Restoration Builders Expands into the Midwest Market with Acquisition of Mid America Exteriors
FOR IMMEDIATE RELEASE
Scottsdale, Arizona – September 30, 2019 – Restoration Builders, Inc. (“Restoration Builders” or “The Company”) announced today that it has officially acquired the assets of Mid America Exteriors, Inc. and Mid America Adjusters, Inc. (“Mid America”).
Restoration Builders Inc. was founded in 2017 in an effort to meet the explosive demand of the $210B+ insurance restoration industry. They have identified a unique consolidation opportunity of existing restoration and repair contractors, dispersed strategically across the United States. To date, The Company has signed asset purchase agreements with 15 privately held businesses and has scheduled the integration of each business over the next several weeks.
The Company anticipates the combined entity will produce over $100 Million in revenue during 2019.
Mid America was founded by 11-year industry veteran Michael Armalis. Upon noticing a neighbor’s difficulty having his roof repaired, Mike immediately knew he wanted to help. He took a position assisting customers with getting estimates for repair services and began learning the business from the ground up. In 2011, he started Mid America, with the goal of streamlining the restoration process for customers. Mid America services the greater Chicago area, along with counties within Illinois, Indiana and Wisconsin. The company reported $11.8 Million in revenue for 2018.
“I am very pleased to welcome Mid America to our team”, stated John Lorenz, Chairman and CEO of Restoration Builders, Inc. “This group is known for its high-quality work, exceptional customer service and a full-service program which includes dedicated project managers as well as assistance with insurance paperwork. I truly believe that Mid America shares the same values as Restoration Builders and will make a tremendous addition to our growing network.”
Roofing, siding and window remediation and repair is a high-growth sector of the $58 Billion roofing contractor’s industry. An estimated five million roofs are replaced each year. The field is considered fragmented and largely comprised of local, privately held companies. The vast majority of customers are insurance policy holders filing a replacement or repair insurance claim.
About Restoration Builders, Inc.
Restoration Builders is a residential and commercial contractor operating within the United States. Our mission is to protect, restore and build properties, strengthen families and support community. We are committed locally and ready to serve wide scale for disaster response. To learn more about us, please visit our website at www.restorbuilders.com.
About Mid America
Mid America Exteriors has over 20 years of experience in the exterior general contracting space. From roofing to siding and all kinds of restoration work, they are dedicated to helping their customers no matter how big or small their needs. While mainly focused on roofing, siding, gutters and windows, they also provide expert water and fire damage restoration and mold removal. For more information, please visit www.gomidamerica.com.
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