Altas Partners to acquire Rosemont firm from ONCAP
Altas Partners, a long-term oriented investment firm, announced it has signed an agreement to acquire Tecta America Corp. from ONCAP, the midmarket private equity platform of Onex.
Rosemont-based Tecta America is a national commercial roofing services firm. Financial terms of the transaction were not disclosed.
Tecta America employs more than 3,000 roofing professionals and operating across more than 60 locations from coast to coast. The Company provides a comprehensive set of commercial roofing services to national and local customers across a spectrum of industries and end markets. Tecta America's full suite of value-added roofing services includes installation, replacement, repairs and maintenance, new construction, disaster response and advanced sustainability options.
"We are thrilled to partner with Altas as we continue to execute on our growth opportunities - both organically and through selective acquisitions. Furthermore, we're excited to leverage the firm's support and expertise as we continue to focus on delivering best-in-class service to our customers and being the employer of choice in the roofing industry," said Mark Santacrose, president and CEO of Tecta America. "We greatly value the support and commitment ONCAP provided throughout its ownership, as well as its confidence in our people and our future."
"Tecta America's strength as a national company with deep local relationships has enabled its evolution into the largest commercial roofing contractor in the U.S.," said David Brent, a partner at Altas.
"We're proud of everything we accomplished together with Tecta America. During our ownership period, we worked closely with Tecta management to enhance the Company's acquisition capabilities and strengthen the business' operating performance. We wish the Tecta America team all the best as they continue to execute on their proven growth strategy," said Edmund Kim, a principal at ONCAP.
The transaction is expected to close during the fourth quarter of 2018, subject to customary closing conditions and regulatory approvals.