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Capstone Headwaters Advises Inland Dredging on its Sale to Encore Dredging Partners

December 2020

Denver, CO - Capstone Headwaters, a leading middle market investment banking firm, advised Inland Dredging Company, LLC (“Inland”) on its sale to Encore Dredging Partners, LLC (“EDP”), with the support of AV Capital.  Terms of the deal were not disclosed.   

Founded in 1997, Inland’s reputation for quality, integrity, and accountability is highly regarded within the industry and throughout its diverse client base. For 24 years, Inland has provided high quality dredging services throughout the Central U.S. river system and the Gulf Coast areas of Florida, Alabama, Mississippi, Louisiana, and Texas. Inland’s main services include maintenance and deepening dredging, beach nourishment, coastal restoration, marsh creation, and island restoration and protection. Inland operates a fleet of three high-quality 24” cutter suction dredges and provides an experienced group of highly skilled professionals utilizing the latest technology and equipment to assure client satisfaction on every project.

“What a great outcome, both for my family and for the company,” said Inland Dredging Founder Jim Mohead.  “Every deal like this is a journey. Our journey was made longer and more difficult by Covid, but the Capstone team was unwavering throughout.  We very much appreciated their professional approach and personal commitment to getting a great result for our family.”

“This one was definitely personal,” commented Burke Smith, Managing Director at Capstone.  “Jim Mohead built a fantastic marine services company and we were absolutely committed to preserving that legacy going forward. In AV Capital and Encore Dredging, we found precisely the right buyer for the business.  We look forward to watching as they build from Inland to create a new market leader.”

“We are excited to be joining the Encore family,” said Greg Ford, Inland’s President. “EDP’s management team has extensive dredging and marine infrastructure services experience that will be additive to our team moving forward. As we look ahead, we will continue to provide the same top-quality services to our customers with the same faces they have seen for years. Additionally, we will be looking to expand both our operating geography and our dredging capabilities. We are excited about the next chapter for Inland and look forward to new growth while honoring our legacy of success.”

“The acquisition of Inland represents an important step in the execution of our growth strategy for EDP and serves as a platform for continued client success,” said Dwayne Breaux, EDP’s Chief Executive Officer. “Inland has a solid history of delivering high quality projects across the South and Southeastern United States. We are honored to be partnering with the outstanding Inland team to build upon their historical successes, enhance our capabilities, and expand our geographic footprint.”

“AV Capital is excited to return to the dredging industry by partnering with EDP and the team at Inland to build a market leading platform,” said Vernon Bryant, Managing Partner of AV Capital. “We are also very appreciative of the Mohead Family for the great business they built at Inland and the trust they put in EDP and AV Capital to build upon its legacy.”

About Encore Dredging Partners

Encore Dredging Partners (“EDP”) was founded to be the premier mid-sized cutter suction and mechanical dredging services provider focusing on navigable waterways throughout the United States. With over 75 years of combined dredging and marine infrastructure services experience in the leadership team, EDP has the experience and capability to deliver quality services to its diverse client base of private owners and government agencies with a high degree of integrity and accountability. Additionally, EDP is committed to creating a safe work environment by setting high personal standards of safety performance and is committed to creating an injury free workplace every day.

About AV Capital

AV Capital is an Austin, Texas-based private equity firm comprised of experienced investors with a proven track record of success. AV Capital is owned and managed by Vernon Bryant, a former co-leader of the Middle Market investment practice at Austin Ventures, one of the most established venture capital firms in the nation with $3.9 billion under management and a 30+ year track record of investing in entrepreneurial businesses. AV Capital is focused on partnering with talented management teams to transition closely-held middle market companies to institutional ownership and accelerate growth. As relationship-oriented investors, AV Capital brings a patient approach and a long-term perspective to building market leading companies. The AV Capital investment team has deployed nearly $600 million of equity capital in 12 platform companies and delivered outstanding investment returns. AV Capital invests in niche manufacturing, specialty distribution, and business services companies across a variety of end markets. Business owners have chosen to partner with AV Capital because of its strong values and culture, its extensive investment experience and network of relationships, and its history of success in supporting management teams to grow outstanding middle market companies.

“What a great outcome, both for my family and for the company.  Every deal like this is a journey. Our journey was made longer and more difficult by Covid, but the Capstone team was unwavering throughout.  We very much appreciated their professional approach and personal commitment to getting a great result for our family.”
Jim Mohead
Founder
Inland Dredging