Six Pillars Partners, a Texas-based private equity firm focused on the lower middle-market, announced that last September it led the recapitalization of Royalty Roofing and its sister company, Majestic Facility Experts, to support its growth and expansion throughout the United States.
Headquartered in Seymour, Ind., with satellite locations in Warsaw, Ind., Fort Myers, Fla., and Orlando, Fla., Royalty provides national reroofing, maintenance, inspection and repair services predominantly to commercial customers. Serving as a natural extension of Royalty, Majestic, based in South Bend, Ind., manages a network of technicians and trade experts throughout the U.S. to fulfill the repair and facility maintenance needs of its national, regional, and local commercial clients. The company, a 2021 Top 100 roofing contractor, will remain under the helm of Founder and President Andy Royalty.
"Our entire management team is excited about the enhanced growth opportunities this new partnership will bring. Six Pillars is a great fit not only for the strategic expertise they bring to the table, but more importantly, for the value they place on caring for our people," said Royalty.
Simultaneous with closing the partnership, the company completed the acquisition of a strategic bolt-on, and it intends to pursue additional add-on opportunities to build scale and establish offices in key markets throughout the U.S. The company has engaged Tyler Rudman to join the Board of Directors and help guide inorganic growth efforts.
"We're thankful to be able to partner with successful entrepreneurs, founders and operators like Andy who have built businesses on the foundation of passionately serving their employees, customers, and community," said Teddy Saltzstein, Partner at Six Pillars Partners. "Andy's dedication to thoughtful growth and the 'Royalty way' is evidenced by the company's 37-year operating history, its national reach, and numerous awards for being a leading re-roofing and facility maintenance provider."
Capital to support the transaction was provided by Centerfield Capital Partners, Petra Capital Partners, Concentric Investment Partners, and UMB Capital Corporation.