Acquisition News

Suburban Detroit-based Great Lakes Roofing Sells to Renova One Portfolio

Renova operates across 12 states and now has 11 varied construction brands under management

Great Lakes Roofing, based in Troy, Mich., has sold to Renova One. — Great Lakes Roofing, based in Troy, Mich., has sold to Renova One, a portfolio platform with nearly a dozen construction-related brands across 12 states.
— Image courtesy of Google Maps

Troy, Mich.-based Great Lakes Roofing, a Detroit-area market‐leading provider of exterior services for multi‐ and single‐family properties, has been sold to Renova One, a portfolio platform owned by private equity firm Goldner Hawn.

Citizens Capital Markets & Advisory served as the exclusive financial advisor in the transaction, according to a March 18 news release. Financial terms were not disclosed, and whether Great Lakes’ owner would play a role in the future was unclear.

“I want to express my sincere gratitude for the Citizens team’s invaluable support throughout the sale of Great Lakes Roofing,” said CEO James Wiese.

“Deep industry knowledge, professionalism and dedication to exceptional service were instrumental in ensuring a smooth and successful transaction,” he added.

Renova One, which operates in 12 states, offers a comprehensive range of exterior services, including roofing, repairs and routine maintenance, which Great Lakes will leverage to help it scale markets.

Goldner Hawn, a Minneapolis‐based private equity firm founded in 1989, says it has made over 100 platform and add‐on investments in companies with total transaction values exceeding $5 billion.

“Through our extensive knowledge of the facility services investor landscape, we found fantastic partners for the company in Renova One and Goldner Hawn,” said Citizens Capital Markets Managing Director Ryan Sugrue.

The deal is expected to bolster Renova One’s national footprint and position the combined platform for sustained growth in the competitive exterior services market.

For more information, visit renovaone.com.

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Bryan Gottlieb is the online editor at Engineering News-Record (ENR).

Gottlieb is a five-time Society of Professional Journalists Excellence in Journalism award winner with more than a decade of experience covering business, construction, and community issues. He has worked at Adweek, managed a community newsroom in Santa Monica, Calif., and reported on finance, law, and real estate for the San Diego Daily Transcript. He later served as editor-in-chief of the Detroit Metro Times and was managing editor at Roofing Contractor, where he helped shape national industry coverage.

Gottlieb covers breaking news, large-scale infrastructure projects, new products and business.