First Acquisition by HCI’s Newly Established Roofing Industry Platform
BALDWIN PARK, CA, August 11, 2023 – HCI Equity Partners (“HCI”), a leading lower middle-market private equity firm, today announced that its newly established platform Highland Commercial Roofing (“Highland”) acquired Skycraft Roofing (“Skycraft”) on August 1, 2023. Financial terms were not disclosed.
Highland, headquartered in Baldwin Park, California, is a commercial roofing contractor that performs roof repair and maintenance services to a diversified mix of commercial, industrial, office and multi-family properties. The Company currently operates in five regions—Southern California, Northern California, Arizona, Nevada and the Pacific Northwest. Highland’s roof repair product offering includes sprayed polyurethane foam, single-ply and a product known as the RainShield® solution. The Company’s core customers are real estate development firms and property management companies who provide Highland with sales opportunities across the Western U.S.
Skycraft, founded in 1958 and based in Buena Park, California, has been family owned and operated by Mark and Phillip Mulligan for over 50 years. The Company has a loyal commercial and industrial customer base in the greater Los Angeles area and specializes in single-ply and built-up roofing systems, coatings, maintenance and repairs. Skycraft will continue to operate as a standalone entity within the Highland group of companies. Highland will benefit from Skycraft’s single-ply capabilities and additional crews, while Skycraft’s customers gain immediate access to Highland’s commercial roofing services in several neighboring states.
Mark Mulligan, Skycraft President, said, “We’re excited to partner with Highland’s team. The companies’ combined history of serving Southern California for nearly a century is a testament to the shared commitment to excellence.”
“This is a great day for Highland and the future of the company,” added Rob Keen, Highland President. “We’re proud of the service levels we’ve already established in Southern California, and excited that working with the Skycraft team will enable us to deepen our service offerings and relationships in the area.”
Scott Gibaratz, Partner at HCI, said, “We are very pleased that Skycraft, with its strong performance and long-term, loyal customers, will be part of the growth of Highland as we take this first step in building out HCI’s commercial roofing platform. We look forward to our continued partnership with Highland, a best-in-class roofing company, as we support its future growth.”
Cruz-Abrams Seigel served as legal counsel to HCI.