Heritage Capital Group facilitates acquisition of Baker Constructors by C.W. Matthews Contracting Company
Heritage Capital Group, a renowned investment banking and financial advisory firm, has successfully orchestrated the acquisition of Baker Constructors by C.W. Matthews Contracting Company. This strategic move marks a significant development in the construction industry, particularly within the heavy highway and site development sectors in the Southeastern United States.
Details of the Acquisition
Baker Constructors, a prominent contractor based in Savannah, Georgia, with an additional regional office in Jacksonville, Florida, has been a key player in the region, providing a wide range of services including infrastructure, utilities, site grading, and civil construction projects from Virginia to Florida.
C.W. Matthews Contracting Company, founded in 1946, stands as a leader in heavy highway construction throughout Georgia. With a storied history that began shortly after World War II, C.W. Matthews has significantly expanded its capabilities over the decades to include building reliable roads, bridges, interstates, and airports, catering to the state’s growing infrastructure needs.
The transaction was skillfully managed by Steel Beach Advisors, LLC, the real estate and business brokerage affiliate of Heritage Capital Group. The deal team, led by Dan Edelman, Bill Nicholson, and Chase Nicholson, played a crucial role in facilitating this acquisition, ensuring a smooth transition that aligns with the strategic goals of both companies.
Impact and Future Prospects
Robert Baker, President of Baker Constructors, lauded the efforts of the Heritage team: “The Heritage team’s responsiveness to our needs, as well as the buyer’s and their attorneys, allowed us to complete this transaction quickly and efficiently,” he stated. “We could not have achieved our goals in this transaction without their consultation and advice.”
The acquisition by C.W. Matthews is expected to not only enhance its operational capabilities but also expand its geographical reach across the Southeast. This merger is anticipated to leverage the combined expertise and resources of both entities to meet the increasing demand for infrastructure development in the region.
The terms of the transaction were not disclosed, maintaining the confidentiality typical of such strategic business movements.