TAMPA, Fla.–(BUSINESS WIRE)–#HVAC–Skyway Capital Markets, LLC (“Skyway Capital”) is pleased to announce the recent recapitalization of Crowther Roofing & Cooling (“Crowther”) in partnership with Roofing Corp of America (“RCA”), a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to commercial and residential clients. Skyway Capital served as the exclusive investment banker to Crowther for this transaction.
Headquartered in Fort Myers, Florida and with branches in Sarasota, FL and Jupiter, FL, Crowther Roofing & Cooling has grown into one of the largest specialty roofing and HVAC contractors in North America. Crowther will operate as a stand-alone entity within Roofing Corp of America and will continue to be led by its talented leadership team including CEO, Lee Scott Crowther; President, Kevin Callans; and Chief Financial Officer, Dan Mazon. Crowther’s leadership team will also be retaining a significant portion of equity in the business.
Lee Scott Crowther, Co-Founder and CEO, stated: “Crowther was founded 50 years ago by my father, Lee J. Crowther, on a shared vision of creating an organization based on quality and hard work to deliver the best possible roofing contractor services to commercial and residential clients in Southwest Florida. This vision continues to be the cornerstone of our entire organization, and partnering with Roofing Corp of America will enable Crowther to further expand its capabilities and geographic presence to deliver its full suite of best-in-class roofing and HVAC services throughout Florida. The team at Skyway Capital was instrumental in advising the leadership team and our family throughout this complicated process and early-on identified Roofing Corp of America and FirstService Corporation as ideal partners for our business and our employees.”
Randy Korach, CEO of Roofing Corp of America, added: “Crowther Roofing & Cooling has distinguished itself as one of the leading brands in our industry along with its first-class leadership team. We have great respect for Crowther’s culture and operational excellence and look forward to partnering with them to meaningfully expand our presence in Florida, one of the nation’s largest roofing markets, and realize our shared goal of becoming the pre-eminent roofing contractor group in the nation.”
Keith Hodgdon, Senior Managing Director at Skyway Capital, commented: “As the Company’s investment banker, we are pleased to have represented Crowther, a multi-generational family-owned business, and worked alongside the Company’s founder and its leadership team to initiate, structure, and successfully close on this very important and complex transaction. Over the past 50 years, Crowther has carefully developed and built the leading commercial roofing and mechanical contracting business in the state of Florida, and in partnership with a leading national platform such as Roofing Corp of America and the financial strength of its parent, FirstService Corporation, is poised to capitalize on the numerous growth opportunities ahead.”
ABOUT CROWTHER ROOFING & COOLING
Since its founding in 1974, Crowther has grown to become the largest roofing contractor in Southwest Florida, and has expanded to provide additional services including, HVAC and Mechanical contracting, Light Weight Insulating Concrete installation, and Light Gauge Metal Truss fabrication and installation. For additional information on Crowther Roofing & Cooling, please visit www.crowther.net.
ABOUT ROOFING CORP OF AMERICA
Based in Atlanta, GA, Roofing Corp of America is building the home for the nation’s premier roofing contractors by attracting the industry’s most successful and respected entrepreneurs to join the Roofing Corp family. Through its local businesses (The Original Roofing Company, Innovative Roofing Group, The Bone Dry Roofing Company, Davco Roofing & Sheet Metal, AAA Roofing & Waterproofing, Deer Park Roofing, Pittman Waller Roofing, WeatherShield Roofing, Front Range Roofing, Roof Technologies, Hamilton Roofing, and Crowther Roofing & Cooling), Roofing Corp of America delivers a wide range of roofing services to building owners, property and facility managers, homeowners’ associations, and general contractors. RCA is a subsidiary of FirstService Corporation (NASDAQ and TSX: FSV), a North American leader in providing essential property services to a wide range of commercial and residential clients. For additional information on Roofing Corp of America, please visit www.roofingcorp.com.
ABOUT SKYWAY CAPITAL
Skyway Capital is an independent middle-market investment bank specializing in mergers and acquisitions (M&A) and private capital advisory services. The firms’ M&A capabilities include mergers; sell-side or company sale processes; buy-side acquisitions; joint ventures; partnerships and more. In addition to executing transactions, Skyway Capital will collaborate with clients to advise on their strategic and financial challenges to provide innovative capital solutions to help them accomplish their goals and maximize value. Skyway Capital is headquartered in Tampa, Florida and is a member of FINRA and SIPC.
For more information, please visit www.skywaycapitalmarkets.com.
Contacts
Sam Dhand
Marketing Administrator – Skyway Capital Markets
(386) 843-1758
sam.dhand@skywaycapitalmarkets.com
