Construction beams and dirt
Case Study

GeoStructures sells to Platinum Equity-backed Terratest

Construction beams and dirt
Case Study

GeoStructures sells to Platinum Equity-backed Terratest

Client need

GeoStructures, a family of ground improvement engineering and construction firms, is recognized as the Mid-Atlantic’s premier provider of ground improvement solutions. The companies are known for their world-class design-build solutions to some of the most challenging ground improvement projects in the region.

As Michael Cowell, founder and CEO of GeoStructures, began to approach the age of retirement, he realized it was necessary to transition the business to new ownership. In particular, he desired to find a buyer that understood the mix of engineering and construction services provided by his family of companies, which consists of GeoStructures, Inc., GeoConstructors, Inc. and Ground Improvement Services, Inc. (collectively GeoStructures).

Having prior experience and satisfaction with professionals at Baker Tilly Virchow Krause, LLP gave Cowell confidence in choosing Baker Tilly Capital as his investment bank to market the family of companies.

Baker Tilly Capital solution

The investment banking team at Baker Tilly Capital worked closely with Geostructures throughout the sale process. Our team assessed GeoStructures’ current state and conducted an extensive marketing process to more than 50 potential buyers, looking for the right strategic fit to help foster growth opportunities for GeoStructures into the future.


The outcome of the transaction process matched GeoStructures with Terratest, a leading international provider of geotechnical engineering and foundations solutions, and a platform company of Platinum Equity. Terratest, which is based in Madrid and operates in 25 countries across the globe, was looking to gain access to the U.S. market. The acquisition of GeoStructures helps them achieve this goal, while also creating many synergies and new opportunities for both organizations moving forward.

Cowell realized his objective to pair GeoStructures with a strategic partner for the future. More importantly, Cowell will continue to lead GeoStructures as president and CEO.

 “Being part of the Terratest Group will give us access to additional technology and intellectual capital, which will broaden the services we can offer our clients. We are excited by the new opportunities that this deal provides.”Michael Cowell, Founder and CEO – GeoStructures

For more information on this deal, or to learn how Baker Tilly Capital specialists can help, contact our team.

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