Restoration Builders Inc. Expands with Acquisition of Next Generation Roofing Contractors
SCOTTSDALE, Ariz. — Restoration Builders, Inc. has officially acquired the assets of Next Generation Roofing Contractors (GRC) LLC., expanding into the Ohio and Florida markets.
Restoration Builders Inc. is implementing a consolidation strategy in an effort to meet the explosive demand of the $210-billion insurance restoration industry. Restoration Builders has signed asset purchase agreements with 15 privately held restoration and repair businesses strategically located across high storm traffic regions of the United States. Integration of each business is scheduled for the next several weeks.
The company projects the consolidated companies will achieve approximately $100 million in revenue for 2019.
Shortly after Hurricane Andrew devastated Florida in 1992, Uzziel Jamarillo's father brought him to work with him restoring roofs. He saw the impact of helping families get back in to their homes. He knew this was important work. Within a few years, he was managing the business for his father. He opened Next GRC in 2014, and started repairing both roofs and families. Next GRC opened a location in Dayton, Ohio earlier this year and reported $9.3 million in revenue for 2018.
"I joined Restoration Builders because I am always looking forward, looking for the next step to grow from here," said Jamarillo, founder and president of Next GRC. "I have a vision of professionalizing a fractured industry, so we can better help families. Together will we [sic] be able to make a difference in our industry, and every good work has its fruits. We do a good service for more families, get more properties restored, and be part of a larger company. That seems like a great next step."
John Lorenz, chairman and CEO of Restoration Builders, said the communities of Florida can experience immense disruption after a hurricane or tropical storm, with insured property losses from hurricanes in Florida totaling $68.6 billion in from 1986-2015. This makes Next GRC a valuable asset.
"It is with great pride I welcome the Next GRC team to the company," Lorenz said. "This team knows how to sift through the debris and quickly begin rebuilding neighborhoods one family at a time. I believe they will be an essential component of our expanding network."
Roofing repair is high-growth sector of the $49-billion roofing contractors industry. The field is considered fragmented and largely comprised of local, privately held companies. The vast majority of customers are insurance policy holders filing a replacement or repair insurance claim.
Restoration Builders is a residential and commercial contractor operating within the United States. To learn more, visit www.restorbuilders.com.