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Press releases > Generational Capital Markets Advises Allied Underground in its Sale to Altos Partners

Generational Capital Markets Advises Allied Underground in its Sale to Altos Partners

By Capital Markets

Aug 27, 2021, 06:00 et
Allied Underground

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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Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
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
I would like to thank you and your firm, Generational Equity, for being our valued advisors in our journey.
Bil MacLeslie, CEO, ipHouse
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
We had the pleasure of working with Mr. Ahmad Behjati Managing Director, M&A, for Generational Equity during our acquisition of Papa's Dodge in late 2021. Generational Equity and Mr. Behjati represented and marketed Papa’s Dodge. As our primary contact, Mr. Behjati was professional in every facet of this acquisition process, conveying valuable advice most times and assisting us in every step of the process.
Rick Greene of Dobbs Equity Partners LLC
Michael worked tirelessly, He followed every lead meticulously and urgently to make sure nothing was missed.
Robert Evans, President and CEO of Mealtracker Dietary Software
We knew it would be a difficult task to have someone really understand our business and our market, prior to researching a possible buyer, so it was imperative that we found someone of your caliber, with definite proven experience in this area.
Rick Nowak, President/CEO, Kurz Electric Solutions, Inc.
Thanks to you, the entire GE team and especially Michael Goss for driving a great valuation, coaching me and driving the process across the finish line. Please let me know if there is anything I can do to support GE going forward. P.S. Given my experience with GE I felt comfortable enough to sign up with Generation Wealth Advisors!
Tom Currier, Former President & CEO, Rackmount Solutions
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Jay Dinnison, Owner of Sharpe Mixers
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Larry Moore, Owner, A Company Portable Restrooms
The most important contribution I think Ahmad made was with his personality and work ethic. He is sincere, efficient, and very hard working. He was available to me at all times, whether it was for specific detail of the negotiation or just to talk through the bigger picture. He listened, advised, and recommended, but never forced his idea or opinions. In the time we worked together, he became a valued colleague and also a friend.
Salvo Stoch, Founder and CEO of Sleeping Partners
I need to say an immense thank you to Don Ho for his stellar work ethic, attention to detail, and tireless effort. Also thank you to the whole crew at GE! Without you, Don could not do such a phenomenal job. We were shooting for closing and funding before the end of 2020, due to the uncertainty of the political landscape and taxes. I am happy to report we closed last week and will be funding tomorrow.
Dr. Caty J. Catron PhD, RN, VA-BC – Owner, Vic The Picc, LLC
We were represented by Michael Goss with Generational. The due diligence was grueling and exhausting, but Michael propped us up and kept us motivated throughout the process. Debi and I continued to ask each other how we could possibly make it through this process without the assistance of Michael. Michael's professionalism and knowledge is absolutely amazing, and we are so blessed to have had him by our side as we made our future dreams come true.
Bob and Debi Lee, Owners of BL Technology, Inc and BL Tl Services, LLC
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.
The process was much more involved than I expected and your help, experience and advice was a big factor in making the negotiations go as smoothly as possible.
Terry D. Wickman, President, Keytroller
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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Bryan D. Horn, Owner, Over Under Clothing
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Robert Evans, President and CEO of Mealtracker Dietary Software
I wanted to write you a quick letter to express our appreciation and our delight on the outcome of helping us through the process of our recent sale. We are very happy with the end result, and are very happy to be able to move forward with all of our future growth plans.
Terry D. Wickman, President, Keytroller
After attending a conference with GE, I decided that the value they bring would be worth the expense and as soon as I started working with them, I realized that was the right decision. When we started to get LOIs, Fred Zweifel took the lead on the communication and supported negotiations throughout the process, which got tricky as we moved forward. I learned that it can be common for companies to make a great offer then work to erode that price with their discoveries, but Fred and the GE team kept that from happening.
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Your wisdom and experience were invaluable to me during this once-in-a-lifetime transaction.
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We were happy to see the interest in our company and what we cherished has not just a valuable company but an important company to the communities we served in.
Larry Moore, Owner, A Company Portable Restrooms
I decided to attend the conference and hopefully receive some guidance on how to structure an exit plan of my business. Upon arriving at the conference, I was so impressed with the presentation given by Generational Equity that I set a future appointment that week to discuss the possibility of selling my business with their Senior Managing Director David Robinson.
JoAnn Ellis, Owner of Fondren 5 Star Kennels
I quickly recognized that Don was working for Sharpe Mixers above all else, and held our interests above others.
Jay Dinnison, Owner of Sharpe Mixers
I am pleased that I was able to work with Andrew Byrd throughout this experience. From the first meeting we had in Minneapolis I felt that I was in good hands. His knowledge and expertise is second to none. He guided the process consistently throughout. I feel lucky that I was pared with Andrew and could not be happier that I chose Generational Equity to handle this major life event. Thank you Andrew and GenEq for everything!
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