Toronto-based Imperial Capital, a mid-cap private equity fund, announced on April 24 it had formed a partnership with industry veteran Dan Reed to launch residential roofing and exteriors service company called Skyline Roofing Partners. 

Reed, an accomplished executive with a track record of success in the roofing industry, is the former CEO of ANGI Roofing, formerly known as Total Home Roofing. Reed grew his former concern to become one of the largest residential roofing contractors in the United States. 

Imperial Capital is a mid-market private equity firm with US$800 million under management. It is focused on North American opportunities to build or acquire growth-oriented platforms in targeted industry niches within healthcare, business services and consumer services industries.

"We see tremendous opportunity within the residential roofing sector, and we founded Skyline Roofing Partners with a commitment to build a world-class multi-regional company," said Eugene Polevoy, principal at Imperial Capital. 

"We are excited to be working alongside Dan who brings with him a breadth of industry experience,” Polevoy added. “[Reed] embodies Skyline's philosophy of acting in the best interest of our partners, employees and customers."

Reed echoed his new partners’ remarks in a statement, expressing confidence in the new venture with Imperial Capital.

"I am excited to join Skyline Roofing Partners as the founding CEO as we seek to acquire the nation's leaders in residential roofing and exterior services," Reed said. "Skyline was built on the belief of putting our people first, including our partners. We can provide succession plans to preserve owners' legacies and allow them to maximize their economic outcome in the process."

Skyline Roofing, in a release, said it plans to invest in its corporate infrastructure to support future growth and will deploy a multi-pronged, acquisition-focused growth strategy. Private equity money has been pouring into the roofing industry over the last few years as investors seek to exploit opportunities in fragmented legacy industries like roofing contracting and supply operations.

For further information on Skyline Roofing Partners, visit skylineroofingpartners.com.

For further information on Imperial Capital, visit imperialcap.com.