Real Estate 2024: MATT MALONE

Under Malone’s leadership, Groundworks is covering a lot of new ground; as of late June, the water management solutions company already had announced nine acquisitions this year. 

This year, Groundworks purchased businesses in Seattle, California and Texas, and expanded into Canada with its acquisition of a Calgary basement contractor.

The firm’s rapid growth garnered it a spot on Inc.’s 2023 Best in Business list in the construction category, and it has appeared on the Inc. 5000 list seven years in a row.

Founded by Malone in 2016, Groundworks has 71 offices across 36 states and Canada, and employs more than 5,500 people, including 1,000 in Virginia. The company provides residential foundation and water management solutions, including foundation repair, basement waterproofing, crawl space repair and encapsulation, plumbing, gutter installation and concrete lifting services, and soil stabilizing solutions for residential and commercial projects.

Malone also is managing partner of private equity firm Succession Capital Partners, which he founded in 2009. A Rotary International Ambassadorial Fellow, he has a master’s degree from Adam Smith School of Economics and Finance at Scotland’s University of Glasgow.