Restoration Builders Expands with Acquisition
Restoration Builders, Inc. announced that it has completed the asset purchase of Elbert Construction, LLC.
Restoration Builders Inc. was founded in 2017 in response to the explosive growth of the $210B+ insurance restoration industry. They have identified an unprecedented opportunity to consolidate existing restoration and repair contractors, which are strategically dispersed 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.
TJ Elbert began working in the roofing industry in 2006, after growing up in a family well entrenched in the construction and home improvement industry. An entrepreneur at heart, TJ quickly identified areas where he felt significant improvements could be made, particularly on the business side of things. In 2008, he founded Elbert Construction with a vision of professionalizing the roofing contractors industry. He was determined to attract and retain a highly skilled team and help those team members build better lives for their families.
Over the next decade, TJ developed and implemented strategies to enhance year-round job stability, improve training and solidify better vendor relationships. As a direct result of these bold and innovative efforts, the business has grown to over $10.1 Million in revenue.
"I am pleased to extend a heartfelt welcome to everyone at Elbert Construction" said John Lorenz, Chairman and CEO of Restoration Builders, Inc. "TJ has systematically built a solid foundation for his team and his customers by developing groundbreaking business processes, exceptional vendor relationships and a culture of innovation. I know they will make a great addition to the team at Restoration Builders."
Roofing repair is high-growth sector of the $49 Billion roofing contractors industry. 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.
The Company projects that their consolidated companies together will achieve approximately $100 Million in revenue for 2019.