Private investment company Sun Capital Partners’ affiliate has acquired Latite Roofing & Sheet Metal, a provider of roofing services in Florida, US.
The financial details of the transaction have not been disclosed.
This deal is expected to bolster Sun Capital's presence in the state's construction sector, particularly within the roofing industry.
Latite Roofing & Sheet Metal, established in 1943, offers various roofing solutions, including reroofing, service and repair, and new construction.
With more than 80 years of experience, the company claims to have executed a variety of complex commercial and residential projects.
Sun Capital Partners has invested in approximately 545 companies across various industries since 1995, with combined revenues exceeding $50bn.
The company focuses on businesses in the services, food and beverage, and industrials and distribution sectors, with offices in Boca Raton, Los Angeles, New York, and an affiliate in London, UK.
Sun Capital principal Matthew Joblove said: "We are thrilled to partner with Latite as a platform in the growing Florida building services market.
"We look forward to supporting the Latite team with our strategic insights and operational resources to help drive growth and solidify its leadership position. This partnership is a natural extension of our approach to working with services businesses to create long-term value for all stakeholders."
The roofing industry in the state is anticipated to grow steadily due to increasing reroofing needs and ongoing construction.
Latite is claimed to be equipped to meet this demand with its established presence and a broad range of roofing services.
Latite Roofing & Sheet Metal chief CEO Jeff Burks said: "This is a pivotal moment for Latite, and we're thrilled to begin this next chapter with Sun Capital.
"Their operational expertise, local presence in Florida, and M&A [merger and acquisition] approach are a great fit for our business. Together, we'll build on our 80-plus-year history of delivering exceptional service to our customers."
