BluSky Restoration Contractors LLC, which is backed by Dominus Capital, has merged with Signal Hill, California-based HARBRO Emergency and Restoration Inc, a mitigation, restoration and reconstruction provider for commercial properties damaged by water, fire, flood and other disasters. No financial terms were disclosed.
New York, May 5, 2020 – Dominus Capital is pleased to announce its portfolio company, BluSky Restoration Contractors, LLC, has merged with Signal Hill, California-based HARBRO Emergency and Restoration, Inc.
“First and foremost for us is to partner with a firm that we believe will be a great cultural fit. I greatly appreciate HARBRO’s values of integrity, loyalty, quality, responsiveness, and teamwork, and I find them to be a great fit with our values,” said Kent Stemper, BluSky CEO. “HARBRO is extremely strong in California and is well-established and growing its offices in Arizona, Nevada, Oregon, and Washington, and this fuels BluSky’s coast-to-coast expansion.”
The two firms bring to bear complementary strengths including HARBRO’s significant mitigation experience and BluSky’s robust reputation for reconstruction work. This move affords BluSky the opportunity to continue achieving its plan of becoming the leading restoration services firm for commercial and multi-family property owners and managers in the United States.
With eventual plans to rebrand the HARBRO organization under the BluSky name, HARBRO Chief Executive Officer Jim Franklin and President David Moll will have the largest non-institutional shareholding within the merged company.
“We are excited to put into play this proactive plan, which will afford our team a greater ability to serve our clients’ needs throughout the U.S.,” said Franklin.
Moll added, “We are very excited about this new partnership and feel honored to be a part of the BluSky team. Both companies have taken pride in the cultures they have built and are very excited about the opportunities this provides for our people and clients.”
“Our investment thesis when we originally backed BluSky, Kent, and this management team was to pursue growth in adjacent geographies and through complementary service offerings. This merger continues the team’s execution of this plan,” noted Ashish Rughwani, Founding Partner at Dominus Capital, a leading private equity investment firm based in New York and the controlling investor in BluSky. He added, “We are continuing to seek add-on mergers with market leaders, such as HARBRO, as we seek to build the BluSky platform.”
Stemper remains the firm’s chief executive officer. HARBRO’s officers will assume leadership positions in the combined business, which continues as BluSky Restoration Contractors.
K&L Gates served as counsel to HARBRO and White & Case served as counsel to BluSky in the transaction.
Today’s announcement is the fourth in a strategic plan of mergers and acquisitions to support BluSky growth. The firm previously merged with North Carolina-based Disaster One in 2017, Missouri-based United Services in 2019, and Tennessee-based SRP Contractors in 2020. BluSky has grown from a privately-owned Colorado startup in 2004 to one of the largest national restoration firms in the country.
About BluSky Restoration Contractors, LLC (www.goblusky.com)
Denver, Colorado-based BluSky Restoration Contractors, LLC provides restoration, renovation, environmental and roofing services to all commercial, health care, and multi-family real estate classes across the U.S. and Puerto Rico.
About HARBRO (www.harbro.com)
Signal Hill, CA-based HARBRO is a full-service mitigation, restoration and reconstruction provider for commercial properties damaged by water, fire, flood and other disasters with offices throughout Southern CA, Northern CA, Seattle, Portland, Phoenix and Las Vegas.
About Dominus Capital (www.dominuscap.com)
Based in New York, Dominus Capital is a leading middle-market private equity investment firm that focuses on management-led buyouts and growth capital investments in companies in the business services, light manufacturing and consumer sectors. Drawing on the experience, knowledge and network of its founders and a team of in-house operating executives, Dominus Capital works hand-in-hand with exceptional management teams to unlock the untapped potential of its portfolio companies. The firm takes a long-term and conservative approach to investing and has a consistent and successful track record of achieving significant growth at its portfolio companies. The Dominus Capital team members have executed over 75 transactions over the past 20+ years.