ONCAP acquired a majority position in Tecta America ("Tecta") in August 2016.
Based in Rosemont, Illinois, Tecta is the leading provider of commercial roofing services in the United States. The company employs ~3,000 roofing professionals at more than 60 locations across the U.S. and offers a comprehensive suite of roofing services, including: re-roofing, service and maintenance, and new construction.
Accomplishments and Outcome
ONCAP was attracted to (i) Tecta's leading market position; (ii) experienced management team; (iii) proven acquisition platform with an opportunity to consolidate a fragmented market; (iv) focus on stable re-roofing and maintenance services; (v) strong free-cash-flow characteristics; (vi) and excellent diversity across geography, customers, and services. ONCAP, in partnership with the Company's management team, intends to leverage Tecta's industry-leading operating model to build a larger, more geographically-diverse roofing business by consolidating a fragmented market and expanding the Company's service offering.
In November 2018, ONCAP completed the sale of Tecta.