ROSEMONT, Ill. & LOS ANGELES & TORONTO--(BUSINESS WIRE)--Tecta America Corporation (“Tecta America” or the “Company”), a national leader in commercial roofing services in the U.S., announced today that Leonard Green & Partners, L.P. (“LGP”) has completed a minority equity investment in the Company. Altas Partners, Tecta America’s principal shareholder, will remain the Company’s majority owner alongside the management team and LGP. Financial terms of the transaction were not disclosed.
Founded in 2000, when ten leading roofing contractors came together to form one, Tecta America has grown into a leading full-service commercial roofing company in the U.S., providing a comprehensive set of commercial roofing services to local and national customers across a variety of industries and end-markets. Tecta America employs more than 4,300 roofing professionals and operates across more than 85 locations in 32 states from coast to coast. The Company provides commercial re-roofing, service and maintenance, and new installation services.
“We are thrilled to continue our outstanding partnership with Altas and welcome our new equity partner, Leonard Green, as we execute our proven strategy,” said Dave Reginelli, Tecta America President & CEO. “During Altas’ ownership, our senior executive team, operating unit presidents, and thousands of dedicated employees have steadily built Tecta’s capabilities and footprint, growing organically and through strategic acquisitions. We are confident that Leonard Green’s experience building leading services companies will enable us to continue to grow in the years to come.”
“Over the course of our partnership, Tecta America has solidified its position as the nation’s premier commercial roofing contractor,” said Scott Werry, a Managing Partner at Altas. “Our objective at Altas is to build market leaders into even stronger and more durable businesses in partnership with talented management teams, and today’s news represents an important milestone in our journey with Tecta. We are proud to be affiliated with Dave and the thousands of Tecta employees, and are excited to be partnering with a firm of Leonard Green’s caliber as we continue to build Tecta in the years ahead.”
“We are grateful for the opportunity to partner with Altas and the Tecta team,” said Evan Hershberg, Partner at LGP. “We have followed Tecta for many years and believe it is an outstanding business. Tecta has a proven track record of quality and delivers on its commitment to exceptional customer service. We look forward to supporting Tecta’s continued growth as the Company executes on the significant opportunities that lie ahead.”
About Tecta America
Tecta America is the nation’s premier commercial roofing contractor with more than 85 locations from coast to coast. Tecta America’s unyielding commitment to quality, expertise, and professionalism have helped it become the industry leader in commercial roofing. Providing commercial re-roofing, service and maintenance, and new installation services, Tecta America offers the responsiveness of a local roofing contractor backed by the resources and stability of a national provider. For more information: http://www.tectaamerica.com.
About Altas Partners
Altas Partners is an investment firm with a long-term orientation focused on acquiring significant interests in high-quality, market-leading businesses in partnership with outstanding management teams. Key elements of our approach include responsible capital structures, active ownership through strategic and operational support and an emphasis on sustainable value creation. We strive to deliver excellent investment returns for our investing partners. Altas invests on behalf of endowments, foundations, public pension funds and other institutional investors. For more information, please visit www.altas.com.
About LGP
LGP is a leading private equity investment firm founded in 1989 and based in Los Angeles with over $50 billion of assets under management. The firm partners with experienced management teams and often with founders to invest in market-leading companies. Since inception, LGP has invested in over 100 companies in the form of traditional buyouts, going-private transactions, recapitalizations, growth equity, and selective public equity and debt positions. The firm primarily focuses on companies providing services, including consumer, business and healthcare services, as well as retail, distribution and industrials.
