Leonard Green Partners with Altas to Support the Continued Growth of Tecta America
ROSEMONT, Illinois & LOS ANGELES & TORONTO–(BUSINESS WIRE)–Tecta America Corporation (“Tecta America” or the “Company”), a national leader in commercial roofing services in the US, today announced that Leonard Green & Partners, LP (“LGP”) has made a minority investment in the company . Altas Partners, the main shareholder of Tecta America, will remain the majority shareholder of the company alongside the management team and LGP. The financial terms of the transaction have not been disclosed.
Tecta America was founded in 2000 when ten leading roofers came together to form one roofer. and end markets. Tecta America employs more than 4,300 roofers and operates in more than 85 locations in 32 states from coast to coast. The company offers commercial roof renovation, service and maintenance and new installation services.
“We are excited to continue our excellent partnership with Altas and welcome our new equity partner, Leonard Green, as we execute on our proven strategy,” said Dave Reginelli, Tecta America President & CEO. “During Altas ownership, our senior executive team, operational unit presidents and thousands of dedicated employees have steadily expanded Tecta’s capabilities and footprint, both organically and through strategic acquisitions. We are confident that Leonard Green’s experience building leading service companies will enable us to continue growing for years to come.”
“Over the course of our partnership, Tecta America has solidified its position as the nation’s premier commercial roofer,” said Scott Werry, Managing Partner at Altas. “Our goal at Altas is to build industry leaders into even stronger and more sustainable companies in partnership with talented management teams, and today’s news is an important milestone in our journey with Tecta. We are proud to be associated with Dave and the thousands of Tecta employees, and are excited to partner with a firm of Leonard Green’s caliber as we continue to build Tecta in the years to come.”
“We are grateful for the opportunity to work with Altas and the Tecta team,” said Evan Hershberg, Partner at LGP. “We have been following Tecta for many years and think it is an excellent company. Tecta has a proven track record of quality and a commitment to exceptional customer service. We look forward to supporting Tecta’s continued growth as the company takes advantage of the important opportunities ahead.”
About Tecta America
Tecta America is the nation’s largest commercial roofer with more than 85 locations from coast to coast. Tecta America’s unwavering commitment to quality, expertise and professionalism has helped make it the industry leader in commercial roofing. Tecta America offers commercial roof repairs, service and maintenance and new installation services, providing the responsiveness of a local roofer, backed by the resources and stability of a national supplier. For more information: http://www.tectaamerica.com.
About Altas Partners
Altas Partners is an investment company with a long-term orientation focused on acquiring significant interests in high-quality, market-leading companies in collaboration with excellent 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 for excellent investment returns for our investment partners. Altas invests on behalf of endowments, foundations, public pension funds and other institutional investors. For more information, visit www.altas.com.
LGP is a leading private equity investment firm founded in 1989 and headquartered in Los Angeles with more than $50 billion in assets under management. The company partners with experienced management teams and often founders to invest in leading companies. Since its inception, LGP has invested in more than 100 companies through traditional buyouts, private placements, recapitalizations, growth capital and selective public equity and debt positions. The company primarily focuses on services companies, including consumer, business and healthcare services, as well as retail, distribution and industrial.