SCOTTSDALE, Ariz., January 14, 2020 / PRNewswire / – Restoration Builders, Inc. (“Restoration Builders” or “The Company”) announced today that an asset purchase has been completed from Tyler, TX headquartered at AVCO Roofing, Inc. (“AVCO”).
Founded in 2017 in response to the explosive growth of the insurance restoration industry valued at over $ 210 billion, Restoration Builders Inc. has raised capital by consolidating existing restoration and repair businesses across the region United States. At the time of this writing, the company has signed asset purchase agreements with 15 privately held companies, with each integration planned for the next several weeks. Overall, the consolidated companies are expected to generate more than that $ 100 million Revenue for 2020.
Heath Hicks, Owner of AVCO Roofing, Inc., started repairing roofs when a good friend asked him to join the company he worked for. Heath quickly found that not only was he selling construction repairs, but he was also making a difference by helping families in need. That ultimately got him addicted.
Heath bought AVCO shortly after its founder’s death in 2014. In that first year, Heath and his team grew the business by 400% and the following year by an additional 300%. Since then, AVCO has grown to 6 locations and more than 40 team members in the office and over 70 team members on site. In those first four years the income increased from $ 1 million to $ 25 million.
The team continues to demand excellence on every project and is proud to be considered an industry leader after recently receiving coveted awards for both Top Growth and Sales Excellence. Heath decided to switch to Restoration Builders out of a deep desire to offer its customers even better service. With this acquisition, he hopes to continue driving positive changes in the industry and improving the overall perception of commercial professions.
“I am very proud to announce the acquisition of AVCO Roofing,” he said John Lorenz, Chairman and CEO of Restoration Builders, Inc. “This is an award-winning group with deep connections within their community. Heath is a well-respected industry speaker and business mentor who has established a culture of teamwork, family and fun. They are strong Beliefs align perfectly with our core values, some of which include customers, relationships and the need for excellence first. I look forward to building our prosperous future together. “
Roof repair is one of the fastest growing sectors in the $ 49 billion Roofing industry. The industry consists mainly of local, privately owned companies and is highly fragmented. The majority of roofers today are policyholders who want to use their coverage to finance a repair or replacement project.
About Restoration Builders, Inc.
Restoration Builders is a residential and commercial company that operates within The United States. Their mission is to protect, restore, and build property, empower families, and support the community. They are locally committed and ready to provide large-scale disaster relief. To learn more, please visit the website at www.restorbuilders.com
About AVCO Roofing, Inc.
AVCO Roofing’s mission is to protect homes, empower families and build communities. They never try to sell customers something they don’t need, and they always offer the best long-term rooftop solution. Regardless of whether it is a minor roof repair or a complete roof replacement, AVCO Roofing offers first-class service – on time and within budget. For more information, please visit: www.avcoroofing.com.
For further information please contact:
Janet Carnell Lorenz
SOURCE Restoration Builders