Everberg Capital announced that it has provided senior term loan financing to support Saw Mill Capital's formation of SMC Roofing Solutions.
SMC Roofing Solutions is a multi-regional, residential reroofing services platform focused predominantly on insurance-claim demand relating to windstorm and hail damage. To date, SMC has acquired three well-known roofing businesses, establishing a presence across several states. The company operates in a large subsegment of the residential roofing industry that is non-cyclical and highly fragmented.
SMC has a scalable platform that leverages a solid organization, insurance claim expertise and a network of labor crews. The company also claims it has "strong brand recognition and high customer satisfaction," with a large part of its business coming from referrals.
The SMC loan marks Everberg Capital's ninth and latest investment for Everberg Capital Partners II, LP.
"We have had a successful long-term relationship with the principals of SMC's financial sponsor, Saw Mill Capital, and are excited to support them in this acquisition and further acquisitions," said Everberg Managing Partner Scott Siegel. "In a world of climate uncertainty and aging infrastructure, SMC's got you covered."