Exclusive financial advisor to Patuxent Roofing & Contracting, Inc.

KPMG Corporate Finance LLC acted as exclusive financial advisor to Patuxent Roofing & Contracting, Inc.

KPMG Corporate Finance LLC is pleased to announce the majority equity sale of Patuxent Roofing & Contracting, Inc. (PRC or the Company) to New State Capital Partners, LLC. (NSCP).

Founded in 2008, Patuxent Roofing & Contracting is a leading provider of roofing installation, waterproofing, and related services. The Company is headquartered in Laurel, Maryland and primarily focuses on reroofing services for government, institutional, industrial, and multifamily end markets in the Mid-Atlantic region of the U.S. PRC’s skilled base of employees, technical and operational expertise, and strong, long-term relationships with customers have contributed to robust growth over the past decade.

Mike Gowl, president and CEO of Patuxent Roofing & Contracting, commented on working with the KPMG CF team, “The KPMG Corporate Finance team provided informed, constructive guidance throughout the transaction process. They understood our transaction objectives, and worked diligently to navigate towards them from kickoff through closing.”

“We are excited to invest in a premier player in institutional and commercial reroofing services,” said Kurt Lentz, senior principal at New State. “We were attracted to Patuxent given its recurring revenue customer profile, proven stability through economic cycles, and abundant growth opportunities. We look forward to working with Mike and his team to continue to accelerate the Company’s growth.”

Douglas Walker of McAllister, DeTar, Showalter, & Walker LLC acted as legal advisor to the seller.

About New State Capital Partners

New State Capital Partners is a New York-based private equity firm founded in 2013. The firm seeks to invest in strong companies and management teams based in the U.S. across a broad range of industries including aerospace and defense, business services, chemicals, industrials, logistics, and transportation.

KPMG Corporate Finance

The global Corporate Finance practice of KPMG International network of independent member firms was ranked number one as the top M&A middle-market adviser globally by Refinitiv, based on number of completed transactions, for the past 20 years.

Trust KPMG Corporate Finance LLC with your next transaction.

KPMG Corporate Finance LLC

‹

›

Ian Pemberton

Managing Director, KPMG Corporate Finance LLC

+1 443-986-2779

Corporate finance services, including Financing, Debt Advisory, and Valuation Services, are not performed by all KPMG member firms and are not offered by member firms in certain jurisdictions due to legal or regulatory constraints. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation.

The information contained in this communication may not be representative of the experience of other clients and does not constitute a recommendation, offer, or solicitation to buy, sell or hold any security of any issuer. Past performance does not guarantee future results.

©2023 KPMG Corporate Finance LLC, a Delaware limited liability company. Member FINRA/SIPC. KPMG Corporate Finance LLC is a subsidiary of KPMG LLP, a Delaware limited liability partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. KPMG Corporate Finance LLC is not engaged in the practice of public accountancy. All rights reserved. The KPMG name and logo are registered trademarks or trademarks of KPMG International.