Denver-based MCG Civil, a national heavy construction business with over $100 million in revenue, has acquired Charlotte-based Horsepower Site Services, a leading regional provider of specialty construction services including grading, underground utilities, erosion control, concrete, paving, etc. SF Managing Director Dave Gilroy and Partner Bill Schiffli managed this transaction process end-to-end.
Horsepower Site Services, LLC (www.horsepowerss.com) is based in Charlotte, NC. The company is recapitalized in this transaction with prior ownership, Ryan Hamrich, Scarlet Hamrich, and Miles Hedrick, retaining a large minority stake and continuing to lead and operate the business.
Horsepower provides a range of construction site services for more than 50 real estate developers, general contractors, and other corporations. HSS’s specialized services include grading and excavation, erosion control, installing utilities, storm drain, water distribution lines, sanitary sewer, asphalt paving, concrete curb & gutter, sidewalks, demolition, and underground detention systems.
Horsepower is on the forefront of implementing advanced technologies (e.g. GPS-controlled bulldozers, Drone LIDAR surveying, in-house 3D site modeling) in providing these services and is well recognized as an innovator in the North Carolina market. Moreover, Horsepower adheres to green building practices in all that the company does.
The MCG Civil (www.mcgcivil.com) management team has spent a combined 80 years working specifically in the heavy civil construction industry. After building one of the largest locally owned civil construction companies in Colorado – MCG is now acquiring and managing companies performing heavy civil capabilities within the broader United States.
Using their national relationships to broaden and diversify revenues, increase purchasing power and improve economies scale, MCG becomes directly involved in growing these acquired operators across the county. By empowering existing employees and providing the tools and knowledge necessary to accelerate growth, MCG aims to provide strong risk adjusted returns and upward mobility for those operating locally and regionally within the construction industry.
MCG is owned by HEI Civil. Started more than 45 years ago by brothers Dan and Bill Hudick, HEI Civil is a large locally-operated heavy civil contractor in Colorado.
About Scale Finance
Scale Finance LLC (www.scalefinance.com) provides contract CFO services, Controller solutions, and support in raising capital, or executing M&A transactions, to entrepreneurial companies. The firm specializes in cost-effective financial reporting, budgeting & forecasting, implementing controls, complex modeling, business valuations, and other financial management, and provides strategic help for companies raising growth capital or considering M&A/recapitalization opportunities. Most of the firm’s clients are growing technology, healthcare, business services, consumer, and industrial companies at various stages of development from start-up to tens of millions in annual revenue. Scale Finance has multiple offices in the Carolinas including Charlotte, Raleigh/Durham, Greensboro, and Wilmington with a team of more than 45 professionals serving more than 130 companies throughout the region.
