The deal transforms OBC into an employee-owned ESOP, expands ACME presence in Florida
Industry: Construction
Location: St. Louis, MO
The DVS Group Role: Buyside Advisory
The DVS Group is pleased to announce that ACME Constructors (ACME), advised by Kevin Lindsey and Duncan Groff of The DVS Group (DVS), has acquired Ogden Brothers Construction, LLC (OBC). The deal transforms OBC from a privately held company into an employee-owned ESOP. The deal closed on Tuesday, September 20th, 2022.
The deal provides ACME geographical, business line, and end market diversification. The acquisition, while a great business fit, is also an ideal employee and culture fit, positively impacting hundreds of employees.
DJ Simmons, CEO of ACME, commented: “I’m excited to have acquired Ogden-it aligns so well with ACME and our culture. This was our first acquisition with significant complexity to it. Kevin Lindsey’s knowledge and background helped us understand what we could achieve. Once we made the choice to move forward with Ogden, Duncan Groff’s skills with details and numbers truly supported me over the past year. He was an extension of ACME, working as our CFO for virtually the entire duration of this negotiation.”
Owners Rob Ogden, Tom Ogden, and Charlie Villasante are excited for OBC to join the ACME portfolio and to provide employee ownership opportunities through a strong, established ESOP. Rob Ogden characterized the deal as a “perfect fit for our employees to be part of an ESOP with such good people; the opportunity felt like a ‘God thing’”.
Lindsey and Simmons are both members of Vistage, which Lindsey credits for positively impacting the successful execution of the deal:
“The Vistage community is unmatched when it comes to business mentorship. You are surrounded by other CEO’s who work in different industries, but you are all tackling the same problems. It has been great to see DJ lean into his Vistage resources and connections to help him successfully navigate so many important nuances of the acquisition process for ACME’s first significant deal. It definitely helped us help ACME.”
The DVS Group Deal Team
Kevin Lindsey, Founder, Managing Partner
Duncan Groff, CFA, Associate
About ACME Constructors
ACME Constructors is a structural steel erector and fabricator specializing in industrial construction. The company delivers automotive, bulk handling, pharmaceutical, manufacturing, chemical and power solutions for its diverse range of clients, ranging from small businesses to Fortune 500 companies. Founded in 1947, ACME is a 100% employee-owned and managed company. ACME is headquartered in St. Louis, MO, with a second office located in Columbia, MO.
About Ogden Brothers, LLC
Since its founding in 2005, Ogden Brothers has completed over 550 projects, specializing in tilt wall construction, concrete and masonry, and structural steel. Along with their dedicated crews completing projects across Southwest Florida, the OBC facility also houses overhead cranes and an automated beamline, which allows the firm to complete nearly all of their jobs in-house.
Ogden’s primary facility is located in Fort Myers, FL, with a secondary facility near Tampa Bay in Palmetto, FL.
About The DVS Group
The DVS Group is a boutique, socially conscious investment bank and advisor, committed to making change positive. Since 2004, the firm has developed a specialization representing individuals and companies acquire businesses throughout the United States. Their team understands business ownership has massive potential to positively impact individuals, communities and the world. For example, DVS puts a significant focus on working with ESOPs to generate wealth for employee-owners, as well as AbilityOne nonprofit agencies acquiring and operating businesses to further their missions of increasing employment and dignity for the blind and visually impaired.