SCOTTSDALE, Ariz., Nov. 25, 2019 /PRNewswire/ -- Restoration Builders, Inc. ("Restoration Builders" or "The Company") announced today that it has completed an asset purchase agreement to officially acquire Oakdale, Minnesota-based Built Strong Exteriors, LLC ("Built Strong").
To capitalize on the $210B+ insurance restoration industry, Restoration Builders has been developing a strategic network of U.S.-based licensed contractors and other industry-related companies. Once complete, the Restoration Builders network will include a global infrastructure of offices, teams, equipment, trucks and other resources operating in tandem. The Company estimates this network will produce $100+ Million in revenue for 2019.
Tony Flattum began his journey into the industry in 2002, when a friend asked him to come work at his roofing business. He fell in love with the job after helping a homeowner with a roof that had major problems. The homeowner couldn't afford to do the repair and asked for a bid so they could begin to save money. Tony examined the roof and found that the problems were actually caused by storm damage. He helped the homeowners file the claim forms with their insurance company, and the adjustors agreed with his assessment. The homeowners were able to get the repairs completed quickly and within their family budget.
In 2006, Tony launched his first restoration company, quickly recruiting a top-notch team which expanded the company into a multi-state entity. He then successfully co-founded a franchise system which exponentially grew revenues. After managing operations for several years, Tony joined Built Strong Exteriors in 2016, determined to mend a fragmented industry and create a better opportunity for his team and people. Tony believes customers are friends for life. He focuses on helping neighbors take on adversity and not only overcome it but come out even better. Over the years, he's built a loyal team of experienced professionals who share his same dream of bringing integrity and trust back into the roofing industry. To support that mission and continued growth, Tony decided to join the Restoration Builders network.
Built Strong has reported $34 million in revenue during the past three years.
"I'm thrilled to announce that Built Strong Exteriors is joining us," said John Lorenz, Chairman and CEO of Restoration Builders, Inc. "The winter weather in Minnesota can cause immense damage and disruption. The Built Strong team is deeply rooted and well-known within the local community. They are a tight knit group of professionals who know how to overcome adversity through creative problem solving. I believe they personify our motto of 'Raising the roof on the American dream' and will be frontrunners in our efforts to elevate and evolve this industry."
The roofing repair trade is a fast-growing sector of the $49 Billion roofing contractors' industry. Currently, it is comprised primarily of local, privately held companies, making it fragmented. The bulk of roofing customers are insurance policy holders who are looking to leverage their coverage to carry out a repair or replacement.
About Restoration Builders, Inc.
Restoration Builders is a residential and commercial contractor operating within the United States. Their mission is to protect, restore and build properties, strengthen families and support the community. They are committed locally and ready to serve wide scale for disaster response. To learn more, please visit their website at www.restorbuilders.com
About Built Strong Roofing, LLC
Built Strong Exteriors LLC is a family-owned and operated company proud to serve the Minnesota communities. Their roots and our hearts are there, and they know what it takes to keep a property's exterior safe and sturdy year-round. With 25 years of experience in the industry, Built Strong's highly qualified staff is there to serve with professionalism, kindness, and an excellent work ethic. To learn more, please visit: www.builtstrongexteriors.com
For further information please contact:
Janet Carnell Lorenz
SOURCE Restoration Builders