Watchtower Capital has acquired Fence Builders and Green Hill Fence Company, creating a leading platform for residential and commercial fence, gate, and access control solutions in the Southeast.
This merger combines two industry leaders with complementary geographic footprints. Green Hill will continue under its current management, benefiting from increased resources to support its growth. While Fence Builders will serve as the flagship brand, the Green Hill name will be retained due to its strong local reputation.
Founded in 1955 in Winston-Salem, North Carolina, Fence Builders is one of the Southeast’s oldest providers of fencing and access control systems, renowned for its high-quality solutions under the leadership of second-generation owner Steve Shelton. The company serves North Carolina, South Carolina, Virginia, Tennessee, Florida, and Georgia.
Green Hill, led by owner Manning Garrett, specializes in high-end custom gate installations in South Carolina’s Upstate region, complementing the services of Fence Builders.
Shelton and Garrett will remain in leadership roles and retain ownership stakes while Nick Coder has been appointed President of Green Hill, bringing over 20 years of experience in business leadership and acquisitions.
Advisors/Support: Comerica Securities served as the financial advisor to Fence Builders. Both Fence Builders and Green Hill were directly sourced outside of a traditional auction process. And Watchtower Capital partnered with Plexus Capital and Aldine Capital Partners to provide debt and equity co-investment alongside Watchtower Capital’s equity investment.
KEY QUOTES:
“I am impressed with the differentiated partnership approach the Watchtower team brings and believe they will be a good steward for my family’s business and its employees. They are highly transparent and were gentlemen throughout the sale process.”
Steve Shelton
“I worked with Watchtower to develop this strategy and it’s very exciting for it to all come together. Fence Builders and Green Hill provide the ideal foundation for the platform, and I look forward to working with Steve, Manning and Watchtower as we capitalize on this exciting opportunity.”
Nick Coder
“Fence Builders and Green Hill are attractive businesses on their own merit, together representing a highly compelling platform investment that exemplifies Watchtower’s core philosophy of partnering with family and founder-owned businesses. These businesses deliver critical services within a highly fragmented industry, creating substantial opportunities for consolidation and organic growth acceleration. This is a playbook the Watchtower team has successfully executed in past investments.”
Casey Lanza, Managing Partner of Watchtower Capital
