Insurance restoration has ballooned into a $210 billion industry. Local companies are often overwhelmed by the work required to do restoration, especially post-disaster. To take advantage of the growth in this market and help smaller, local companies get involved, Restoration Builders Inc. has officially acquired Renown Roofing and Construction Inc. of Dallas, Texas, and Elbert Construction of Indiana. These latest asset purchases have allowed Restoration Builders to continue its expansion across the U.S.
Restoration Builders was founded in 2017. Since that time, the company has focused primarily on the consolidation of existing restoration and repair contractors, dispersed throughout the United States. Restoration Builders has signed asset purchase agreements with 15 privately held businesses, the integration of each is scheduled to take place during the next several weeks. Together, these consolidated companies are projected to generate more than $100 million in revenue for 2019.
Renown Roofing’s founder and president Adam Buttoroff, a best-selling author, personal coach, and respected keynote speaker in the construction industry, started the company in 2010, after spending several years in the roofing construction and real estate industries. Since that time, Adam has made it his mission to streamline the insurance claims process for customers, which he accomplished by employing a group of claims specialists. The company has grown to $8 million in revenue for 2018.
TJ Elbert began working in the roofing industry in 2006, after growing up in a family well entrenched in the construction and home improvement industry. In 2008, he founded Elbert Construction with a vision of professionalizing the roofing contractor industry. During the next decade, TJ developed and implemented strategies to enhance year-round job stability, improve training, and solidify better vendor relationships. As a direct result of these bold and innovative efforts, the business has grown to more than $10.1 million in revenue.
Roofing repair is a high-growth sector of the $49 billion roofing contractors’ industry. This field is fragmented, however, as it is primarily comprised of local, privately held companies. The majority of customers in this sector are insurance policy holders who are filing claims for a repair or replacement.
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