Wikipedia

Draft:Groundworks, LLC

Groundworks, LLC
TypePrivate
IndustryHome services; foundation repair
FoundedMay 1, 2016; 10 years ago (2016-05-01) in Virginia Beach, Virginia
FounderMatt Malone
Headquarters
Virginia Beach, Virginia
,
U.S.
Area served
45 U.S. states (including Washington, D.C.) and 2 Canadian provinces
Key people
  • Matt Malone (Founder & Executive Chairman)
  • Doug Sanders (CEO)
  • Jeffrey Martin (COO)
Services
  • Basement waterproofing
  • Foundation repair
  • Crawl space repair and encapsulation
  • Concrete services
  • Soil stabilization
  • Plumbing
Number of employees
7,000+ (2026)
Websitewww.groundworks.com

Groundworks, LLC is a North American foundation repair and basement waterproofing company headquartered in Virginia Beach, Virginia. The company provides residential and commercial services, including basement waterproofing, foundation repair, crawl space repair and encapsulation, concrete lifting, soil stabilization, and plumbing.[1]

As of 2026, Groundworks has more than 7,000 employees, including licensed Professional Engineers, and operates over 80 office locations, serving 45 U.S. states and the District of Columbia, as well as two Canadian provinces.[2]

History

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Groundworks was established on May 1, 2016, when Matt Malone purchased JES Foundation Repair and Indiana Foundation Service.[3] The company began operations with five offices and 190 employees.

2017–2019

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Groundworks expanded its operations in 2017 through the acquisitions of Mount Valley Foundation Services and Tar Heel Basement Systems.[4][5] In 2018, the company acquired Foundation Recovery Systems,[6] A1 Sewer & Drain,[7] material supplier IMG, and software developer BizWiz.[8]

In 2019, Groundworks added five additional companies: Complete Basement Systems, Ohio Basement Authority, Florida Foundation Authority, Ohio Basement Systems, and Innovative Basement Authority.[9][10][11][12]

2020–2022

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Groundworks began 2020 with the acquisition of Foundation Repair of Western Colorado.[13] Later that year, the company added AFS Foundation Repair & Waterproofing Specialists, Foundation Systems of Michigan, and AquaGuard Foundation Solutions.[14][15][16]

In 2021, Groundworks acquired DryPro Foundation & Crawlspace Specialists, Baker's Waterproofing, I'm the Guy Basements, BQ Basements & Concrete, and Alpha Foundations.[17][18][19][20][21] In 2022, the company acquired Basement Authority of West Virginia, CLS Foundation Repair, Peak Structural, and Foundation Support Specialists.[22][23][24][25]

2023–2024

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The company added Bay Area Underpinning and Eco-Soil Stabilizers in 2023.[26][27]

In 2024, Groundworks completed several acquisitions, including URETEK, Bedlam Foundation of Oklahoma City, Metro Structural Services of Tulsa, EagleLIFT, Matvey Foundation Repair, Rainy Day Basement Systems, and Yellowstone Structural Systems.[28][29][30][31][32][33] The same year, the company expanded into Canada through the acquisitions of Doug Lacey's Basement Systems, PolyLevel Alberta Corp., and Clarke Basement Systems.[34][35][36] Additional 2024 acquisitions included Select Basement Waterproofing and The Basement Guys.[37][38]

2025–2026

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In 2025, Groundworks added Rescon Basement Solutions, Busy Dog Basement Technologies, and Leveled Concrete.[39][40][41] In 2026, the company acquired WTX Foundation Repair.[2]

List of acquisitions

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Groundworks acquisitions
DateCompanyReference(s)
May 1, 2016JES Foundation Repair[3]
May 1, 2016Indiana Foundation Service[3]
April 13, 2017Mount Valley Foundation Services[4]
November 20, 2017Tar Heel Basement Systems[5]
June 13, 2018A1 Sewer & Drain[7]
August 20, 2018Foundation Recovery Systems[6]
December 17, 2018IMG[8]
December 17, 2018BizWiz[8]
May 20, 2019Complete Basement Systems[9]
July 16, 2019Ohio Basement Authority[10]
July 16, 2019Florida Foundation Authority[10]
September 30, 2019Ohio Basement Systems[11]
December 5, 2019Innovative Basement Authority[12]
January 7, 2020Foundation Repair of Western Colorado[13]
June 8, 2020AFS Foundation Repair & Waterproofing Specialists[14]
July 16, 2020Foundation Systems of Michigan[15]
December 15, 2020AquaGuard Foundation Solutions[16]
January 7, 2021DryPro Foundation & Crawlspace Specialists[17]
May 18, 2021Baker's Waterproofing; I'm the Guy Basements[18][19]
November 3, 2021BQ Basements & Concrete[20]
December 16, 2021Alpha Foundations[21]
January 4, 2022CLS Foundation Repair[23]
April 4, 2022Peak Structural[24]
July 6, 2022Basement Authority of West Virginia[22]
July 18, 2022Foundation Support Specialists[25]
July 19, 2023Bay Area Underpinning[26]
November 17, 2023Eco-Soil Stabilizers[27]
January 5, 2024URETEK[28]
February 14, 2024Bedlam Foundation of Oklahoma City[29]
February 14, 2024Metro Structural Services of Tulsa[29]
February 29, 2024Select Basement Waterproofing[37]
April 10, 2024The Basement Guys[38]
May 1, 2024Doug Lacey's Basement Systems[34]
May 22, 2024PolyLevel Alberta Corp.[35]
June 24, 2024EagleLIFT[30]
June 27, 2024Matvey Foundation Repair[31]
July 31, 2024Clarke Basement Systems[36]
August 28, 2024Rainy Day Basement Systems[32]
December 4, 2024Yellowstone Structural Systems[33]
March 19, 2025Rescon Basement Solutions[39]
April 2, 2025Busy Dog Basement Technologies[40]
September 3, 2025Leveled Concrete[41]
February 18, 2026WTX Foundation Repair[2]

Investments and corporate developments

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On January 1, 2020, Groundworks announced a growth capital partnership with Cortec Group, a private equity firm.[42]

On February 2, 2023, Groundworks announced an investment from KKR as part of a strategic partnership; Cortec remained a shareholder. As part of the transaction, the company expanded its employee equity ownership program.[43] Later that year, founder Matt Malone was named an EY Entrepreneur of the Year 2023 Mid-Atlantic Award winner.[44]

In September 2024, Groundworks announced a spokesperson collaboration with Mike Rowe, launching the "Go Below with Rowe" campaign.[45]

On February 19, 2026, Groundworks announced the distribution of its first employee dividend, with nearly 5,000 employee-owners receiving payouts ranging from two to four weeks of pay based on tenure.[46]

The company has been listed on the Inc. 5000, the Qualified Remodeler Top 500, and Top Workplaces USA.[47][48][49]

References

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  1. ↑ "Groundworks | Inside Business Roaring 20". The Virginian-Pilot. December 14, 2020.
  2. 1 2 3 "Groundworks expands to 45 states with purchase of Amarillo-based contractor". Albuquerque Business First. February 23, 2026.
  3. 1 2 3 "From the Ground Up with Matt Malone (408)". Mike Rowe. October 9, 2024.
  4. 1 2 "Succession Capital Portfolio Company, JES Companies acquires South Carolina company". Virginia Business. March 7, 2017.
  5. 1 2 "Tarheel Basement Systems and JES Companies Announce Merger". Greater Winston-Salem Inc. November 21, 2017.
  6. 1 2 "Groundworks acquires software, manufacturing companies". The Virginian-Pilot. December 31, 2018.
  7. 1 2 "Succession Capital acquires A-1 Sewer & Drain". The Virginian-Pilot. June 13, 2018.
  8. 1 2 3 "Virginia Beach-based foundation company makes two acquisitions". Virginia Business. December 18, 2018.
  9. 1 2 "Virginia Beach's Groundworks completes largest acquisition yet". The Virginian-Pilot. May 22, 2019.
  10. 1 2 3 "Ohio Basement Authority purchased". Smart Business Dealmakers. July 15, 2019.
  11. 1 2 "Groundworks completes another Ohio acquisition". The Virginian-Pilot. October 16, 2019.
  12. 1 2 "Groundworks acquires another Midwestern company". The Virginian-Pilot. November 26, 2019.
  13. 1 2 "National company acquires foundation repair firm". The Business Times. January 22, 2020.
  14. 1 2 "AFS Purchased by Groundworks Companies". Huntsville Business Journal. June 8, 2020.
  15. 1 2 "Michigan deal sustains Groundworks' national foundation brand pursuit". Concrete Products. July 14, 2020.
  16. 1 2 "Groundworks expands into Atlanta area with latest acquisition". The Virginian-Pilot. January 1, 2021.
  17. 1 2 "Fast-growing Dry Pro of Belmont acquired by Groundworks". Charlotte Business Journal. January 6, 2021.
  18. 1 2 "Baker's Waterproofing acquired by Virginia company". Pittsburgh Post-Gazette. May 19, 2021.
  19. 1 2 "People on the move: 8/15/2021". Pittsburgh Post-Gazette. August 16, 2021.
  20. 1 2 "Virginia Beach-based Groundworks acquires Philadelphia co". Virginia Business. November 4, 2021.
  21. 1 2 "Groundworks Acquires Florida-Based Alpha Foundations". Alachua Chronicle. December 17, 2021.
  22. 1 2 "Groundworks Acquires Basement Authority of West Virginia". PrivSource. July 6, 2022.
  23. 1 2 "Expanding Footprint to Omaha: Groundworks acquires local foundation repair company". Midlands Business Journal. May 12, 2022.
  24. 1 2 "Longtime Colorado Springs-area foundation repair business gets new owner". The Gazette. April 8, 2022.
  25. 1 2 "Virginia Beach company acquires SA's Foundation Support Specialists". San Antonio Business Journal. July 25, 2022.
  26. 1 2 "Groundworks enters California with acquisition of Bay Area Underpinning". Daily Republic. July 30, 2023.
  27. 1 2 "Business notes for the week of Dec. 25". The Virginian-Pilot. December 26, 2023.
  28. 1 2 "Reacquired Fort Worth-area firm reinstates popular employee benefit". Fort Worth Report. January 6, 2024.
  29. 1 2 3 "Groundworks expanding into Oklahoma, acquires companies in OKC and Tulsa metro". Oklahoma Business Voice. February 20, 2024.
  30. 1 2 "Organizations – August 2024". Concrete Products. August 21, 2024.
  31. 1 2 "National firm acquires Matvey Foundation Repair as part of expansion". Puget Sound Business Journal. July 9, 2024.
  32. 1 2 "KKR-Backed Groundworks Buys Rainy Day". Mergers & Acquisitions. August 29, 2024.
  33. 1 2 "Organizations – January 2025". Concrete Products. January 21, 2025.
  34. 1 2 "Groundworks Launches Expansion into Canada". Financial Post. May 1, 2024.
  35. 1 2 "KKR-backed Groundworks picks up PolyLevel Alberta Corp". PE Hub. May 23, 2024.
  36. 1 2 "Organizations – September 2024". Concrete Products. October 7, 2024.
  37. 1 2 "Select Basement Waterproofing acquired by Virginia Beach water management solutions firm". ROI-NJ. March 1, 2024.
  38. 1 2 "KKR-Backed Groundworks Buys The Basement Guys". Mergers & Acquisitions. April 11, 2024.
  39. 1 2 "National Foundation, Water Management Solutions Company Expands Into Mass., New Hampshire". Patch. March 19, 2025.
  40. 1 2 "Groundworks Expands into Massachusetts with Acquisition of Busy Dog Basement Technologies". Boston Real Estate Times. April 2, 2025.
  41. 1 2 "Groundworks Acquired Leveled Concrete". City Biz. September 3, 2025.
  42. ↑ "Cortec Group Announces Growth Capital Partnership with Groundworks" (Press release). Cortec Group. January 2020.
  43. ↑ "KKR invests in foundation repair company Groundworks". PE Hub. February 1, 2023.
  44. ↑ "EY taps seven Va. biz leaders as mid-Atlantic entrepreneurs of year". Virginia Business. June 23, 2023.
  45. ↑ "Business notes: Mike Rowe of 'Dirty Jobs' joins Groundworks campaign, Panera with drive-thru opens in Norfolk". The Virginian-Pilot. October 21, 2024.
  46. ↑ "Virginia Beach-based Groundworks commits to hiring 5,000 employees throughout the U.S. in next 5 years". The Virginian-Pilot. April 18, 2026.
  47. ↑ "Inc. Company Profile". Inc 5000.
  48. ↑ "Top 500 2025". Qualified Remodeler.
  49. ↑ "Groundworks". Top Workplaces.
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