Best Roofing partners with Harkness Capital Partners
CCG Advisors (“CCG”) announced on April 1, 2024, that it served as the exclusive financial advisor to Best Roofing Services of Florida (“BEST” or the “Company”) in its partnership with Harkness Capital Partners (“Harkness”) of New York.
CCG was referred to Gregg Wallick, owner and CEO of BEST, and cultivated a relationship of trust over more than a decade. The roofing industry is undergoing rapid consolidation with 60+ private equity backed commercial and residential platforms with many more looking for a platform investment and thus BEST had an incredible amount of inbound interest from buyers.
Brian Corbett, CCG Founder and Managing Partner, shared “BEST, a long-standing leader in southeast Florida’s commercial service and re-roofing sector is exactly what the buyers are looking for. A platform company of scale with industry leading systems and a culture of excellence.”
CCG was initially retained to negotiate with a well-known buyer that had approached the Company. Recognizing Best Roofing’s unique market presence, strong financial performance, and record level of investor interest, CCG advised Best Roofing to run a targeted auction process to generate competitive tension amongst select private equity buyers.
CCG’s limited auction process yielded offers that were superior in every aspect. Total valuation, cash at closing, retained ownership and opportunities for the broader BEST leadership team along with alignment around the growth strategy for the Company. Harkness proved to be the best partner and CCG is both thankful and honored to have led the transaction for Gregg and the entire team at BEST.
Gregg Wallick shared “I am a construction professional, specifically, I have been a commercial roofing professional my entire career and can navigate through most any issue. However, when it came to finding an equity partner and selling a substantial portion of my business, I am a novice.
Over the past 10 years I have watched Brian Corbett and the team at CCG represent two of my friends as they achieved successful transactions in the specialty contracting space. So, when I decided to explore my options, Brian and CCG were the only people I trusted to represent me and BEST Roofing.
Getting the right price is one thing but getting the right partner is everything. Finding a partner whose vision matches your vision is paramount. For most of us who have been in the business for a long time our employees become like family and I felt I owed it to the people who helps us achieve our success the security of aligning with the right new partner.
From getting us prepared to go to market, finding the right investors to helping negotiate the final deal. Whatever it took, they were with us 24/7. I could not be happier with the result we achieved from working with Brian, JT and Ryan at CCG- they get 5 Stars from me!”