Private Equity Firm Invests In South Florida's Best Roofing
One of South Florida’s leading commercial roofing contractors has received an undisclosed amount from a New York-based private equity group with a strong track record of investing in home service-oriented businesses.
This week Harkness Capital Partners (HCP) announced their investment in Fort Lauderdale-based Best Roofing on their corporate site citing the outstanding two decade track record of CEO Greg Wallick who acquired Best Roofing in 2001.
The official announcement of HCP’s investment in Best Roofing includes a checklist of attributes that make successful roofing and home service businesses in general attractive to private equity investor groups:
- Expertise In An Industry Niche: Best Roofing focuses on large condominium projects, industrial warehouses, large community projects, healthcare facilities and other large commercial opportunities.
- Strong Management & Systems In Place: Best Roofing possesses strong operating systems, backed by a highly experienced management team.
- Double Digit Revenue Growth: Best Roofing has increased revenue by nearly 20% per year since 2020.
- Multiple Locations in High Growth Markets: Best Roofing is based in Fort Lauderdale with a second location in Miami and a new location opening this year in West Palm Beach.
“We are thrilled to embark on this partnership with HCP. Their expertise and resources will be invaluable as we negotiate the next phase of our growth strategy.” -Best Roofing CEO Gregg Wallick
Yamaha To Install New Solar Panels At Georgia Headquarters
Yamaha Motor Corporation announced that the company will take a major step toward achieving carbon neutrality with the installation of solar arrays at two of the company’s Georgia manufacturing facilities.
The Newman Times-Herald reports that Yamaha has selected Atlanta-based VeloSolar, one of Georgia’s leading solar installers, for major upgrades at Yamaha’s Southeastern Headquarters in Kennesaw and Yamaha Motor Manufacturing Corporation (YMMC) in Newnan.
Yamaha Motor Corporation President and CEO Mike Chrzanowski says the solar array in Kennesaw will provide over half of the facilities’ electrical needs, while the Newnan facility will eliminate over 13,000 tons of carbon dioxide over the life of the new solar array.
“These projects are only a part of Yamaha’s plan to decarbonize operations globally, and the company will continue to identify more emission-reducing opportunities as we move toward 2035.” -Yamaha Motor Corp. President & CEO Mike Chrzanowski
Eustis Roofing Expands Custom Installation Services
Eustis Roofing Company, a trusted provider of roofing solutions for residential and commercial customers over six decades, today announced the company’s expansion of custom roof installation services.
While the installation of architectural-grade fiberglass shingles accounts for the largest segment of Eustis Roofing’s business, the company also installs metal roofs, specialty roofs, flat roofs, manufactured-housing roofs, as well as solar-powered roof fans and skylights.
Founded in 1959, the story of Eustis Roofing Company is an American success story under the guidance of current owner, Rod Reisman, who joined the company as a ground clean-up laborer in the 1980s and would go on to learn every aspect of the roofing business before taking over the company in 1989.
Today, Eustis Roofing, serves Central Florida business and homeowners from two locations in Tavares and The Villages.
UGA's Multi-Million Dollar Roofing Repair Saved Basketball Season
It was March Madness of a different sort in Athens last season when a portion of the roof collapsed at Stegeman Coliseum in March 2023.
When large pieces of concrete began falling from the coliseum ceiling, the university closed the facility and cancelled all planned events. At the time, 11 Alive reported that the now 60-year old coliseum had been repaired previously in 2010 and 2018.
Prior to the repair work, structural engineers identified concrete spalling being caused by misaligned precast joints dating back to the original construction of the Stegasaurus in the 1960s, according to the Athens Banner-Herald.
The Banner-Herald also disclosed that the total cost to repair Stegeman Coliseum is close to $9 million. Athens-based Structural Resources was the general contractor that repaired the facility in time for the 2023-2024 basketball season.
Rising Star Roofing Announces Grand Opening In Fort Myers
Rising Star Roofing, the Florida-based division of Northpoint Roofing Systems, has announced the grand opening of the company’s Fort Myers location.
Rising Star had previously served the Southwest Florida market from a smaller facility in Bonita Springs, so the new Fort Myers location is expected to extend the company’s reach to business and homeowners in need of roofing solutions, gutter installation and roof maintenance.
In addition the new Fort Myers location, Rising Star Roofing has a Palm Beach County location in Lake Worth Beach and a Northeast location in South Windsor, Connecticut.
Contact CII Today
If you own an established roofing business in Florida or Georgia and would like to get a better understanding of the current market value of your company and important steps you can take today to maximize that value, get in touch with a CII business advisor today.