Kava Equity Partners announced on February 24, 2026, that it acquired The Berg Group, a Minnesota-headquartered specialty contractor. Kava is the direct private equity investment group of the Southern Ute Indian Tribe Growth Fund. The announcement says Berg will retain its existing management team and continue serving customers; the purchase price and other transaction terms were not disclosed.
Who acquired The Berg Group?
Kava Equity Partners acquired The Berg Group, according to Kava’s announcement. Kava describes itself as the direct private equity investment group of the Southern Ute Indian Tribe Growth Fund. It says it invests long-term, patient capital in lower middle market businesses and seeks alignment with Southern Ute values.
Berg began in 1967 as Berg Drywall and grew into a specialty contractor and provider of integrated construction solutions. The announcement describes a nationwide footprint and traveling workforce. Berg is headquartered in Minnesota, with additional offices in Austin, Naples, and Nashville.
Why did Kava say it acquired Berg?
Kava said the acquisition expands its portfolio into integrated, industrialized construction solutions. Berg combines specialty contracting with preconstruction, building information modeling (BIM), prefabrication, modular systems, and off-site manufacturing. The announcement identifies advanced manufacturing, data centers, cleanrooms, and mission-critical facilities among Berg’s areas of specialization.
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Those capabilities are the strategic rationale stated by Kava and the companies, not an independent assessment of the deal’s future performance. James Dudley, Kava’s managing director, described Berg’s culture and values as a fit with Kava and the Growth Fund. Southern Ute Indian Tribe Growth Fund Executive Director Shane Seibel characterized Berg as being at the forefront of industrialized construction and technology-enabled building solutions.
What happens to Berg’s management and operations?
Kava’s announcement says Berg will retain its existing management team and continue providing services to customers, with additional resources and capabilities from Kava and the Growth Fund. Berg CEO Jack Szmanda described the acquisition as an opportunity to scale, pursue opportunities nationwide, and create value for employees and partners.
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These are statements of the parties’ plans and expectations at announcement, not evidence of later operating results or whether those plans have been achieved. The consulted sources do not establish subsequent management changes or post-close performance.
What is known about the financing and purchase price?
KeyBanc Capital Markets reports that it closed $30 million in senior secured credit facilities on February 1, 2026. The proceeds supported Kava’s acquisition and related transaction fees and expenses; KeyBank Native American Financial Services was the sole lender. The $30 million figure is the amount of credit facilities, not a disclosed purchase price.
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Holland & Hart’s transaction statement says the terms were not disclosed. The consulted announcements do not establish a purchase price, valuation, ownership percentage, or equity contribution.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Who advised and financed the transaction?
- Lender: KeyBank Native American Financial Services was the sole lender for the senior secured credit facilities.
- Kava’s legal advisers: Holland & Hart LLP and Maynes, Bradford, Shipps & Sheftel, LLP.
- Berg’s financial adviser: Hennepin Partners.
- Berg’s legal adviser: Best & Flanagan LLP.
The adviser roles and lender are identified in Kava’s announcement.
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