Private Equity Group Expands Florida Roofing Portfolio
An Indiana-based private equity group today announced that the company has expanded their Floirda roofing portfolio with the recapitalization of a well-known Palm Beach roofing contractor.
Indy’s Monument Microcap Partners has recapitalized West Palm Beach-based JJ Quality Builders of the Palm Beaches. JJQB is a roofing contractor that provides roof replacement, roof repairs, and solar services, with a focus on residential and multi-family projects.
Kelly Roofing and JJ Quality Builders Join Forces
For the recapitalization of JJ Quality Builders, Monument relied on its portfolio company, Kelly Roofing Holdings.
Founded in 1972, Naples-based Kelly Roofing installs replacement residential and commercial roofing systems and repairs existing roofs throughout the State of Florida.
Kelly Roofing’s core services include roof replacement, roof repair, accessories (gutters, skylights, roof cleaning, etc.), inspection and insurance claims, emergency repair work, and solar system installation.
Kelly Roofing has been the recipient of numerous industry accolades including Roofing Contractor of the Year, Roofing Technology Innovator of the Year, and Top 100 Roofing Contractor in America.
"A Perfect Fit" with Kelly Roofing Holdings
Regarding the transaction, JJ Quality Builders’ owner Sandy Duque emphasized the deal synergies and the strong cultural, financial and operational fit with Kelly Roofing.
"Kelly Roofing is the perfect fit, and we look forward to growing the combined business alongside the team."
“We believe it is critical to find a partner with similar aspirations and core values as we enter the next phase of growth at JJ Quality Builders. Kelly Roofing is the perfect fit, and we look forward to growing the combined business alongside their team,” said Duque.
Monument Microcap Expanding Roofing Footprint Across Florida
With this recap, Monument Microcap is beginning to solidify its foothold on the Florida roofing landscape with three well established roofing companies based in Naples, Jacksonville, and now the Palm Beaches.
The JJ Quality Builders transaction represents the second recapitalization by Kelly Roofing Holdings.
In July 2021, Kelly Roofing Holdings recapitalized Reliant Roofing based in Jacksonville, Florida.
CII Advisors Guiding Roofing Contractor Owners with Mergers and Acquisitions
Monument’s initial move into the Florida roofing contractor arena took place four years ago with the Kelly Roofing transaction. Kelly Roofing was recapitalized by Monument in September 2020.
For that transaction, Kelly Roofing turned to CII’s Cress Diglio for guidance and representation in the deal.
CII is also pleased to have former Kelly Roofing CEO Ken Kelly on board as part of our team of professional business advisors.
If you are the owner of an established roofing contractor business and seeking sound advice regarding how to maximize the value of your enterprise, reach out to Cress and Ken directly or using the contact form below.