WOODSTOCK, Ga. — Northpoint Roofing Systems, a Halmos Capital Partners and NewSpring portfolio company based in Georgia, announced the acquisition of Master Roofers, located in Manchester, N.H.
According to a release, the Master Roofers purchase is Northpoint's first acquisition as the company executes its strategy to pursue additional add-on opportunities to build scale and expand throughout the United States.
"We are excited with the addition of Masters Roofers to the Northpoint team," said Patrick Maginn, CEO of Northpoint. "Masters brings best-in-class quality combined with generations of experience to an exciting new market geography."
Established in 1942, Master Roofers has been serving the New Hampshire and Massachusetts region for three generations, during which they have developed a reputation in the roof and skylight repair and replacement non-insurance retail market.
"I believe the future is bright for Master Roofers under the stewardship of the Northpoint, Halmos, and NewSpring team," said Dan Bolduc, owner of Master Roofers. "It was important to me that the acquirers of Master protect the reputation my family built over three generations. I'm confident our decision was the right one for our legacy, employees, and customers."
News of the acquisition quickly followed the announcement that Halmos Capital Partners, a private equity firm focused on lower middle-market companies, partnered with Northpoint Roofing Systems to support its growth and expansion into new markets. NewSpring, a family of private equity strategies, invested subordinated debt and equity to support the transaction.
As part of the transaction, Northpoint welcomes the addition of Maginn to its executive team who will serve as CEO. Maginn joins most recently from Inland Pipe Rehabilitation, where he acted as chief operating officer.
"We are excited to enter into a partnership with Halmos and Patrick that will accelerate our growth throughout the country," said , co-founder of Northpoint. "Access to their collective resources and experience scaling lower middle-market businesses will position the company for this next phase and allow us to capitalize on opportunities we see in the market. Combined with the intellectual and financial capital provided by NewSpring, we've built an excellent foundation on which we can continue our rapid growth."