Sier Capital Partners Sells '58 Foundations & Waterproofing to Vanterra
Washington, D.C., Wednesday, 8 January 2025.
‘58 Foundations & Waterproofing, a leader in basement waterproofing, has been sold to Vanterra, marking a strategic shift in the real estate service industry.
Deal Details and Timeline
The transaction, announced today January 8, 2025, sees Sier Capital Partners divesting its ownership of ‘58 Foundations & Waterproofing to Vanterra Foundation Solutions for an undisclosed amount [1]. This sale comes after Sier Capital’s initial investment in 2019, during which the company has experienced remarkable growth [1]. The company, headquartered in Knoxville, Tennessee, has established a strong presence across multiple states including Delaware, Pennsylvania, Maryland, Virginia, North Carolina, South Carolina, and Georgia [1].
Growth and Transformation
Under Sier Capital Partners’ stewardship, ‘58 Foundations underwent a significant transformation. The company achieved impressive growth, with annual revenue expanding more than five times through organic strategies since the 2019 acquisition [1]. This growth was primarily driven by strategic investments in branding, marketing, and business process improvements, making the company an attractive acquisition target for both strategic and financial buyers [1].
Market Impact and Industry Trends
This strategic sale aligns with broader trends in the real estate sector, particularly in the waterproofing solutions segment [2]. The transaction is expected to have positive market implications, potentially increasing liquidity for Sier Capital [2]. The timing of this announcement follows an earlier disclosure on January 3, 2025, indicating a carefully orchestrated transition process [2].
Investment Strategy and Future Outlook
Sier Capital Partners, known for investing in lower middle-market companies with EBITDA between $2 to $20 million, demonstrated their strategic approach through this investment [1]. According to Kevin Ramsier, Managing Partner of Sier Capital Partners, the success was built on identifying strong macroeconomic fundamentals in the industry and making strategic investments ahead of market demands [1]. While specific future plans haven’t been disclosed, industry observers anticipate continued investment in waterproofing technologies [2].