Platinum Equity's Terratest expands construction services with Geostructures
Terratest, a portfolio company of private equity firm Platinum Equity, has purchased construction services firm Geostructures Inc. The deal comes days after the firm added WS Packaging Group Inc., a label and packaging service provider to small and large consumer product manufacturers, to its portfolio.
Founded in 1995, Geostructures provides engineering and construction services for ground improvement and slope stability needs. The Purcellville, Virginia-based target also offers earth retention, foundation support and wall construction services for the commercial, industrial and transportation industry across the U.S.’ mid-Atlantic region. Financial terms of the deal were not disclosed.
Terratest CEO Enrique Torres says Geostructures is “a great fit for Terratest, and provides an ideal entry into the U.S. market as we continue growing our business. The combination will create many synergies and new opportunities for both companies.”
Founded in 1995 by Detroit Pistons owner Tom Gores, Platinum Equity is a Los Angeles-based private equity firm with more than $6 billion in capital under management. The firm has completed more than 200 acquisitions since inception.
Platinum Equity acquired Terratest, a ground improvement service provider, in 2014. The deal for Geostructures is intended to expand the portfolio company’s foundation services. Terratest, headquartered in Madrid, Spain, currently operates in 25 countries throughout Europe, Africa, Latin America and the Middle East.