Stronghouse Solutions Acquires Gustafson Roofing
We are incredibly pleased to partner with Stronghouse, an organization that shares our vision for quality, growth, and innovation.
Stronghouse will support Gustafson by providing best-in-class processes, capital investment, technology innovation, and operational support. Gustafson is expected to bolster Stronghouse's rapidly growing retail exterior division and serve as a key regional hub enabling further growth and expansion across the Southeast.
'We are excited to partner with Gustafson.' said Troy Baker, Chief Revenue and Operating Officer of Stronghouse. 'We identified Gustafson as an operator uniquely positioned to expand its footprint both within its existing markets as well as into new markets. Their leadership under Frank Mercado, Ryan Gustafson, and Mike Gustafson, Jr. has provided high-quality services and excellence across Palm Beach County. Stronghouse looks forward to providing the resources to build on their impressive 75-year legacy.'
Established in 1948, Gustafson is led by Frank Mercado who serves as CEO of the third-generation family-owned business alongside Ryan Gustafson and Mike Gustafson, Jr. in key leadership and operational roles. The brand's strong reputation for delivering superior roofing and exterior services has garnered decades of referral business throughout Palm Beach County.
'We are incredibly pleased to partner with Stronghouse, an organization that shares our vision for quality, growth, and innovation,' said Mercado. 'Stronghouse went to great lengths to understand our business and develop a forward-looking plan for sustainable expansion to meet the increasing demand for quality residential exterior services.'
Stronghouse is dedicated to executing a purposeful growth strategy by partnering with leading exterior services operators in attractive markets. Please contact Mike Hilcove at mhilcove@stronghousebrands.com for more information or to discuss new development opportunities.
About Stronghouse Solutions
Stronghouse Solutions is an industry leading provider of roof replacement and repair and other exterior home services to residential customers across the United States. Stronghouse is headquartered in Oakbrook Terrace, IL. For additional information, please visit stronghousebrands.com.
About Gustafson Roofing
Gustafson Roofing is a regional provider of roofing and other exterior home services to residential customers across Eastern Florida. Gustafson is headquartered in Boynton Beach, FL. For additional information, please visit giroofers.com.
About O2 Investment Partners
O2 Investment Partners is a Midwestern-based private equity firm that seeks to invest in lower middle-market niche services, technology, and select industrial companies. The firm invests in businesses with earnings growth potential and a clear path to creating shareholder value. O2 invests to partner with management to build and grow the business and take it to its next stage of development. This requires a clear vision and strategic plan to create shareholder value, close partnership, and alignment of interest with management. For additional information, please visit www.o2investment.com.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
7 minutes ago
- The Hill
Spirit Airlines warns about its ability to stay in business over next year
Spirit Airlines is sounding alarms about its future operations less than six months after the Florida-based budget air carrier emerged from bankruptcy protection. 'Management has concluded there is substantial doubt as to our ability to continue as a going concern within 12 months,' the airline's parent company, Spirit Aviation Holdings, wrote in its quarterly financial report on Monday. The report, which reflects data through the end of June, cited ongoing concerns about cash flow, market conditions and aircraft fuel prices and availability, among others. Spirit stock took a dramatic tumble Tuesday after the news. The ultra-low-cost airline has struggled to regain its footing since the COVID-19 pandemic, prompting the company to seek bankruptcy protection in November, which ended in March. The company announced last month that it would furlough about 270 pilots and demote another 140 this year to trim its workforce and schedule. 'We are taking necessary steps to ensure we operate as efficiently as possible as part of our efforts to return to profitability,' the company told The Hill. 'We recognize the weight of this decision and are committed to treating all affected Team Members with compassion and respect during this process.' In Monday's filing, the company suggested that it's examining other avenues to stay afloat, including possibly selling some aircraft and real estate.
Chicago Tribune
7 minutes ago
- Chicago Tribune
Afternoon Briefing: CTA to pay $6M to settle wrongful death lawsuit
Good afternoon, Chicago. The CTA will pay $6 million to settle a wrongful death lawsuit after a city bus struck a woman last year. Chicago resident Sherry Fisher, was struck by a CTA bus and pinned underneath it while she walked in a North Lawndale crosswalk last March, the lawsuit alleged. The crash caused her 'severe injuries,' which she died from nearly three months later, according to the lawsuit. Here's what else is happening today. And remember, for the latest breaking news in Chicago, visit and sign up to get our alerts on all your devices. Subscribe to more newsletters | Asking Eric | Horoscopes | Puzzles & Games | Today in History Chicago Public Schools interim chief Macquline King is resisting pressure from Mayor Brandon Johnson to make a controversial pension payment and borrow millions of dollars to settle the district's budget, a notable twist in what has become a deeply uncertain budget cycle for the fourth-largest school district in the nation. Read more here. More top news stories: A longtime business partner is suing Chicago-based Lettuce Entertain You and its co-founder Rich Melman for allegedly squeezing him out of his ownership interest in the chain's popular Joe's Seafood, Prime Steak & Stone Crab restaurants. Read more here. More top business stories: Coach David Braun was pleased with how quickly Preston Stone built relationships with his new teammates when he arrived on campus in January. Within three weeks, the Wildcats voted Stone onto their leadership council, well before it was publicly official that he would be Northwestern's starter this season. Read more here. More top sports stories: In 2022, the Floating Museum collaborated with Indian artist Kushala Vora to produce a second inflatable, entitled 'The Garden.' Vora looked at colonial plant histories between India and the United States and the impact the plants have in their respective landscapes. Read more here. More top Eat. Watch. Do. stories: The president's rhetoric echoed that used by conservative politicians going back decades who have denounced American cities, especially those with majority non-white populations or led by progressive politicians, as lawless or crime-ridden and in need of outside intervention. Read more here. More top stories from around the world:
Yahoo
21 minutes ago
- Yahoo
Granite continues buying spree as backlog hits $6.1B
This story was originally published on Construction Dive. To receive daily news and insights, subscribe to our free daily Construction Dive newsletter. Granite Construction continued paving a profitable path in the second quarter while racking up a record amount of backlog and buying two aggregate suppliers. The Watsonville, California-based road builder, materials supplier and infrastructure firm purchased Hattiesburg, Mississippi-based Warren Paving and Arroyo Grande, California-headquartered Papich Construction for a combined price of $710 million. Granite's continued investment in material suppliers reflects the firm's bullishness on both public and private infrastructure work, along with the booming data center market. Those facilities, along with computer chips and racks of servers, need roads and parking lots to access them as well. Two aggregate purchases Warren Paving, which owns a quarry, 11 aggregate yards and three asphalt plants along with 170 owned and leased barges on the Mississippi River system, will expand Granite's materials business in the Southeast, while building on its buying spree in the region. In late 2023, Granite scooped up Lehman-Roberts and Memphis Stone & Gravel, both of Memphis, for a combined $278 million. Then last year, it acquired Brookhaven, Mississippi-based aggregate supplier Dickerson & Bowen. On an earnings call Aug. 7 to discuss the firm's second-quarter results, CEO Kyle Larkin said Warren Paving will complement those previous purchases. 'Warren Paving's logistics expertise should allow us to supply materials to certain Lehman-Roberts and Dickerson & Bowen asphalt plants and positions us to expand the distribution network as we continue to grow our Southeast platform investment,' Larkin said on the call. He also highlighted opportunities to supply data center jobsites in the region, which has been attractive to owners looking for cheap land, plentiful power and water and a robust labor pool. 'We believe private investment will ramp up in the region, whether through data centers or other large commercial developments.' In California, Papich will expand Granite's operations along the state's Central Coast and Valley, an area where it currently has less of a presence. 'It's complementary to our current footprint,' Larkin said. The addition of the two businesses will add approximately $425 million to Granite's revenue annually, the company said. It raised its revenue guidance for 2025 accordingly to between $4.35 billion and $4.55 billion and anticipates approximately $150 million in revenue from the units in the remainder of the year. By the numbers The deal was the highlight of a quarter that also saw Granite grow its backlog — which the company calls Committed or Awarded Projects — to $6.1 billion, a company high. That's $488 million more, or 9% higher, than a year ago. Revenue of $1.13 billion increased 4% from $1.08 billion a year ago. The company also grew profits to $71.7 million, nearly doubling the $36.9 million of net income it reported for 2024's second quarter. Larkin attributed the higher revenue, backlog and profits to a robust bidding and funding environment, particularly in the company's core infrastructure markets, as well as more efficient operations and integration within the company. 'In California and across our footprint, we continue to see a healthy list of project bidding opportunities in both the public and private markets,' Larkin said. He also said money from the Infrastructure Investment and Jobs Act, passed in 2021, hasn't reached its apex, which he expects to come in 2026 or 2027. 'IIJA funding continues to be strong,' Larkin said. 'I think that's pretty universal in all the markets that we're in. And just as a reminder, the spending to date on the IIJA is still less than 50%. And so we haven't seen, in our opinion, that peak yet.' Recommended Reading Granite JV lands $158M missile defense project
