Northeast Contracting Corporation, a commercial roofing concern based in Lorton, Va., specializing in offices, industrial facilities, and educational institutions, has undergone a significant equity recapitalization through RCap Equity Partners of Philadelphia.

The recap, announced yesterday in a news release by RCap Equity, a division of Renovus Capital Partners, said the middle market private equity firm partnered with Monroe Capital LLC and NECC's existing shareholders to execute the cash infusion. Terms were not disclosed. 

NECC, founded in 1994, offers professional roofing, repair and maintenance services to markets including the District of Columbia, Virginia, Maryland and Florida. The family-owned business is led by brothers Eion and Sean Kelley, who oversee daily operations. 

Eion Kelley, NECC’s CEO, said the company was “thrilled” to partner with RCap: “With their support, we will continue to invest in our team, expand our service offerings and footprint, and pursue strategic acquisitions.”

RCap Equity makes control equity and select minority investments in lower middle-market businesses, according to the outfit’s LinkedIn profile; it partners with owners and management teams [that] share “our vision of creating long-term value and elevating companies to the next level.”

Its parent outfit, Renovus Capital, was ranked No. 1 on the HEC-Dow Jones Small-Cap Private Equity Performance Rankings and has $1.5 billion under management. RCap Partner Matthew Raymon said of the NECC investment: "We look forward to partnering with the NECC team and supporting their continued success; this is an exciting time in the commercial roofing industry and NECC has built a best-in-class operation."