Lower-middle market private equity firm Silver Oak Services Partners has announced it is leading the recapitalization of North American Roofing, in partnership with management and co-investors, per a Nov. 21 press release.
NAR, founded in 1979, is headquartered in Tampa, Fla., and provides commercial reroofing and maintenance services for clients in all 50 states and Puerto Rico. This year, NAR has completed more than 500 reroofing and 5,000 service jobs.
“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,” said Kelly Wade, CEO of NAR.
Silver Oak was attracted to NAR given the latter’s significant growth potential and approach to servicing its client base, according to the statement.
The firm invests in business, health care and consumer-service companies, typically with earnings before interest, taxes, depreciation and amortization of $4 million to $20 million.