Soundcore Capital Partners Announces Sale of Roofing Corporation of America
- Roofing Corp.'s revenue and EBITDA increased by more than tenfold under Soundcore's ownership.
- Soundcore successfully grew Roofing Corp. into one of the leading roofing platforms through proactive initiatives including capital expenditures, accretive acquisitions, and strategic procurement activities.
- Financial terms of the transaction were not disclosed, which may raise concerns about transparency and accountability.
Headquartered in
Soundcore initially invested in Roofing Corp. in December 2020 after beginning with a Fresh Idea that turned into a compelling thesis, which was validated by significant direct outreach initiatives, data collection, and market analysis. Soundcore was compelled by the level of fragmentation and reoccurring service needs of the industry.
"It was a pleasure to partner with Soundcore over the past three years. Today's announcement is the culmination of a lot of hard work. Soundcore has been a trusted and valuable strategic partner for our management team," commented Randy Korach, Roofing Corp.'s CEO. "The partnership with Soundcore enabled us to build a strong company, one of the leading roofing contractors in
During Soundcore's holding period, through proactive initiatives including capital expenditures, accretive acquisitions, strategic procurement activities and other organic growth initiatives, Roofing Corp. successfully grew into one of the leading roofing platforms. Soundcore oversaw 10 acquisitions and entered major markets including
"We initially invested in this thesis with the goal of creating a leading service provider in the roofing industry. Through a combination of strategic add-on acquisitions, investments in technology and integration, procurement programs, organic growth initiatives, and the addition of several key management team members, we were able to achieve our goals. Under Soundcore's ownership, Roofing Corp.'s revenue and EBITDA increased by more than tenfold," said Jarrett Turner, Founder and Managing Partner of Soundcore. "We are proud of our partnership with the Roofing Corp. management team, which successfully executed Soundcore's platform creation strategy. We want to credit Randy Korach and the entire Roofing Corp. team for their impressive accomplishments, leadership, and dedication in helping us build a leading company. We are pleased with the outcome for our investors, and we wish this team and the Company success during this next phase of growth."
Financial terms of the transaction were not disclosed. Piper Sandler & Co. served as the financial advisor and Kirkland & Ellis LLP served as legal counsel to Soundcore and Roofing Corp.
About Roofing Corp.
Roofing Corp. is a full-service provider of commercial, industrial, and residential roof replacements and repairs, new roof installation, and ongoing preventative maintenance. For more information, please visit: www.roofingcorp.com
About Soundcore
Soundcore Capital Partners was founded in 2015 by Jarrett Turner and is based in
CONTACT:
Elizabeth Olt
eolt@soundcorecap.com
(212)-812-1432
Related Links
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SOURCE Soundcore Capital Partners
FAQ
Who completed the sale of Roofing Corporation of America, LLC?
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What was the impact of Soundcore's ownership on Roofing Corp.'s revenue and EBITDA?
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What were the roles of Piper Sandler & Co. and Kirkland & Ellis LLP in the transaction?
