HCI Equity Partners, a lower middle-market private equity firm, announced in a news release that its newly established platform, Highland Roofing, acquired Skycraft Roofing on August 1. Financial terms were not disclosed.
Highland, headquartered in Baldwin Park, Calif., is a commercial roofing contractor that performs roof repair and maintenance services to a mix of commercial, industrial, office and multi-family properties. The company operates in five regions: Southern California, Northern California, Arizona, Nevada and the Pacific Northwest.
Highland said its roof repair product offering includes sprayed polyurethane foam, single-ply and a product known as the RainShield solution. The company said its core customers are real estate development and property management companies that provide Highland with sales opportunities across the Western U.S.
"This is a great day for Highland and the future of the company," said Rob Keen, Highland’s president. "We're proud of the service levels we've already established in Southern California and excited that working with the Skycraft team will enable us to deepen our service offerings and relationships in the area."
Skycraft, founded in 1958 and based in Buena Park, Calif., has been family owned and operated by Mark and Phillip Mulligan for more than 50 years. HCI said Skycraft has a loyal commercial and industrial customer base in the greater Los Angeles area and specializes in single-ply and built-up roofing systems, coatings, maintenance and repairs.
Skycraft will continue to operate as a standalone entity within the Highland group of companies.
HCI said Highland would benefit from Skycraft's single-ply capabilities and additional crews, while Skycraft's customers gain immediate access to Highland's commercial roofing services in several neighboring states.
Scott Gibaratz, a partner at HCI, said, "We are very pleased that Skycraft, with its strong performance and long-term, loyal customers, will be part of the growth of Highland as we take this first step in building out HCI's commercial roofing platform."
For more information, visit highlandroof.com.