Bow River Capital Recapitalizes Progressive Roofing, a Leading Provider of Commercial Roofing Services
DENVER, October 5, 2021 /PRNewswire/ — Bow River Capital (“Bow River”), an investment firm based in Denver, Colorado, announced today that it has completed the recapitalization of Progressive Roofing (“Progressive” or the “Company”).
headquarters in Phoenix, ArizonaProgressive Roofing is a full-service commercial roofing company that provides re-roofing, new construction, service and emergency repair solutions to customers in education, government, industrial, healthcare, hospitality and retail. Acting as a value-added partner to customers, Progressive offers unique roofing solutions, as well as consistent, safe and high-quality project delivery. Progressive’s self-performance model emphasizes technical excellence in both large, complex projects and minor maintenance repairs. From concept to project completion, the company focuses on creating long-term value for customers.
Mark Farrell, Progressive’s Chief Executive Officer, said: “Progressive’s commitment to customers and quality, underpinned by our family-oriented culture, is at the heart of the company’s success. Throughout our decades-long history, our leadership team has continuously explored new developments in roofing materials, technologies and installation, and our highly trained, trained and certified professionals continue to do an extraordinary job every time we step onto a roof.” Farrell’s long-standing partner and progressive shareholder Mike Hadden continued, “We couldn’t be more excited about partnering with Bow River, and we look forward to continuing to invest in the way we serve our customers and support the growth of our company and our employees.” Nick Hadden added: “We are excited to grow the Progressive brand into new markets through existing and new customer relationships and to continue our commitment to providing best-in-class roofing systems.”
Bow River Capital aims to invest in leading mid-market companies that provide infrastructure solutions. “Progressive is an industry leader in commercial roofing solutions and the leadership team has built a long list of customers who trust the company time and time again,” the commentary said. Greg Hiatrides, director at Bow River Capital. He added: “Progressive has a great reputation dating back decades, and we are excited to be a part of its ongoing success story.” Adi Leonard, Senior Associate at Bow River Capital, added: “As we look at the state of rooftop infrastructure in Progressive’s key markets and across the country, it is aging and the repair/replacement decision is not discretionary. , patients, governments, consumers, and event fans rely on Progressive to maintain the integrity of the building. We look forward to expanding the company’s footprint to advance communities across the country.”
Progressive’s management team (which participated in the recapitalization) will maintain a meaningful ownership stake in the company and continue to lead the organization and deliver quality services to customers as they have done for decades.
Brownstein Hyatt Farber Schreck, LLP was legal counsel to Bow River. Gammage & Burnham served as legal counsel to Progressive.
About Progressive: Progressive Roofing and its subsidiaries provide commercial roofing services to direct customers and general contractors. The company’s range of services covers all roofing types and includes design-build, retrofit/re-roofing, emergency or break-fix repair and maintenance. Progressive operates on a super-regional scale, driven by local sales and delivery. The company has established a market leading position by completing thousands of renovation and new construction projects in some of the most challenging environments across Europe. the United States. https://progressiveroofing.us/
About Bow River Capital: Bow River Capital is a privately held alternative asset management firm based in: Denver, Colorado, focused on lower-mid-market investing in three asset classes, including private equity, real estate and software growth capital. https://bowrivercapital.com/
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SOURCE Bow River Capital