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Latest Private Equity Activity Signals Continued Strength in Home Improvement

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Home Improvement

Latest Private Equity Activity Signals Continued Strength in Home Improvement

A hot month for private equity means the industry remains opportunity-rich


By Caroline Broderick June 4, 2024
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Photo: stock.adobe.com

Private equity (PE) began an acquisition streak in the home services industry in 2014. Steadily purchasing replacement contractor companies nationwide, the hot movement cooled for large companies in recent years. Continued acquisitions signal that PE investors view home services as a profitable and opportunity-rich market.

 

Titan Holdings’ Renuity Sold to New PE Owner

On June 3, Greenbriar Equity Group acquired the Renuity portfolio from York Private Equity, the financial supporter of Titan Holdings. 

Renuity launched in 2019 with the acquisition of Florida-based FHIA Remodeling. From there, the company acquired seven additional brands through 2022. The Renuity portfolio includes Pacific Bath, ClosetAmerica, HomeSmart, Statewide Home Improvement, Mad City Windows & Baths, MaxHome, FHIA Remodeling, Paradise Home Improvement, and RiteHome. 

 

Hudson Glade Acquires Quality First Home Improvement

PE firm Hudson Glade finalized its acquisition of Sacramento-based Quality First Home Improvement on May 29. Quality First offers windows, solar, roofing, gutters, doors, patio covers, insulation, and more throughout its four locations across Northern California and one in Reno, NV.

Officials with Hudson Glade said the most attractive thing about Quality First was its high share of repeat customers and array of essential home services.

“They’re non-discretionary,” Hudson Glade told PE Hub about the Quality First acquisition. “If your roof is leaking, you need to fix it. If your windows are broken, you need to fix them. If the masonry work and anything is crumbling, you need to fix it. These are things that can’t really be deferred.”

 

1-800-Hansons Acquires Paramount Builders

1-800-Hansons, backed by Huron Capital, announced its purchase of Virginia Beach-based Paramount Builders on May 15. The companies offer services from windows to doors, gutter protection, to one-day baths, roofing, and siding. Huron Capital also moved into commercial exterior repair services in March of this year.

Huron’s activities point toward a predicted future strength in windows, roofing, siding, gutters, and one-day baths. Overall, home repair necessity is the big draw for these firms.

 

Alpine Investors Enters Restoration

Additional PE moves are seen in restoration services, with Alpine Investors acquiring three restoration companies based in San Francisco, Arizona, and Wisconsin: DryLux Restoration, Dry Kings, and Midwest Restoration. With these acquisitions, the PE firm launched Guardian Restoration Partners.

 

Infinity Home Services Acquires Ken’s Parkhill Roofing

From 2021 to 2024, Infinity Home Services has purchased 18 roofing companies. Ken’s Parkhill Roofing of Northeast Ohio was the latest on May 17.

 

Continued Work Ahead for Remodeling

Remodeling activity remains at an elevated high historically as it continues a comedown from its pandemic-induced boom, according to Harvard’s Joint Center for Housing Studies.

Adding onto that the continued increase in, weather-related home damages adds to the necessity of home improvement work. A recent Fannie Mae survey found half of homeowners are concerned about weather-related events damaging their homes. In 2023, the country faced a historic number of billion-dollar weather and climate-rated disasters, according to the National Oceanic and Atmospheric Administration (NOAA). 

The bulk of these were considered severe weather/hail events. Aside from those disasters, the NOAA also noted an above-average year for tornadoes.

 


written by

Caroline Broderick

Caroline Broderick is the Managing Editor for Pro Remodeler. Most recently, she served as the associate editor for PR's sister publications, Pro Builder, Custom Builder, and PRODUCTS where she covered design, building products, trends, and more in the residential construction industry. She can be reached at cbroderick@sgcmail.com.
 


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