DALLAS--(BUSINESS WIRE)--Generational Equity, a leading mergers and acquisitions advisor for privately held businesses, is pleased to announce the sale of its client, ASR Construction, Inc. to Interstate Restoration. The acquisition closed July 15, 2019 and details were not disclosed.
ASR Construction, located in Oxnard, California, is Ventura County’s largest restoration company. ASR’s professional and certified team offers 24/7 service and specializes in water damage removal & repair, fire damage repair & restoration, mold remediation, sewage damage, trauma scene clean-up, asbestos abatement, board-ups to property and emergency pack outs. The Company is a licensed contractor in California and holds certifications from a number of organizations based on its expertise in restoration and remediation.
Interstate Restoration, headquartered in Ft. Worth, Texas, is one of the largest emergency restoration and reconstruction service providers for commercial enterprises in North America. With more than 50 locations spread across the U.S. and Canada they have a proven record of providing rapid disaster response in every corner of North America. Throughout their more than 20-year history, they have constantly focused on delivering outstanding customer experiences and building their reputation on industry-leading safety programs and job quality. That’s why everyone from Fortune 500 companies to small businesses turn to Interstate Restoration to get back to business after disasters.
“We are eager to combine forces with Interstate Restoration as we help businesses in Southern California recover from wildfires, floods, mudslides and other disasters,” said Kirk Prouse, founder and CEO of ASR Construction. Prouse will continue to provide his expertise in the Southern California market, serving as regional director of Southern California.
“We are pleased to welcome the excellent managers and staff of ASR into the Interstate Restoration family, and we look forward to the additional strengths that this new combination will give us in Southern California,” said Interstate CEO Stacy Mazur.
Generational Equity Executive Managing Director of M&A – Western Region, Stephen Crisham with support from Managing Director-Western Region, Lori Galloway, successfully closed the deal. Senior Managing Director Thomas Hamm established the initial relationship with ASR Construction.
“ASR Construction has a strong foothold and name recognition in Ventura County and the surrounding regions,” said Crisham. “This made it a particularly attractive target for Interstate Restoration who is looking to further expand its presence in the Southern California emergency restoration market.”
About Generational Equity
Generational Equity, Generational Capital Markets (member FINRA/SIPC), Generational Wealth Advisors, and DealForce are part of the Generational Group, which is headquartered in Dallas and is one of the leading M&A advisory firms in North America.
With over 250 professionals located throughout North America, the companies help business owners release the wealth of their business by providing merger, acquisition, and wealth management services. Their five-step approach features exit planning education, business valuation, value enhancement strategies, M&A transactional services, and wealth management.