DarbridgeAdvisors LLC

Transaction Experience

Case Studies

A selection of transactions managed by Darbridge Advisors LLC — spanning private equity investments, strategic acquisitions, and multi-generational family business sales across Texas and the Gulf Coast.

Case Study 01
Private EquityFounder ExitManagement Buyout

Founder Transition & Private Equity Partnership

Civil Infrastructure — Central & South Texas

Industry
Civil Construction
Deal Type
Majority Investment
Timeline
Closed October 2021
Outcome
Successful Founder Exit & Management Continuity

The Challenge

A Greater Austin Development (AGADCO), a 37-year-old civil concrete construction company and the market leader in Central and South Texas, faced a pivotal ownership transition. Founder Bobby Finley was ready to retire after building one of the region's most respected infrastructure contractors — completing roads, bridges, water treatment structures, dams, and athletic facilities across the Austin area. The challenge was structuring a transaction that honored the founder's legacy, provided a meaningful liquidity event, and ensured that the management team — who had driven the company's success — was properly incentivized and empowered to lead the next chapter of growth.

Our Approach

Darbridge managed the transaction process on behalf of the company, identifying Tulcan — a Houston-based lower middle-market private equity firm with deep expertise in construction and infrastructure — as the right capital partner. The deal was structured to accomplish multiple objectives simultaneously: providing Bobby Finley with a full retirement and liquidity, giving AGADCO's management team a significant ownership stake, and retaining the founder as a board member and minority shareholder. This alignment of interests across all parties required careful negotiation and a nuanced understanding of what each stakeholder needed from the transaction.

The Result

The transaction closed in October 2021 with all parties achieving their objectives. Kerry Collins was promoted from President to CEO and continues to lead the business alongside AGADCO's tenured management team. Bobby Finley retired on his terms while retaining a stake and a board seat. The partnership with Tulcan positioned AGADCO to continue its role in Austin's infrastructure growth story — with the capital and operational support to expand further. The deal was cited by the founder as the realization of his long-held vision for the company's future.

Case Study 02
Strategic SaleConstruction SupplyTexas

Strategic Acquisition by National Distributor

Construction Supply Distribution — Texas & Florida

Industry
Construction Distribution
Deal Type
Strategic Acquisition (Sell-Side)
Timeline
Closed September 2025
Outcome
Full Exit to Strategic Buyer

The Challenge

Reinforcing Steel Supply (RSS), founded in 1991 in Austin, Texas, had grown into a premier regional supplier of rebar and concrete accessories serving non-residential and infrastructure markets across Texas — with facilities in Austin, Corpus Christi, Belton, Odessa, and Mustang Ridge. After more than three decades of independent operation, the owners were evaluating strategic options. The goal was to find a buyer who would value the company's operational depth, its fabrication and estimating capabilities, and its established customer relationships across Texas — while providing the owners with a complete exit at a price that reflected the company's market position.

Our Approach

Darbridge positioned RSS as a high-value regional platform within the rebar fabrication and concrete accessories supply chain — a segment experiencing significant consolidation as national distributors sought to expand their geographic footprint and value-added service capabilities. White Cap, the leading national distributor of specialty construction supplies with approximately 500 branches across North America, was identified as the natural strategic acquirer. Darbridge managed the sale process, prepared the positioning materials, and coordinated the due diligence and closing process to ensure a clean, efficient transaction.

The Result

RSS was acquired by White Cap and announced in September 2025 as part of a dual acquisition alongside Stuart Building Products of Florida. The transaction expanded White Cap's rebar fabrication and concrete accessories footprint across Texas and Florida. RSS's facilities, fabrication capabilities, and customer relationships were fully integrated into the White Cap platform, and the company's associates gained access to career development opportunities within a national organization. The owners achieved a full exit at a valuation that reflected RSS's strategic value to a national buyer.

Case Study 03
Family BusinessMarine IndustryGulf Coast

Family Business Sale to Strategic Acquirer

Marine Services — Gulf Coast, Texas

Industry
Marine Transportation & Services
Deal Type
Acquisition (Sell-Side)
Timeline
Closed August 2024
Outcome
Multi-Generational Family Exit

The Challenge

Marine Fueling Service, Inc. (MFS), a family-owned marine services company with over 65 years of operations in the Gulf Coast area of Texas, had been owned and operated by the same family for multiple generations. Strategically located at the intersection of the Intracoastal Waterway, the Neches River, and the Sabine River, MFS provided a comprehensive suite of marine support services — including fleeting, shifting, towing, boat charter, fuel and lubricant supply, dry cargo barge cleaning, and crane services. The family sought a buyer who would honor the company's legacy, protect its employees, and continue the high standard of service the company had maintained for over six decades.

Our Approach

Darbridge managed the sale process with a focus on identifying a strategic acquirer whose values and operational culture aligned with MFS's legacy. Turn Services — one of the largest independent fleeting and shifting companies in the United States, headquartered in New Orleans — was identified as the ideal buyer. Turn Services had a stated strategy of expanding its Gulf Coast footprint and a cultural emphasis on safety and service quality that mirrored MFS's own values. Darbridge structured and managed the transaction to close quietly, efficiently and quickly in order to maintain confidentiality along the way.

The Result

The acquisition closed in August 2024. MFS's location — capable of accommodating 140 barges and operating eight motor vessels — was fully integrated into Turn Services' Gulf Coast operations, significantly expanding Turn's capabilities in the Texas Intracoastal Waterway corridor. The transaction represented the successful conclusion of a multi-generational family business built over 65 years — and a new chapter of growth within a larger, well-capitalized platform.

Note: Case study narratives are based on publicly available information and Darbridge's role in each transaction. Certain details have been generalized or omitted to respect client confidentiality. These case studies are intended to illustrate Darbridge's approach and capabilities, not to disclose confidential transaction terms or financial details.

Start a Conversation

Considering a Transaction?

We'd welcome a confidential conversation about your situation and how Darbridge might be able to help.

Contact Us