Leonard Green & Partners LP has completed a minority equity investment in Tecta America Corp., a national provider of commercial roofing services in the U.S. Altas Partners, Tecta America’s principal shareholder, will remain the company’s majority owner alongside the management team and LGP.
Tecta America has grown into a leading full-service commercial roofing company in the U.S., providing a set of commercial roofing services to local and national customers across industries and end-markets.
“We are thrilled to continue our outstanding partnership with Altas and welcome our new equity partner, Leonard Green, as we execute our proven strategy,” said Dave Reginelli, Tecta America president & CEO. “During Altas’ ownership, our senior executive team, operating unit presidents, and thousands of dedicated employees have steadily built Tecta’s capabilities and footprint, growing organically and through strategic acquisitions. We are confident that Leonard Green’s experience building leading services companies will enable us to continue to grow in the years to come.”
“Over the course of our partnership, Tecta America has solidified its position as the nation’s premier commercial roofing contractor,” said Scott Werry, a managing partner at Altas. “Our objective at Altas is to build market leaders into even stronger and more durable businesses in partnership with talented management teams, and today’s news represents an important milestone in our journey with Tecta. We are proud to be affiliated with Dave and the thousands of Tecta employees, and are excited to be partnering with a firm of Leonard Green’s caliber as we continue to build Tecta in the years ahead.”
“We are grateful for the opportunity to partner with Altas and the Tecta team,” said Evan Hershberg, partner at LGP. “We have followed Tecta for many years and believe it is an outstanding business. Tecta has a proven track record of quality and delivers on its commitment to exceptional customer service. We look forward to supporting Tecta’s continued growth as the Company executes on the significant opportunities that lie ahead.”