HALMOS CAPITAL ANNOUNCES ACQUISITION OF NORTHPOINT ROOFING SYSTEMS AND THE ESTABLISHMENT OF A ROOFING SERVICES PLATFORM

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Northpoint Roofing Systems Operating, LLC

Feb 15, 2023, 11:47 ET

MIAMI, Feb. 15, 2023 /PRNewswire/ -- Halmos Capital Partners ("Halmos Capital"), a private equity firm focused on lower middle-market companies, announced today that it has partnered with Northpoint Roofing Systems ("Northpoint" or "Company") to support its growth and expansion into new markets. NewSpring, a family of private equity strategies, invested subordinated debt and equity to support the transaction.

Northpoint is a leading provider of roof repair and replacement services to single-family and multi-family residential customers in the greater Atlanta metropolitan area. The Company has earned a reputation for providing best in class service to properties that have been damaged by hail or wind and require specialized expertise when navigating the complex insurance reimbursement process. Northpoint also serves customers replacing their roofs without insurance assistance as well as those with solar and gutter installation needs.

As part of the transaction, Northpoint welcomes the addition of Patrick Maginn to its executive team who will serve as Chief Executive Officer of the Company. Patrick joins most recently from Inland Pipe Rehabilitation, where he acted as Chief Operating Officer.

The partnership with Halmos initiates a platform in the roofing services industry which will be led by Patrick and the co-founders of Northpoint, Keith Priddy, Joseph Happe III, and Joseph Happe IV.

"We are excited to enter into a partnership with Halmos and Patrick that will accelerate our growth throughout the country. Access to their collective resources and experience scaling lower middle-market businesses will position the Company for this next phase and allow us to capitalize on opportunities we see in the market," said Keith Priddy, co-founder of Northpoint. "Combined with the intellectual and financial capital provided by NewSpring, we've built an excellent foundation on which we can continue our rapid growth."

"The Northpoint team has built a best-in-class process in the roofing industry, enabled with technology unlike anything that is available in the market. The result allows the Company to provide a high-quality roofing experience with exceptional customer service," said Daniel Adan, Partner at Halmos Capital. "We are excited to partner with NewSpring and support this transaction that positions Northpoint to consolidate the highly fragmented residential roofing market and expand its unique approach into attractive high-growth markets throughout the United States."

"Throughout its history, Northpoint has done a tremendous job expanding across the greater Atlanta area by offering specialty services that filled a significant need in the market. Patrick is a proven leader, and we are confident that he can take the Company into new geographies," said Anne Vazquez, NewSpring General Partner. "We are thrilled to partner with Northpoint and Halmos Capital to continue scaling this business."

Additionally, today Northpoint announced it has acquired Master Roofers ("Master") located in Manchester, New Hampshire. Established in 1942, Master has served the New Hampshire and Massachusetts region for three generations, during which it has developed an extraordinary reputation in roof and skylight repair and replacement in the non-insurance retail market.

The Master purchase represents the Company's first acquisition, and it intends to continue to pursue additional add-on opportunities to build scale and expand throughout the United States.

"I believe the future is bright for Master Roofers under the stewardship of the Northpoint, Halmos, and NewSpring teams. It was important to me that the acquirer of Master take care to protect the brand and reputation my family built over three generations. I am confident our decision was the right one for our legacy, employees, and customers," said Dan Bolduc, owner of Master Roofers.

As part of the transaction, Patrick Maginn, Dan Adan, and Anne Vazquez join the Northpoint Board of Directors.

About Halmos Capital Partners
Halmos Capital Partners is a private equity firm that invests in leading lower middle market businesses. It is focused on partnering with best-in-class management teams to build companies in niche markets with an operational focus. Halmos aims to transform small capitalization and entrepreneurial businesses into institutional platforms positioned for continued growth and investment. Please visit www.halmoscapital.com for more information.

About Northpoint Roofing Systems
Founded in 2019 and headquartered in Atlanta, GA, Northpoint is a leading provider of roof repair and replacement services, primarily for single-family and multi-family residential customers. The company also provides roof restoration services to commercial customers as well as solar and gutter installation services. The Company's leadership team has developed a unique tech-enabled customer centric model delivering best in class quality and customer satisfaction. Additional information is available at https://www.northpointroofingsystems.com/.

About NewSpring
Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $3.0 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 200 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit www.newspringcapital.com.

SOURCE Northpoint Roofing Systems Operating, LLC