20th acquisition creates largest foundation services company in Pennsylvania
Virginia Beach, VA (July 19, 2021) – Groundworks®, the nation’s leading foundation services company, continues to transform the foundation services industry with the acquisition of I’m the Guy Basements based in central Pennsylvania. As part of the acquisition, I’m the Guy Basements will unite with western Pennsylvania-based Baker’s Waterproofing, a Groundworks company acquired earlier this year. The two award-winning Pennsylvania companies, will now be united under one brand, Baker’s Waterproofing. The combined organization will form the largest and most reputable foundation services and waterproofing company in the state.
Industry veteran, Jake Waltz, founded I’m the Guy Basements in 2009, providing trusted basement waterproofing and foundation repair solutions to homeowners in central and eastern Pennsylvania. The company experienced significant growth over the past decade and earned the trust and recognition of the local community, winning several local awards.
This marks the 20th acquisition for Groundworks since starting operations in 2016. With 40 offices and more than 3,200 employees nationwide, the company currently provides industry-leading foundation and water management solutions to customers across the country.
“I’m the Guy Basements has had extraordinary growth over the last few years and the business continues to grow. Partnering with Jake Waltz and his team allows us to further expand our footprint in Pennsylvania as we move deeper into the Mid-Atlantic and New England,” said Matt Malone, Founder and CEO of Groundworks. “The Groundworks commitment to the I’m the Guy Basements team is to invest in the business – with a new building, new technology, new assets for the fleet and unlimited personal and professional growth for the employees. With aggressive expansion plans, employees will not only have more opportunities in Pennsylvania, including ownership, 401K and profit sharing programs, but will also have opportunities for growth at our other 40 locations across the country.”
“The partnership with Groundworks and Baker’s Waterproofing means my company, and the employees who built it with me, will have exponential growth opportunities,” said Founder Jake Waltz. “Baker’s Waterproofing and I’m the Guy Basements have been the two largest contractors in the state that do what we do, and now we can do it together.”
With this acquisition and merger, Baker’s Waterproofing plans to continue to expand its operations and services, offering customers in Pennsylvania unmatched customer service, industry-leading foundation solutions, and a nationally backed warranty program.
Groundworks® is the nation’s leading and fastest-growing foundation services company. Headquartered in Virginia Beach, VA, the company currently provides foundation and water management solutions including, foundation repair, basement waterproofing, crawl space repair and encapsulation and concrete lifting services. Since 1975, the combined companies have helped nearly 1.5 million homeowners protect and repair their most valuable asset, their home. Groundworks operates over 40 offices and has been named numerous times to the Inc. 5000 Fastest Growing Companies, BBB integrity award, and Best Places to Work.
For more information about Groundworks, please visit: https://www.Groundworks.com.