24 Oct, 2023, 11:07 ET
Petra Capital and other investors announced today that in September of this year they led the recapitalization of Royalty Roofing (“Royalty”) and its sister company, Majestic Facility Experts (“Majestic”), (collectively, the “Company”), to support its continued growth and expansion throughout the United States. Petra invested in Royalty and Majestic alongside Six Pillars Partners, Centerfield Capital Partners, Concentric Investment Partners, and UMB Capital Corporation.
Headquartered in Seymour, IN, with satellite locations in Warsaw, IN, Ft. Myers, FL, and Orlando, FL, Royalty provides national re-roofing, maintenance, inspection and repair services predominantly to commercial customers. Serving as a natural extension of Royalty, Majestic, based in South Bend, IN, manages a network of technicians and trade experts throughout the U.S. to fulfill the repair and facility maintenance needs of its national, regional, and local commercial clients. The Company will remain under the helm of Founder & President, Andy Royalty. “Our entire management team is excited about the enhanced growth opportunities this new partnership will bring.
Teddy Saltzstein, Partner at Six Pillars Partners, said, “We’re thankful to be able to partner with successful entrepreneurs, founders and operators like Andy who have built businesses on the foundation of passionately serving their employees, customers, and community. Andy’s dedication to thoughtful growth and the “Royalty way” is evidenced by the Company’s 37-year operating history, its national reach, and numerous awards for being a leading re-roofing and facility maintenance provider.”
Simultaneous with closing the partnership, the Company completed the acquisition of a strategic bolt-on, and it intends to pursue additional add-on opportunities to build scale and establish offices in key markets throughout the U.S. The Company has engaged Tyler Rudman to join the Board of Directors and help guide inorganic growth efforts.
Founded in 1986, Royalty is a leading provider of commercial and residential re-roofing and repair solutions. With nearly 200 employees, Royalty serves a diversified commercial customer base that includes national, multi-unit after-market auto retailers, quick-service restaurants and franchisees, cold storage warehouse owners and operators, and food distributors, among others. More information is available at https://royaltyroofing.com/.
Founded in 2017 as a natural extension of Royalty’s national commercial re-roofing services, Majestic provides its multi-unit national, regional, and local retail clients a one-stop solution for all their facility service needs. With its large, proprietary network of technicians and trade experts based throughout the U.S., Majestic’s services include electrical, plumbing, general repair, lighting, janitorial, preventative HVAC/R maintenance, and pest control, among others. More information is available at http://majesticfacility.com/.