BaseRock Partners is pleased to announce the sale of Allied Construction Services ("Allied") to an Employee Stock Ownership Plan (ESOP).
DENVER, March 17, 2025 /PRNewswire-PRWeb/ -- BaseRock Partners is pleased to announce the sale of Allied Construction Services ("Allied") to an Employee Stock Ownership Plan (ESOP). BaseRock Partners ("BaseRock") served as the exclusive financial advisor to Allied Construction Services throughout this process.
Founded in 1950 in Des Moines, Iowa by Robert Maddox, Allied Construction Services has built a reputation as one of the Midwest's most trusted interior construction companies. With over 70 years of experience, Allied partners with general contractors, architects, developers, and building owners to deliver high-quality construction solutions. To support its continued growth, the company has expanded across Iowa, Illinois, Nebraska, and Kansas. In the early 1970s, Allied acquired Color Inc., now one of the largest painting contractors in the Midwest.
"Pursuing an ESOP was a natural choice for our company. We wanted to ensure our founder's legacy lived on while preserving the culture and reputation that set us apart. Selling to an outside buyer couldn't guarantee that continuity but transitioning ownership to the very people who helped build our success did," said Bob Maddox, Chairman of Allied Construction.
"Our accounting firm introduced us to BaseRock Partners, and from day one, they instilled confidence in us," Maddox added. "Their deep expertise and ability to clearly outline each step of the process made all the difference. The BaseRock team was with us every step of the way; educating, advising, and ensuring we had everything in place to achieve a successful outcome. Their professionalism and strategic guidance were invaluable. We couldn't be more pleased with our experience and would highly recommend BaseRock to any company considering an ESOP."
Media Contact
Matthew Drake, BaseRock Partners, 1 312.882.7649, [email protected], https://baserockpartners.com/
SOURCE BaseRock Partners
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