Proviso Capital and Stonehenge Capital have made a majority investment in Algiere Construction Services Inc., a client of Generational Capital Markets, Inc., Member FINRA/SIPC. The transaction closed on November 1, 2018 and details were not disclosed.
Algiere Construction, based in Plano, Texas, is a general contractor that specializes in renovation and conversion services for the hospitality industry, offering full turnkey design/build solutions from general construction and interior design to purchasing and installation services. The company has completed projects across the country.
Headquartered in New York City, Proviso Capital invests in strong lower middle market companies in competitive niche industries. The private equity firm lends its full support to businesses it acquires both financially and operationally. The acquisition of Algiere marked the second Generational Group client Proviso has acquired.
Proviso Capital partnered with Stonehenge Capital on the acquisition. Stonehenge Capital is a national specialty finance firm offering growth capital, tax credit, and community development services.
“I firmly believe this is very good news for our employees and clients, alike. Together we will build from a position of unparalleled experience and strength. The combined insight of our two industries will be an excellent foundation for our clients, their experience, our future growth and expansion through key acquisitions,” said Robert Algiere, CEO of Algiere Construction Services.
Generational Capital Markets VP Julio Dominguez was the lead dealmaker and guided the deal to a successful closing. Generational Equity Senior Managing Director Gerry Gacek established the initial relationship with Algiere Construction.
"It was an honor to work with Bob Algiere as well as working with Proviso Capital on this transaction," said Dominguez.
"Both parties saw that their interests were aligned early in the process which ultimately drove the process. I look forward to seeing the partnership and the business grow."
Our team at Generational Capital Markets have an extensive history of supporting successful transactions such as this in the construction sector, offering hands-on guidance and helpful expertise every step of the way.
If you’d like to learn more about other deals completed in this active industry, visit our dedicated Construction & Engineering page.
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