Media
Huron Capital’s Platform 1-800 HANSONS Acquires Paramount Builders, LLC
Acquisition Accelerates 1-800 HANSONS’ Expansion Into the Mid-Atlantic Region
Detroit – May 15, 2024 – Leading middle-market private equity firm Huron Capital (“Huron”) announced today that its portfolio company, 1-800 Hansons (“Hansons” or “the Company”), a premier provider of residential repair and renovation services with a focus on windows, roofing, siding, gutters, and one-day bath solutions, has acquired Paramount Builders, LLC (“Paramount”). Established in 1991, Paramount is an established home repair provider based in Virginia Beach, Virginia, serving homeowners throughout the Mid-Atlantic and Southeastern United States with a comprehensive offering of renovation products and solutions.
The Paramount acquisition accelerates Hansons’s strategy to become one of the fastest growing residential repair and renovation platforms within the United States, expanding the platform’s presence into two highly attractive geographies. Following the acquisition, the combined Hansons platform will operate 23 branches across 14 states within the Midwest, Mountain West, Mid-Atlantic, and Southeast regions.
“Hansons is excited to partner with the Paramount team to continue our path towards becoming the provider of choice for residential repair and renovation services in the United States,” said Joe Stackhouse, CEO of Hansons. “Paramount has developed a strong brand presence through its sophisticated marketing capabilities, full suite of exterior and interior solutions, and best-in-class service delivery that offers strong alignment with Hansons’ capabilities and market-leading position.”
“Hansons’ well-earned reputation in the renovation and repair industry, Joe’s commitment to employees and culture, and the Company’s differentiated technology-enablement extended across its branches made them the ideal partner for our team,” said Ed Augustine, President and CEO of Paramount. “We are enthusiastic for our partnership with Hansons that will further support Paramount’s next chapter of growth both organically and via acquisition.”
“Over the past two years, the Hansons team has been exceptional at driving growth through expanding its offering of home renovation solutions and successfully launching six organic branches within adjacent geographies,” said Brian Rassel, Partner at Huron. “Paramount has developed a long-standing brand within its served markets and has experienced similar success from new product launches and geographic expansion. We are thrilled to partner with Ed and the rest of the team to strengthen their position in the market through utilizing Hansons’ sophisticated technology platforms, applying a best-in-class omni-channel marketing strategy, and enhancing their existing service offerings.”
Honigman LLP served as legal advisor and Moss Adams LLP served as financial diligence advisor to Hansons and Huron. Angle Advisors served as the exclusive investment banking advisor to Paramount.
About Huron Capital
Huron Capital is a leading lower middle-market private equity firm focused on partnering with outstanding management teams to build leading service companies. Through HCP Services, we bring a people-first and thematic approach to investing in mission-critical service companies in the infrastructure, facility and residential sectors where we have a long history of success, proven playbooks and extensive resources. We seek to make control investments in leading service businesses with $20 million to $200 million in revenue.
With our operational resources, we empower our management partners to drive significant growth through initiatives such as professionalizing operations, improving service offerings, executing M&A strategies, and accessing new markets. We pride ourselves on an unwavering commitment to candor, trust, accountability, and transparency in our relationships with management teams, investors, advisors, and employees.
Founded in Detroit in 1999, over the past 25 years we have acquired more than 275 companies through seven investment funds, managing over $2 billion in capital on behalf of a global institutional investor base. Through our proprietary ExecFactor® program, we utilize a proactive, thesis-driven investment process to identify the best potential management teams and investment opportunities in our core sectors.
About 1-800 Hansons
1-800 Hansons, based in Troy, Michigan, is a premier direct-to-consumer home repair and renovation provider, delivering a comprehensive portfolio of exterior and interior product solutions to residential customers. Hansons has served homeowners for over 30 years, completing installations for over 180,000 customers through its windows, roofing, siding, gutters, and one-day bath product offerings.
Contact
Edward Lopez
Prosek Partners
Certain information herein may contain forward-looking statements which are provided to assist the reader in understanding the beliefs and opinions with respect to future opportunities as perceived by Huron Capital and others quoted herein. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance in future periods to differ materially from any projections or results expressed or implied by such forward-looking statements. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The issuer of these statements undertakes no obligation to update forward-looking statements if circumstances or estimates or opinions should change except as may be required by applicable securities laws.
