The torrent of private equity money flooding the roofing industry continues unabated as white-shoe banker Morgan Stanley announced on May 1 its midmarket-focused private equity team at Morgan Stanley Capital Partners acquired Allstar Services, a full-service residential contractor.
Allstar, based in Minneapolis, Minn., and led by company Chairman Pete Carlson, is a full-service provider of residential exterior replacement, repair and maintenance services across trades, including roofing, siding, windows, and gutters. Carlson will continue to lead the business while partnering with MSCP. Founded in 1979, Allstar primarily operates in the Minnesota, Wisconsin, North Dakota and South Dakota markets.