GA Sports Construction (“GA Sports”), founded in 1958, is a leading construction business specializing in the installation, resurfacing, and maintenance of sport courts, running tracks, and artificial turf fields in the Southwest. The acquisition by AstroTurf Corporation, a portfolio company of KPS Capital Partners, provides GA Sports with additional resources to strengthen its presence in the region while preserving its dynamic culture and team.
The Goal
The Company’s sole shareholder’s primary goal was to find a buyer who would preserve GA Sports’ culture, protect its employees, and allow the shareholder to retire shortly after the sale. Clark Hill PLC, the Company’s legal counsel, recommended Cascade Partners as the advisor to help the client achieve these objectives.
Approach
Cascade’s engagement with the Company began by gaining a deep understanding of the shareholder’s goals and the Company’s market position. The Cascade team conducted a detailed market assessment to develop a strategic plan aimed at how to most effectively achieve the seller’s goals. With the majority of M&A activity driven by a small number of industry players, Cascade decided to utilize a targeted marketing plan aimed at acquisitive market participants. This allowed Cascade to expedite the sale process, focus on critical value aspects that would appeal to market participants, and drive competitive dynamics to maximize value.
Execution
Cascade’s strategy proved effective as its tailored approach minimized disruption to the business and generated multiple formal expressions of interest that exceeded client expectations. Cascade took a lead role in coordinating and aligning the management team, attorneys, and quality of earnings provider, ensuring all parties were informed, engaged, and working efficiently towards a close. This quarterbacking contributed to a smooth due diligence and closing process.
“The team at Cascade was instrumental in guiding us through the sale process. Their industry expertise, strategic insights, and hands-on approach helped us navigate each stage with confidence. From positioning GA Sports to attract the right buyers to negotiate a successful outcome with AstroTurf, their commitment to our goals was evident every step of the way. I truly appreciated their professionalism, transparency, and dedication to delivering the best possible result for our business and team.”, commented the owner, Jonnie Deremo.
Conclusion
Cascade’s personalized and strategic approach led to a successful transaction with a strategic buyer who the seller felt would uphold the Company’s culture, take care of the employees, and allow the seller to transition out of the Company after a relatively short training period for his successor. This further highlights the importance of Cascade’s approach of gaining a deep understanding of all our client’s needs upfront, assessing the unique market dynamics of every transaction, executing a strategy specific to each client, and maintaining open communication throughout the transaction process.
Cascade Partners served as the exclusive financial advisor to GA Sports Construction.