March 2022
Southlake, TX – Gauge Capital, a Southlake, Texas-based private equity firm, today announced the launch of Apple Roofing, a newly branded company after the acquisition of two well respected roofing companies – Crest Exteriors, LLC and Apple Roofing, LLC. The newly branded company ranks in the top ten of residential roofing companies in the United States.
Crest Exteriors, based in Plano, Texas, has been providing roof repair, replacement, and other related services to residential and commercial customers throughout the central, south central United States for more than seven years. Co-Founders Sam Struthers and Logan Graff will continue to manage the business in partnership with Apple Roofing.
Apple Roofing, founded in 2011, is a Lincoln, Nebraska based roofing restoration company serving residential and commercial customers in Nebraska, Missouri, Iowa, and Arizona. Co-founders Marcus Kuhlmann and Dustan Biegler will continue to manage the business in partnership with the new entity.
Sam Struthers said, “The joining of the two companies is a win-win for both our customers and our dedicated employees as it enables us to enhance our existing capabilities throughout our service territory while providing us with unique opportunities to strategically scale our footprint.”
“When you combine our catastrophe-response team’s “Crest Hustle” with Apple’s outstanding storm, residential and broker-focused sales teams, it is clear we will have created something unique in the roofing industry,” said Logan Graff.
Apple Roofing co-founders, Dustan Biegler and Marcus Kuhlmann echoed their counterparts at Crest and commented on the combined businesses growth potential. “The merger of our two teams under the Apple Roofing banner positions us for incredible organic growth over the next several years,” said Marcus Kuhlmann. “This new company allows us to serve every type of roofing need: traditional repair/replacement and storm-related damage – all while also being the roofer-of-choice for property/casualty brokers and insurance carriers,” continued Dustan Biegler.
Tom McKelvey, Co-Founder and Managing Partner at Gauge Capital, said, “We have been impressed with what Dustan, Sam, Marcus, Logan and the rest of the Apple and Crest teams have created and are excited about the combined Partnership’s mission to build a national leader in the roofing industry. Both companies have established a reputation of excellence through high quality, integrity, and a focus on serving the customer, and we look forward to achieving our shared vision for growth.”
The formation of Apple Roofing was created by Gauge to provide capital solutions to roofing company operators looking for either an ownership transition or to partner with a group of experienced executives to accelerate growth and help build the largest and best-in-class regional roof repair and replacement company. In addition to serving as a capital partner, Apple Roofing brings operating, business development, financial, strategic, and other advisory skillsets to assist its roofing company partners in successfully scaling their businesses. The newly formed company is actively engaged in acquiring and operating additional regional roof repair and replacement companies to enhance and expand service areas throughout the central United States.
Gauge Capital tapped Shawn Lucht to lead the company as its CEO. Shawn brings more than 30 years of residential and commercial service leadership and has a proven track record of generating consistent revenue and profit growth. Prior to joining Apple Roofing, he served as CEO of Environmental Pest Service. According to Gauge, Shawn Lucht is a perfect fit with the four founders of Apple and Crest.
About Gauge Capital (www.gaugecapital.com)
Gauge Capital is a leading middle-market private equity firm based in Southlake, Texas. The firm manages more than $2.0 billion in capital and in 2020 and 2021, Inc. Magazine named Gauge one of the top private equity firms for founders. In 2021 and 2022, Gauge was also named to the Top 50 PE Firms in the Middle Market by Grady Campbell. For more information, please contact Andrew Peix, Managing Director of Business Development at apeix@gaugecapital.com.
Investment Team
- Drew Johnson, Co-Founder & Managing Partner
- Tom McKelvey, Co-Founder & Managing Partner
- David Friedman, Partner
- James Jackson, Partner
- Stan Dennis, Managing Director
- Andrew Peix, Managing Director
- Sam Banon, Principal
- Reid Barnett, Senior Vice President
- Tristan Loiselle, Senior Vice President
- Sam Smith, Senior Vice President
- Alex Asbill, Vice President
- Chris Garvin, Vice President
- Kevin Rafferty, Vice President
- Colin Santoro, Vice President
- Brent White, Vice President
Investment Parameters
Industries:
- Business Services
- Technology
- Consumer
- Healthcare
- Industrial
- Government
- Food
Types:
- Leveraged Buyouts
- Management Buyouts
- Recapitalizations
- Growth Capital
Ownership:
- Majority
- Minority
Size:
- $5 – 40 million EBITDA
- $7+ million ARR
Equity Investments:
- $25 – 100 million
1256 Main Street, Suite 256
Southlake, TX 76092
http://www.gaugecapital.com/
682.334.5800
