North Carolina's Premier Restoration Company Sold to Strategic Buyer, BMS CAT
Highland Construction becomes eighth investment in BMS CAT's aggressive strategic growth plan
About the Company
The story of Highland Construction began like so many of their customer's stories. In 1981, the Strickland family experienced a devastating loss when their home caught fire. The property needed major repairs, and Gary Strickland Sr. convinced the insurance company to let him run the restoration project. An insurance adjuster came to the property, created a budget for repairs, and Gary Strickland Sr. went to work hiring subcontractors to repair the damage.
Once he was finished, the insurance adjuster was so pleased with his work, they asked him to help on other projects as well. Gary's sons Kenny & Gary Jr. joined the company years after it was founded, and Kenny Strickland eventually took over operations. Over the years, Kenny would lead the company to new heights. On the company's forty year anniversary, Highland Construction had grown to 50 team members and locations in Fayetteville, Wilmington, and Raleigh North Carolina.
How MidStreet Helped
Using MidStreet’s proven process, Highland Construction attracted over 60 initial inquiries. Each buyer was then interviewed, and required to complete an NDA and provide a personal financial statement. Ultimately, MidStreet prequalified approximately 20 strategic & private equity buyers who were then given access to the marketing materials.
Acquisition by BMS CAT
The buyers, BMS CAT, immediately stood out as one of the best cultural fits for the company. Although there were several quality candidates, Kenny Strickland and his family felt most comfortable with their team, and felt confident they would take care of the employees.
On August 5th, 2022 BMS purchased Highland Construction, making it the eighth acquisition in the company's aggressive growth initiatives.
"BMS CAT is pleased to announce our strategic acquisition of Highland Construction. We have viewed the North Carolina marketplace as a key geography in our company's growth strategy. Kenny Strickland has built a tremendous business over the last 41 years, and we are excited to merge our two rich cultures together as one company. By doing so, we will be able to provide the best restoration and construction services to our combined customers. Highland Construction's commitment to quality is exemplified through their remarkable team of employees."
- Tom Head, President & CEO of Blackmon Mooring & BMS CAT
