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A Hampton Roads foundation repair conglomerate has completed yet another acquisition.
Virginia Beach-based Groundworks recently acquired Ohio Basement Systems, according to a Sept. 30 announcement.
“The team that my wife and I have built over the last 20 years means a lot to us,” Ohio Basement Systems co-founder Mike Rusk said in the announcement. “We see these employees as our family, and they deserve the ability to grow in their careers beyond what we can currently offer.”
This is the fourth acquisition this year by Groundworks. It’s also the company’s second purchase in Ohio. It acquired Columbus-based Ohio Basement Authority in July. This latest acquisition establishes a Groundworks foothold in northeast Ohio, CEO Matt Malone said in the release.
“We only look to partner with the best foundation services brands in the country and we are committed to providing these brands the resources and support needed to further enhance their growth,” he added.
Mike and Gayle Rusk founded Ohio Basement Systems in 1999. The Cleveland-based company’s nearly 100 employees are expected to retain their positions, said Occasio Gee, Groundworks director of advertising and public relations. He said Ohio Basement System will continue to operate under its current name and branding.
Gee declined to reveal any of the financial terms of the acquisition.
Rusk and Groundworks have a history together — the co-founder was previously a senior vice president for BizWiz, Groundworks’ automation software, according to a 2014 Inside Business People Changes notice. Gee said that position no longer exists. However, as part of the acquisition, Rusk will be joining Groundworks’ advisory board.
Groundworks now operates out of 20 offices that serve Arkansas, Colorado, Florida, Georgia, Indiana, Iowa, Kansas, Maryland, Missouri, North Carolina, South Carolina, Ohio, Virginia and West Virginia.
Groundworks Completes Another Ohio Acquisition - Ohio Basement Systems
Reprint from Inside Business
October 16, 2019
1741 Corporate Landing Parkway
Virginia Beach, VA 23454
Groundworks CEO Matt Malone, left, shakes hands with Ohio Basement Systems co-founder Mike Rusk. Groundworks recently acquired the Cleveland-based company, according to a Sept. 30 announcement. (Courtesy photo)