Ft. Lauderdale, Fla. -- Best Roofing, RC's 2018 Commercial Roofing Contractor of the Year, announced a new partnership with Harkness Capital Partners.
Terms of the deal were not disclosed, but officials said it culminated six months of negotiations at a time when the company continues to experience rapid expansion.
The partnership is an opportunity to enhance Best Roofing's competitive edge in South Florida's robust roofing market and achieve long-term stability for employees, said President and CEO Gregg Wallick. It also indicates more moves are likely to come.
"We are thrilled to embark on this partnership with Harkness Capital Partners," said Wallick in a written statement. "Their expertise and resources will be invaluable as we negotiate the next phase of our growth strategy."
Wallick said that he and son, Ian, company COO, will push forward with plans to build a new corporate headquarters, expand into the northern Palm Beach market, and integrate critical new technology to enhance Best Roofing's growth.
According to a news release, Harkness' approach to business includes:
- Investing in industries within the services sector that are familiar to them.
- Concentrating on lower middle-market businesses during pivotal moments of growth
- Seeking opportunities to enhance teams, services, and operational scalability.
- Engaging their team of operating investors and investment professionals to assist with post-investment growth strategies.
- Ensuring alignment of economic and financial interests with owners and managers to foster mutually beneficial outcomes.
"We are excited about what the future holds with this strategic partnership and look forward to continuing to serve our customers with the highest standards of quality and professionalism," Ian Wallick said in the statement.
