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Draft:Groundworks

Groundworks
TypePrivate
IndustryConstruction, home services
Founded2016; 10 years ago (2016)
FounderMatt Malone
Headquarters
Virginia Beach, Virginia
,
U.S.
Area served
United States, Canada
Key people
Doug Sanders (CEO)
Matt Malone (founder)
ServicesFoundation repair, basement waterproofing, crawl space repair, concrete lifting
OwnerKKR, Cortec Group
Number of employees
~7,500 (2026)
Websitewww.groundworks.com

Groundworks is an American residential foundation repair and water management company headquartered in Virginia Beach, Virginia. Founded in 2016 by Matt Malone, it provides foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting services to homeowners in the United States and Canada.[1][2] The company is vertically integrated, manufacturing the products used in its repairs and operating its own technician training program and software platform.[3] It has grown to more than 90 offices through a combination of new office openings and acquisitions.[2][4]

As of 2026 the company operated more than 90 offices with approximately 7,500 employees across North America.[3][4] In February 2023 the private equity firm KKR made a growth investment in the company alongside existing investor Cortec Group.[1][5] Qualified Remodeler ranked Groundworks seventh on its 2026 Top 500 list of the largest U.S. remodeling and home improvement companies by remodeling revenue.[6]

History

Groundworks was founded in 2016 by Matt Malone.[1][2] The company states that it has served more than one million homeowners.[3][4]

Cortec Group, a middle-market private equity firm, backed the company's early expansion.[7] On February 1, 2023, Groundworks announced a growth investment from KKR, made principally through the firm's North America XIII fund, with Cortec remaining a shareholder and board member. Terms were not disclosed.[1][5][8] At the time of the KKR announcement the company reported more than 4,000 employees operating in 33 states.[1]

Malone said the company had completed 12 acquisitions and opened six new offices during 2024, expanding to the West Coast and into Canada.[2] By July 2026 Doug Sanders was serving as chief executive officer.[4] That month Groundworks appointed Dan Tinker, chief executive of building products distributor SRS Distribution, to its board of directors. Tinker had led SRS through more than 100 acquisitions before its $18.25 billion sale to The Home Depot in 2024.[4]

Expansion

Groundworks has grown both by opening new offices and by acquiring established foundation repair businesses, generally using acquisitions to enter markets where it had no presence and new offices to add density in existing ones. In 2024 the company opened six new offices and completed twelve acquisitions, increasing its operating footprint by more than 20 percent.[2] Reported acquisitions include Bay Area Underpinning in California in 2023; URETEK South, Doug Lacey's Basement Systems in Canada, and Matvey Foundation Repair in Seattle in 2024; and WTX Foundation Repair, which extended the company into West Texas and New Mexico, in 2026.[9][10]

Services

Groundworks provides four principal categories of residential service: foundation repair, basement waterproofing, crawl space repair and encapsulation, and concrete lifting.[3] Groundworks serves both residential and commercial customers, and the products used in its repairs are manufactured by the company rather than sourced from third-party suppliers.[3] Inspections are offered without charge, and completed work carries a warranty.[3]

Service categories and methods
Service Methods and products used
Foundation repair Helical piers, push piers, wall anchors, wall repair systems, and crawl space supports[3]
Basement waterproofing Interior drainage systems, sump pumps, dehumidifiers, and window well repair[3]
Crawl space repair Encapsulation, floor joist repair, sump pumps, and mold remediation[3]
Concrete lifting Polyurethane injection for driveways, walkways, and slabs[3]

Conditions Groundworks identifies as indicators of foundation or water problems include uneven floors, cracks in basement floors and walls, wet basement floors, musty basement odor, crawl space mold, floor joist failure, and leaking window wells.[3]

Corporate affairs

Groundworks is headquartered in Virginia Beach and operated more than 90 offices in the United States and Canada as of 2026.[3][4] Manufacturing, technician training through an internal program the company calls Groundworks University, and its software platform are run centrally.[3] The company appeared on Inc. magazine's Inc. 5000 list of fastest-growing privately held American companies for eight consecutive years as of 2025.[2][11]

In the 2026 edition of the Qualified Remodeler Top 500, an annual ranking of U.S. remodeling and home improvement firms by remodeling revenue, Groundworks placed seventh, reporting $1.39 billion in 2025 remodeling revenue across 127,728 jobs and $1.46 billion in gross revenue.[6] Groundworks was one of eight companies on that list with more than $1 billion in remodeling revenue, a group that also included Leaf Home, Belfor, Power Home Remodeling, Great Day Improvements, Renuity, West Shore Home, and Window World. The ten largest companies in the ranking accounted for approximately 56 percent of total Top 500 remodeling revenue.[6]

Marketing and workforce

In September 2024, Groundworks named television host and skilled trades advocate Mike Rowe as its first spokesperson. The accompanying campaign, "Go Below with Rowe," consists of video segments in which Rowe works alongside Groundworks technicians on residential repair projects and explains warning signs and repair methods for foundation, basement waterproofing, and crawl space work. The first segment was filmed at a home in Rowe's native Baltimore.[12]

In March 2026, Groundworks announced a commitment to create 5,000 skilled trades jobs over five years.[13][14][4]

References

  1. ^ a b c d e "Groundworks Announces KKR as a New Strategic Partner to Support Growth" (Press release). Groundworks. February 1, 2023. Retrieved August 9, 2026 – via PR Newswire.
  2. ^ a b c d e f Andrews, Kate (March 21, 2025). "Virginia Beach-based Groundworks names new president, COO". Virginia Business. Retrieved August 9, 2026.
  3. ^ a b c d e f g h i j k l m "About Groundworks". Groundworks. Retrieved August 9, 2026.
  4. ^ a b c d e f g Warfield, Win (July 29, 2026). "Groundworks Adds Former SRS Distribution CEO Dan Tinker to Board of Directors". citybiz. Retrieved August 9, 2026.
  5. ^ a b "KKR invests in foundation repair company Groundworks". PE Hub. February 2023. Retrieved August 9, 2026.
  6. ^ a b c O'Toole, Patrick (August 6, 2026). "Qualified Remodeler Reveals the Top 20 of the 2026 Top 500". Qualified Remodeler. Retrieved August 9, 2026.
  7. ^ "Groundworks Announces New Strategic Investment Partnership". Cortec Group. Retrieved August 9, 2026.
  8. ^ "KKR to Invest in Groundworks". Simpson Thacher & Bartlett. February 3, 2023. Retrieved August 9, 2026.
  9. ^ "Groundworks Expands to West Texas and Enters New Mexico Market with Acquisition of WTX Foundation Repair". Yahoo Finance. 2026. Retrieved August 9, 2026.
  10. ^ "Groundworks enters Pacific Northwest by acquiring Matvey Foundation Repair Inc. in Seattle". FinancialContent. June 27, 2024. Retrieved August 9, 2026.
  11. ^ "Groundworks". Inc. Retrieved August 9, 2026.
  12. ^ "Groundworks Partners with Mike Rowe as Part of Brand's Initial Spokesperson Campaign" (Press release). Groundworks. September 16, 2024. Retrieved August 9, 2026 – via GlobeNewswire.
  13. ^ "Groundworks Commits to Create 5,000 New Skilled Trades Jobs in Five Years" (Press release). Groundworks. March 23, 2026. Retrieved August 9, 2026 – via Business Wire.
  14. ^ "Groundworks aims to train 5,000 trade frontliners to meet repair crisis". HousingWire. Retrieved August 9, 2026.

Category:Construction and civil engineering companies established in 2016 Category:Companies based in Virginia Beach, Virginia Category:American companies established in 2016 Category:Home improvement companies Category:Private equity portfolio companies

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