Private Equity
Awani Recapitalizes NewHaus, Universal Roofing Firms
The combined company will focus on retail residential roofing repair and replacement services, with operations in Los Angeles, the Bay Area, San Diego, Dallas and Houston
Awani Capital Management has recapitalized NewHaus Construction Inc. and Universal Roofing & Construction LLC in partnership with management, forming a residential roofing platform serving California and Texas.
Financial terms of the deal were not disclosed.
The combined company will focus on retail residential roofing repair and replacement services, with operations in Los Angeles, the Bay Area, San Diego, Dallas and Houston. About 90% of its revenue comes from roofing services, with the remainder from related exterior home services such as insulation, gutters, windows, siding and solar, the company said.
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NewHaus is headquartered in Burbank, Calif., while Universal is based in Glendale, Calif. Awani, a Washington, D.C.-area private equity firm focused on essential business and industrial services, said it is seeking additional partnerships with residential roofing businesses focused on retail cash-pay work.
“The NewHaus and Universal teams share a common belief in providing homeowners with a superior re-roofing experience through premium service, standardized installation practices, and the use of high-quality materials,” said Art Simonian of NewHaus.
Daphne Dufresne, Awani’s founder and managing partner, will join the company’s board of directors. Nigel Howard, an Awani partner, will become chairman of the board.
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