Following acquisition by Republic Financial Corp. and Chapter 11 filing in May 2004, generalRoofing emerged from the bankruptcy filing in October of the same year. An astounding turn-around, but new owner Republic has displayed an uncommon ability in the area of taking sound, but troubled assets and turning them around.
That first consolidator about whom we originally reported was generalRoofing, headquartered in southern Florida. The dream of generalRoofing was to consolidate a number of large commercial roof-contracting firms and build them into one streamlined organization. A key piece of the strategy was to offer the consolidated firm in a public offering (IPO).