ROSEMONT, Ill. — The sale of Tecta America announced in October is complete.
In a one paragraph press release, Onex Corp. — previous owner of Tecta America — said the deal has been concluded.
Financial terms of the transaction were not disclosed.
Toronto-based Altas Partners said in an Oct. 29 press release it had signed a definitive agreement to acquire Tecta from ONCAP, a mid-market private equity arm of Onex.
Rosemont, Ill.-based Tecta America was No. 2 on RC's 2018 Top 100 Roofing Contractors list with reported revenue of $500 million. The company has more than 3,000 employees operating at more than 60 locations in the U.S.
“We are thrilled to partner with Altas as we continue to execute on our growth opportunities — both organically and through select acquisitions,” said Mark Santacrose, president and CEO, Tecta America. “Furthermore, we’re excited to leverage the firm’s support and expertise as we continue to focus on delivering best-in-class service to our customers and being the employer of choice in the roofing industry. We greatly value the support and commitment ONCAP provided throughout its ownership, as well as its confidence in our people and our future.”
Tecta America is one of two top 10 companies from the Top 100 Roofing Contractors list to be sold in the last month. Tampa, Fla.-based North American Roofing Services Inc. — No. 6 on the Top 100 list — announced on Nov. 26 that it had been sold to Silver Oak Service Partners L.L.C. Terms of the deal were not disclosed.