Succession Capital Portfolio Company, JES Companies acquires South Carolina company
Private-equity firm Succession Capital Partners (SCP) announced Monday that its portfolio company, JES Companies, has purchased Mount Valley Foundation Services of Columbia, S.C.
JES is one of the largest providers of foundation repair, crawl space moisture management and basement waterproofing in the mid-Atlantic. The company has seven offices serving customers in Virginia, Maryland, Washington, D.C., North Carolina, South Carolina, Georgia and Indiana.
Jesse Waltz, president of JES, co-founded JES Foundation Repair with his wife Stella in 1993. Waltz expanded the business throughout Maryland, Washington, D.C., Virginia, North Carolina and Indiana during the last 23 years. It is headquartered in Virginia Beach In 2016, JES partnered with Succession Capital Partners and brought on Matt Malone, Succession’s managing partner as CEO.
Allan Gantt opened Mount Valley Foundation in 1986 in Columbia. During the past 30 years, Mount Valley has expanded its service area throughout South Carolina, North Carolina and Georgia.
Mount Valley’s South Carolina location will be added to JES’ five branch offices in Virginia; Manassas, Richmond, Appomattox, Roanoke and Virginia Beach; as well as one branch office in Indianapolis. JES Companies’ acquisition of Mount Valley extends JES’ service area throughout the coastal Southeast and Midwest.
JES will infuse Mount Valley with new capital and access to professional engineers on staff, fleet and technological upgrades.
Waltz and Malone will oversee and support the acquisition to assure a seamless union of the two companies. Mount Valley will continue marketing under its same name and will be launching a new corporate identity program that will include a new logo, website, marketing materials, trucks, and sales support collateral over the next several months.