NewSpring Completes Investment in Infrastructure Development Company GLH Construction
March 12, 2020
Radnor, PA – March 12, 2020 – NewSpring (the “Firm”), a family of private equity strategies, announced today that NewSpring Mezzanine ("NewSpring"), the Firm’s dedicated mezzanine strategy, has completed its investment in GLH Construction, Inc. (“GLH Construction” or the “Company”) to support a majority recapitalization led by Jackson Partners. The recapitalization provides the Company with an infusion of capital to provide resources and support to hire additional employees and invest in sales and marketing efforts to best serve new and existing customers.
This deal marks the third transaction NewSpring has made with Ken Croney, Managing Partner of Jackson Partners and two-time former CEO of NewSpring portfolio companies.
GLH Construction is an infrastructure development company with a focus on installing earthwork and wet utilities including sewer, water line, storm drainage, and other project types. Based in Windsor, Colorado, the Company primarily serves municipalities, developers, contractors, farmers, ranchers, and homeowners in Northern Colorado and Southern Wyoming.
“Considering the favorable supply and demand dynamics in the Denver area housing market, GLH Construction is well-positioned to grow rapidly as the need for land development rises in the near term,” said Drew Scannell, NewSpring Vice President. “We’re excited to work with Greg Hughes and the rest of the management team as they continue to develop their growth prospects.”
“Since 1996, our clients have come to know and appreciate the dedication to service and positive outcomes that have led to our success thus far,” said Greg Hughes, CEO of GLH Construction. “It is an exciting time for our company as we prepare to accelerate investment in new resources to add capacity, and we’re thrilled to partner with NewSpring and Jackson Partners as we pursue higher levels of growth.”
About GLH Construction
Gregory L. Hughes established GLH Construction in August of 1996 and is deeply rooted in Northern Colorado. GLH specializes in regional infrastructure development focused on subdivisions, construction management, sanitary sewer, water line, storm and drainage lines, backhoe and loader work, earth work, curb and sidewalk work, and street repair throughout Colorado and Wyoming. To learn more, visit www.glhconstruction.com.