April 14, 2022
HOUSTON,TX (April 14, 2022) – Gilbert & Pardue LLC (“GaP”) acted as advisor to Formwork Services & Supply (“FWS”) of Houston, TX in its sale to Freestone Partners, LLC of Houston, TX. The transaction closed on April 7, 2022, in Houston.
FormworkServices & Supply is a privately-held company dedicated to renting and servicing the profitable use of engineered concrete forming & shoring systems to the construction industry throughout the Greater Houston area, Austin, San Antonio, and the surrounding Gulf Coast communities for over 40 years. Owner Mike Bishop expressed, “Fifty dedicated men and women have made Formwork Services & Supply a recognized specialist within the engineered concrete forming and shoring systems throughout Texas.”
GaPfounding partner, Matt Gilbert, commented, “FWS and Freestone Partners are a great match, and we know the union will be good for all involved. Both teams are to be congratulated. Dave Sloan (attorney for FWS) was instrumental in getting this transaction across the finish line.”
ABOUT THE COMPANIES
Formworks Services & Supply
Since 1982, Formwork Services & Supply has helped businesses in Houston and the surrounding areas create inspiring landmark structures that defy the imagination. With a cumulative 200+ years of experience and the efforts of its tireless staff, FWS has assisted construction companies in forming hundreds of thousands of tons of concrete.
Unlike most national companies that handle only their brands of forming and shoring systems, FWS has purposefully trained its staff in the best uses and applications of all forming and shoring systems. As a result, the Company is an authorized distributor for the best-known international formwork brands in the concrete forming, shoring, and concrete accessory supply and rental business. FWS has over $30,000,000 of rental equipment stock available in its Houston equipment yard.
Freestone Partners, LLC
Freestone Partners is a private equity firm focused on companies with potential for substantial growth. The firm mainly invests in companies within the Manufacturing, Value-added Distribution, Industrial Services, Environmental Services, Business Services, and Transportation sectors. Freestone focuses on companies headquartered in the Southeastern and Southwestern United States but also considers unique opportunities anywhere domestically. Freestone looks for attractive business models coupled with a strong, experienced management team and prefers transactions where the sellers and/or management team desire to remain invested after Freestone acquires control. The firm’s belief is that value is created by delivering excellence in four fundamental areas: a sound investment process, solid management, viable business strategies, and outstanding operating execution.
GaP Transaction Advisors
Gilbert & Pardue Transaction Advisors (GaP) is a Houston-based business advisory firm serving lower middle and middle market business owners from coast to coast through sell-side and buy-side representation for Mergers & Acquisitions (M&A).
Matt Gilbert and Bret Pardue established GaP to provide owners of businesses generally enjoying annual revenue of $10-$80 million with the quality of M&A representation and value-enhancement services previously only available to upper middle and large businesses. GaP brings highly-experienced executives, sophisticated financial and marketing products, proven-effective processes, and fully-integrated expertise to every engagement.
For more information, contact:
GaP Transaction Advisors
Bret Pardue, Founding Partner
Matt Gilbert, Founding Partner