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.
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