Press Release

GeoStructures Sells to Platinum Equity-backed Terratest

PHILADELPHIA (March 29, 2018) – Baker Tilly Capital, LLC, a boutique investment bank for middle-market businesses, is pleased to announce the successful acquisition of its clients, GeoStructures, Inc., GeoConstructors, Inc. and Ground Improvement Services, Inc. (collectively GeoStructures) by Terratest, a platform company of Platinum Equity, headquartered in Madrid, Spain.

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.

Baker Tilly Capital served as the exclusive advisor to GeoStructures in connection with this transaction, developing and implementing the transaction process, which culminated in the successful sale to Terratest. The outcome of the transaction matched strategic and financial buyers to the seller with a shared vision of accomplishing the company’s future goals.

“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,” Michael Cowell, founder and CEO of GeoStructures, said. “We are excited by the new opportunities that this deal provides.” Cowell will continue to lead the company.

“We were pleased to offer our services to the GeoStructures family of companies as Michael’s financial advisor during the transaction,” Kevin Rudd, executive managing director with Baker Tilly Capital, said. “Our team truly enjoyed working with Michael as he transitioned the companies to new ownership that met his goals and objectives.”

To learn more about Baker Tilly Capital’s investment banking services, visit

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