Business Wire | June 27, 2022
Transformative acquisition scales Watterson’s national capabilities
LOS ANGELES & CHICAGO – Watterson, a leading national facility services company and a portfolio company of Highview Capital (“Highview”), today announced its acquisition of Bassett Creek Services, Inc. (“Bassett Creek” or “BCS”), a national leader in restoration and renovation services.
“With its industry-leading service profile, Bassett Creek Services is a clear strategic fit that cements Watterson’s transformation into a national leader in the restoration and recovery space”
Headquartered in Chicago, Illinois, Bassett Creek provides mission-critical restoration, renovation, and specialty services to a diverse group of commercial and residential clients. The company is comprised of five leading brands – J.R. Johnson, Cornerstone Renovation Group, Region Construction Group, Baxter Restoration, and Disaster Restoration Pros – with complementary capabilities and expertise that allow BCS to holistically service customers across the nation. Since its founding in 2018, BCS’s brands have performed work in 23 states and established a track record of operational excellence and customer loyalty.
Following the close of the transaction, BCS’s leadership team, led by Chief Executive Officer Daniel O’Brien, will join the Watterson family to drive continued growth in the business. BCS operations will run concurrently with Watterson’s, significantly strengthening the company’s offerings and geographic scale, while also providing additional reoccurring revenue from BCS’s entrenched customer base.
Daniel O’Brien, Bassett Creek Services Chief Executive Officer, commented, “Over the past four years, we’ve built Basset Creek Services into one of the nation’s leading restoration and renovation services platforms through our unwavering focus on consistently delivering excellence to our customers. This partnership between BCS and Watterson will allow us to build the national leader in restoration recovery services while providing continuity for our customers, brands, and employees.”
“BCS’s leading market position, highly-trained employee base and extensive service offerings will immediately accelerate Watterson’s strategy in the restoration and renovation space,” said Steve Peldiak, Chief Executive Officer of Watterson. “The combination establishes Watterson as a national leader in a fragmented space, with an expansive geographic footprint, technology platform, and portfolio of services. We look forward to working with Dan and team alongside continued support from Highview as we continue scaling the existing platform, further expanding service offerings and deepening industry partnerships.”
“With its industry-leading service profile, Bassett Creek Services is a clear strategic fit that cements Watterson’s transformation into a national leader in the restoration and recovery space,” said Steve Russell, Senior Portfolio Manager of Highview Capital. “We look forward to partnering with both the Watterson and Bassett Creek Services teams to position the business for the future, including continued acquisitions of complementary businesses in the restoration, renovation, and facility services space nationally.”
About Bassett Creek Services
Bassett Creek Services provides restoration and renovation services for commercial and residential clients nationwide. Bassett Creek has built an industry leading track record by prioritizing efficiency, communication and quality for every client. For more information, visit www.bassettcreekservices.com.
Watterson provides facility management, environmental and emergency response services to a national base of blue-chip customers. Watterson is headquartered in Schaumburg, Illinois, with offices across the country. For more information, visit www.wattersonefm.com
About Highview Capital, LLC
Highview Capital, LLC is an opportunistic private equity investment vehicle headquartered in Los Angeles, CA providing transformational equity. Highview leverages its creative vision and expertise to partner with management teams of leading middle-market businesses undergoing periods of transformation. For more information, visit www.highviewcapital.com.