SOUTHLAKE, Texas — Gauge Capital, a Southlake, Texas-based private equity firm, today announced the launch of Apple Roofing, a newly branded company after the acquisition of two well respected roofing companies: Crest Exteriors LLC and Apple Roofing LLC. The newly branded company ranks in the top ten of residential roofing companies in the United States.
Crest Exteriors, based in Plano, Texas, has been providing roof repair, replacement, and other related services to residential and commercial customers throughout the central, south central United States for more than seven years. Co-founders Sam Struthers and Logan Graff will continue to manage the business in partnership with Apple Roofing.
Apple Roofing, founded in 2011, is a Lincoln, Neb.-based roofing restoration company serving residential and commercial customers in Nebraska, Missouri, Iowa, and Arizona. Co-founders Marcus Kuhlmann and Dustan Biegler will continue to manage the business in partnership with the new entity.
"The joining of the two companies is a win-win for both our customers and our dedicated employees as it enables us to enhance our existing capabilities throughout our service territory while providing us with unique opportunities to strategically scale our footprint," said Sam Struthers.
Both companies have appeared on RC's Top 100 list, including the 2021 list where Crest Exteriors earned the 47th spot with $42 million in revenue and Apple Roofing earned the 54th spot with $35.1 million in revenue.
“When you combine our catastrophe-response team’s 'Crest Hustle' with Apple’s outstanding storm, residential and broker-focused sales teams, it is clear we will have created something unique in the roofing industry,” said Graff.
Apple Roofing co-founders Biegler and Kuhlmann echoed their counterparts at Crest and commented on the combined businesses growth potential.
“The merger of our two teams under the Apple Roofing banner positions us for incredible organic growth over the next several years,” said Marcus Kuhlmann. “This new company allows us to serve every type of roofing need: traditional repair/replacement and storm-related damage – all while also being the roofer-of-choice for property/casualty brokers and insurance carriers,” said Biegler.
The formation of Apple Roofing was created by Gauge to provide capital solutions to roofing company operators looking for either an ownership transition or to partner with a group of experienced executives to accelerate growth and help build the largest and best-in-class regional roof repair and replacement company.
"We have been impressed with what Dustan, Sam, Marcus, Logan and the rest of the Apple and Crest teams have created and are excited about the combined partnership’s mission to build a national leader in the roofing industry," said Tom McKelvey, co-founder and managing partner at Gauge Capital. "Both companies have established a reputation of excellence through high quality, integrity, and a focus on serving the customer, and we look forward to achieving our shared vision for growth."
In addition to serving as a capital partner, Apple Roofing brings operating, business development, financial, strategic, and other advisory skillsets to assist its roofing company partners in successfully scaling their businesses. The newly formed company is actively engaged in acquiring and operating additional regional roof repair and replacement companies to enhance and expand service areas throughout the central United States.
Gauge Capital tapped Shawn Lucht to lead the company as its CEO. Lucht brings more than 30 years of residential and commercial service leadership and has a proven track record of generating consistent revenue and profit growth. Prior to joining Apple Roofing, he served as CEO of Environmental Pest Service.
