Generational Group Advises Smith Excavating, LLC in its Sale to Enceladus Partners

DALLAS--(BUSINESS WIRE)--Generational Group, a leading mergers and acquisitions advisory firm for privately held businesses, is pleased to announce the sale of Smith Excavating, LLC to Enceladus Partners.

Headquartered in Winston-Salem, North Carolina, Smith Excavating, LLC is a second-generation, family-owned company specializing in annual right-of-way vegetation management, infrastructure asset repair & maintenance, and industrial site services. With over 20 years of experience, the company primarily services government, utility, and infrastructure customers throughout the Mid-Atlantic region. Committed to quality and safety, Smith Excavating leverages proprietary technology and advanced equipment to provide a white glove service ensuring utility systems operate efficiently and sustainably.

Enceladus Partners is a private investment firm focused on acquiring and growing lower middle-market businesses. With a long-term, partnership-oriented approach, the firm collaborates with business owners and management teams to drive sustainable growth and operational excellence. Enceladus Partners brings strategic expertise, industry knowledge, and a commitment to preserving the legacy of the companies it invests in.

Generational Group Executive Managing Director, M&A, Eastern Region – David Fergusson, and his team led by Managing Director, M&A, Jack Sluiter, with the support of Senior Vice President, M&A, Tristan Keeffe, successfully closed the deal. Senior Managing Director, Doug Morrow and Senior M&A Advisor, Bryce Gray established the initial relationship with Smith Excavating, LLC.

“I am very happy to see another great client successfully monetize their years of hard work and personal investment,” said Sluiter. “This is a transformative step in the Company’s history, and we’re excited for the future of Smith Excavating.”

Ryan Binkley, CEO of Generational Group, added, “This transaction shows our dedication to meaningful, long-term partnerships. It brings together partners who share a common vision and are ready to continue their growth together.”

About Generational Group

Generational Group, headquartered in Dallas, TX, is a leading, award winning full-service M&A advisory firm. Generational has over 300 professionals across 16 offices in North America. The firm empowers business owners to unlock the full value of their companies through a comprehensive suite of services—including strategic growth consulting, exit planning education, business valuation, value enhancement strategies, M&A advisory, digital solutions, and wealth management.

Celebrating its 20^th year, Generational has successfully closed over 1,700 transactions and has ranked #1 or #2 in all LSEG league tables for deals valued between $25 million and $1 billion in 2022, 2023, and 2024.

The firm was named 2024 USA Investment Banking Firm of the Year by the Global M&A Network and recognized as Investment Banking Firm of the Year by The M&A Advisor in 2022, 2024, and 2025.