Insights & News
Trinity Hunt Portfolio Company Fleet Response Acquires RestorePro Reconstruction
CHATTANOOGA, Tenn. (March 14, 2022) — FourBridges Capital Advisors, an investment banking firm that helps business owners sell their companies, refinance debt or access growth capital, announced today that RestorePro Reconstruction, Inc. (RPR) has been sold to Fleet Response, a portfolio company of Trinity Hunt Partners. FourBridges structured and negotiated the deal on behalf of RestorePro.
Headquartered in Raleigh, North Carolina, RestorePro Reconstruction provides fire, water and mold restoration services to commercial and residential customers. Founded in 1986, RPR was acquired by CEO Ryan Jackson in 2016. The company partnered with private equity firm Sovereign’s Capital in 2020, and expanded to six facilities across North Carolina and Tennessee. Jackson and other key members of the management team will continue to work with Fleet as an “affiliated company,” with a focus on expanding the service footprint.
“In this rapidly changing landscape, RestorePro wanted to partner with someone that put as much value into our people, as we do our clients,” said Luke Wind, Chief Operations Officer. “Joining Fleet Response and sharing core values with their other partner companies will only strengthen our bond with our clients who know they can continue to count on us every day in their time of need.”
“As a private equity firm, we understand how complex and time-consuming it can be to sell a company,” said Michael Tremain, Managing Director at Sovereign’s Capital. “And as a significant owner of RPR, it was important for us to partner with an experienced advisory team that could maximize value on the best terms possible, while handling the heavy lifting of getting the deal closed.”
The team at FourBridges capitalized on their experience in the specialty construction, building materials and contract services sectors, and delivered on all fronts.
“FourBridges was pleased to generate a number of solid offers from top tier buyers in an aggressive market,” said Ralph Montgomery, Managing Director at FourBridges. “At the end of the day, Fleet and their private equity partner Trinity Hunt emerged as the best fit because they share the values of RPR, and are deeply aligned on both a strategic and cultural level.”
“We were dedicated to helping RPR and Sovereign Capital achieve their objectives in this transaction, from preserving the company’s legacy and culture to maximizing value for shareholders,” added FourBridges Vice President Andrew Allred. “Exiting shareholders achieved a strong return on their investment and were rewarded for years of hard work and the expansion of the business in the Raleigh community and throughout the Midatlantic region.”
With the acquisition, Fleet expands its geographic reach with an established brand backed by an excellent reputation. The extensive resources of Fleet and Trinity Hunt will allow RestorePro to expand faster and service clients even better.
The FourBridges advisory team included Ralph Montgomery, Andrew Allred and Chris Rowe. Legal advisors to RPR were David Spiller and Merrill Nelson of Miller and Martin (Chattanooga).
About Fleet Response
A family-run business since 1986, Fleet provides claims management, accident management, driver safety training and subrogation. The Cleveland-based business serves companies that self-insure truck and auto fleets, specialty insurers and delivery contract services.
About Trinity Hunt
Dallas-based Trinity Hunt is a private equity firm with over $1.2 billion under management. Founded in 2005, Trinity has invested in more than 27 platform companies and closed on numerous add-on transactions.
About Sovereign’s Capital
Based in Raleigh, NC with offices in Silicon Valley, Atlanta, Nashville and Chattanooga, Sovereign’s provides capital and strategic partnership to values-driven, market-leading companies. They primarily invest in two market segments: profitable, lower middle market companies and promising, early-stage technology companies.
FourBridges Capital represents business owners who are thinking about selling their company, making an acquisition, or refinancing. The partners run a proven process to identify quality buyers, achieve the best value, and close a deal fast.