Stonehenge Capital today announced a $5 million investment in Bedrock Earthworks, LLC, an excavation and trucking company located in Baltimore, Ohio. The investment will allow Bedrock to expand its fleet of heavy equipment and support the company’s continued growth with flexible working capital.
Bedrock Earthworks, founded in 2015, provides excavation services for large commercial and residential construction projects, specializing in commercial foundation excavation. With Stonehenge Capital’s investment, Bedrock will be able to purchase additional trucks and update the machinery it uses to dig and haul dirt for real estate projects, road builds, and underground utility projects.
The working capital provided by Stonehenge through the Ohio Rural Business Growth Program, is expected to create more than 40 new jobs at Bedrock’s Baltimore location, which would nearly double its current labor force. The Ohio Rural Business Growth Program encourages private capital investment in small businesses located in rural communities to help spur economic growth and job creation in underserved areas of the state. Baltimore, Ohio, has a population of just less than 3,000.
Bedrock founder Robert Sykes is committed to providing employment opportunities to residents in the greater Baltimore area.
“Providing adequate hands-on training is a priority at Bedrock and allows us to recruit and retain quality talent in the industry,” Sykes said. “Partnering with Stonehenge Capital will help us take advantage of our momentum in working on big projects like IKEA and Amazon, and continue to deliver expert results and provide an outstanding customer experience.”
“Our investment in Bedrock is an investment in the Baltimore community,” said L’Quentus Thomas, Director at Stonehenge Capital. “The Ohio Rural Business Growth Program provides an opportunity to retain and grow high-quality jobs in rural Ohio, and we’re thrilled to be a part of that success.”
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About Bedrock Earthworks, LLC:
At Bedrock Earthworks, we believe that by focusing on inspiring and investing in top-notch motivated team members and providing them with the best tools and opportunities to succeed, the result will be an outstanding customer service experience leading to long-lasting working relationships. With a combined 40 years’ experience serving central Ohio in commercial, residential and energy markets, we strive to stand by our slogan everyday: "Founded on integrity; Building with pride."