Silver Oak Services Partners LLC has led the recapitalization of Tampa, Florida-based North American Roofing, a provider of commercial reroofing and maintenance services. No financial terms were disclosed for the transaction that was done in partnership with NAR management and co-investors.
Evanston, IL, November 21, 2018 – Silver Oak Services Partners, LLC (“Silver Oak”), a leading lower middle market private equity firm focused exclusively on service businesses, announced it has led the recapitalization of North American Roofing (“NAR” or the “Company”) in partnership with management and co-investors.
NAR, headquartered in Tampa, FL, is a national provider of commercial reroofing and maintenance services across the United States. NAR focuses on large, low slope commercial and industrial roofs, and services clients in all 50 states and Puerto Rico. In 2018, NAR completed more than 500 reroofing and 5,000 service jobs. Visit www.naroofing.com.
“Our team is excited to partner with Silver Oak to execute on our long-term growth plan. We’re at an exciting inflection point in our Company’s history, and we believe Silver Oak’s long track record of executing on aggressive growth strategies alongside their management partners made them the ideal partner for us. We look forward to working with them to further invest in our crew capacity, sales, marketing, field management and IT infrastructure so we can better service our clients and continue our strong growth trajectory,” stated Kelly Wade, NAR’s CEO.
Silver Oak was attracted to NAR given the Company’s differentiated approach to servicing its national account client base and significant growth potential. Dan Gill, Managing Partner at Silver Oak, said, “We are excited to partner with NAR’s management team. The Company has a successful track record of growth and a strong reputation in the industry as one of the few reroofing providers able to service the entire country. We look forward to leveraging the Company’s existing platform to accelerate NAR’s growth.”
Silver Oak invests in business, healthcare, and consumer services companies in the lower middle market, typically with EBITDA of $4 million to $20 million. Visit www.silveroaksp.com