 2020 Information Technology Deal of the Year ($10MM-$25MM) and 2020 Private Equity Deal of the Year ($25MM-$50MM).
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Generational Equity’s assistance was invaluable in compiling and marketing our business.Bil MacLeslie, CEO, ipHouse
Through the sale process, Generational brought in several interested buyers and we closed in about 6 months. I am so glad I accepted that invitation to the conference and could not be happier with the whole process. The team at Generational coupled with their knowledge and guidance was so valuable that in the end, I know I could never have done this on my own!JoAnn Ellis, Owner of Fondren 5 Star Kennels
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I wanted to take this opportunity to thank you for all that you have done for us. Not only did you take care of all the aspects of the sale but took extra care to make sure we knew what it looked like every step of the way. I will definitely recommend your company to anyone that is in a position to or looking to exit their business.Shane and Johanna Kline, Owners of Vision Upfitters
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Generational Equity educated and informed us – so that we could be on the upside of a good decision (to sell).Bil MacLeslie, CEO, ipHouse
Thank you again for all your guidance and support. Any company will achieve what they intend, if they have you on their team!Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
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Greetings Mike. Thank you for the captivating and compelling presentation you made at the Phoenix presentation last week. Over many years in business yours was the most informative and well-presented presentation, on any subject, that I have ever attended! Your energy and enthusiasm combined with your concise and captivating support of your positions with easily understood examples and data was compelling.Pete L.
The help you provided us during each step of this process made us feel very comfortable and confident we were selecting the right approach to transition our Company.Andy Graham, Vice President, Modern Heating & Plumbing
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