InStar Services Group, a portfolio company of BlackEagle Partners, has acquired Horizon Restoration Inc., a Denver-based provider of disaster restoration services. No financial terms were disclosed.
InStar Services Group, LP (InStar) announced it completed the acquisition of Horizon Restoration Incorporated. Headquartered in Denver, Horizon is a leader in disaster restoration serving Colorado and the greater Rocky Mountain Region as well as National Accounts. Horizon is a full service restoration contractor, providing property recovery solutions to commercial and residential clients. Their range of services include emergency response, temporary power/climate control, loss mitigation, cleaning and decontamination, fire and flood remediation as well as reconstruction services.
Horizon founder, Derrick Hall, began his career in the insurance restoration industry at age 17 working as a water mitigation technician for a ServiceMaster franchise. He then went on to work for Mark W. Davis at Rocky Mountain Catastrophe and eventually BELFOR USA. Derrick was quickly promoted to run the EMS and Contents division of BELFOR in Oregon. Upon exiting BELFOR, he formed Horizon and grew the company into a strong, full service restoration company providing customized service to clients in the Rocky Mountain Region. “Derrick was a shining star at age 19, moving up the ranks quickly while we were expanding BELFOR out West. His entrepreneurship and passion for the industry brings a wealth of talent and operational expertise to the InStar team,” said Mark W. Davis, President & CEO of InStar. “As InStar seeks to expand its geography in the West, the team at Horizon will play an integral role in our growth. Having worked with Derrick for many years, I know how fortunate InStar is to have him and his team as part of the InStar family.”
With this acquisition, InStar is now comprised of 18 response centers in the U.S. and grows as a leading national provider of disaster response, insurance restoration and reconstruction services. In addition to disaster response, services include response to regularly occurring incidents, such as fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition. InStar also provides structural maintenance, renovation and modernization services to large multi-family properties.
The acquisition of Horizon marks InStar’s third expansion in the last seven months. InStar’s majority owners, private equity firm BlackEagle Partners, LLC (BlackEagle), supported the company’s entrance into Birmingham, Michigan as well as the acquisition of B. Poole Restoration in New York and now Horizon. “Partnering with successful entrepreneurs like Derrick Hall is important as InStar continues its expansion efforts into one of the nation’s leading disaster restoration firms,” said Jason Runco, Partner of BlackEagle.
InStar is a leading national provider of disaster response, insurance restoration and reconstruction services operating from 18 branches. In addition to disaster response, services include response to fires, floods, water-line breaks and storm damage in order to return damaged property to its pre-loss condition, the company also provides structural maintenance, renovation and modernization services to large multi-family properties. InStar markets its services to a broad range of customers, including retail, hospitality, manufacturing, healthcare, insurance companies and multi-family residential property owners/managers.
BlackEagle Partners, LLC, with offices in New York, New York and Bloomfield Hills, Michigan, is an operations focused, middle market private equity firm that seeks to acquire non-core subsidiaries and companies in out-of-favor industries. BlackEagle seeks businesses with an enterprise value below $200 million.