flexiblefullpage - default
interstitial1 - interstitial
Currently Reading

Private Equity Firm Acquires NEWPRO Home Solutions

Advertisement
billboard -
Home Improvement

Private Equity Firm Acquires NEWPRO Home Solutions

NEWPRO Home Solutions is the latest home improvement giant to join Renovo Home Partners


By Caroline Broderick June 2, 2022
new pro renovo home partners
NEWPRO Home Solutions announces acquisition by Renovo Home Partners

New England’s leading home improvement company NEWPRO Home Solutions announced its merger with private equity-backed Renovo Home Partners.

Boston-based private equity firm Audax Group launched Renovo in February 2022 with the acquisitions of industry giants Dreamstyle Remodeling, Alure Home Improvements, and Remodel USA. The acquisition of NEWPRO marks Renovo’s first move post-formation.

NEWPRO opened in 1945 and has remained family-led since that time, currently run under its third-generation owner, Nick Cogliani. The company offers window, door, siding, and roof replacements, and quick-turnaround bath remodels. It projects an estimated 2022 revenue of nearly $130 million. Renovo purchased 100% of NEWPRO.

Similar to Renovo’s past acquisitions, NEWPRO’s leadership team and brand will remain intact, but now with the added benefit of support from the Renovo network. 


RELATED: Leaf Home Acquires Tundraland Home Improvements


“Culture was important to preserve as over the years we’ve developed something really special. The ability for me and my leadership team to continue to operate the business and be hands-on was critical,” Cogliani tells Pro Remodeler. “We have brand equity as a long-standing, local, New England family-run business, so maintaining the brand name was essential.”

Aggressive growth is the name of the game for both Renovo and NEWPRO, according to the companies. NEWPRO grew from $30 million to $100 million in just five years, and the potential with new funding and support excites Cogliani, he says.

“At 43 years old, I have a lot of gas in the tank. I’m passionate about this industry and where it’s going. My dad’s been in this industry for over 40 years. I grew up in this business. I never imagined we would see these consolidations in the home improvement space—and watching it happen, I was intrigued,” says Cogliani.

The Renovo approach to maintaining its acquired companies identities and maintaining them is slightly different from other investment approaches, according to Cogliani. 

“They're leveraging our knowledge, experience, and ability to run these businesses without change,” he explains. “Any changes that may occur in the future are going to be for the employee benefit due to the economies of scale and being part of a larger organization.”

CEO John Dupuy previously explained Renovo’s approach to Pro Remodeler, “We’re there to support them. We’re not just a holding company because we are providing best-in-class processes and systems in finance and accounting, HR, and information technology.”


RELATED: Private Equity's Money Effect



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.
 


Add new comment

Plain text

  • No HTML tags allowed.
  • Web page addresses and email addresses turn into links automatically.
  • Lines and paragraphs break automatically.
leaderboard2 - default

Related Stories

Homeowner Trends When Selecting Manufactured Stone

On this episode of Rock Stars of Remodeling, ProVia Product Manager of Stone & Roofing Chance Shalosky joins host Drew Barto to reveal design and color trends that contractors should consider when selling manufactured stone in 2024

Why A Successful Custom Remodeler Started a One-Day Bath Business

On this episode of Rock Stars of Remodeling, Showcase Remodels Owner Sam DeMaio shares why he decided to add a one-day bath business and offers tips on how contractors can accumulate wealth

Learn from the Best in Home Improvement and Remodeling

This year’s Pinnacle Experience aims to help remodelers stay ahead of their competitors by featuring captivating keynote speakers and subject matter experts, collaborative roundtable discussions, and networking with proven players from across the country.

Get the Most Out of Your Teams with This Leadership Style

The transformational leadership style focuses on inspiring and motivating team members to achieve their full potential and exceed their expectations

3 Reasons Contractors Should Set Same-Day Sales Appointments

Director of Home Improvement Drew Barto writes that contractors that aren't implementing same-day sales appointments are missing out on opportunities to close more business

Registration Open for The Pinnacle Experience 2024

Register today for The Pinnacle Experience 2024 in Baltimore from June 26-28. Join the best and brightest in home improvement and remodeling for insight, advice, and relationship-building that will help you take your business to new heights.

How Contractors Can Determine Lead Value

On this episode of Rock Stars of Remodeling, Builder Prime Founder and CEO Jonathan Weinberg reveals how contractors can effectively determine the value of each lead to their business, and why they must do so

24 Marketing Tips for Home Improvement Contractors in 2024

Quick-hitting advice on how contractors can increase and enhance lead flow in 2024

Rising Financing Fees to Impact Home Improvement Industry

NEWPRO Home Solutions COO shares his expert insight on the challenges facing the home improvement industry in 2024 for Pro Remodeler's Thought Leader predictions series

Presidential Election Will Create Uncertainty for Consumers

PJ Fitzpatrick CEO reveals his predictions and advice for the home improvement industry in 2024 for Pro Remodeler's Thought Leader predictions series

Advertisement
boombox2 -
Advertisement
halfpage2 -
Advertisement
native1 -

More in Category




Advertisement
native2 -
Advertisement
halfpage1 -
Advertisement
leaderboard1 -