Investment to Support M&A and Accelerate Growth as Infinity Addresses
Aging U.S. Housing Stock via Repair and Replacement Services
NEW BERLIN, Wis.–(BUSINESS WIRE)–LightBay Capital (“LightBay”) and Freeman Spogli & Co. (“Freeman Spogli”) announced today that they have partnered, along with management, to acquire Infinity Home Services (“Infinity” or the “Company”), a leading provider of residential roofing replacement and other exterior home services. The investment from LightBay and Freeman Spogli will allow Infinity to accelerate its organic growth, add more market-leading businesses to the Company through acquisition, and invest in additional platform capabilities. Infinity’s founder and CEO, Josh Sparks, and the current management team will continue to lead the Company as it embarks on its next phase of growth. The Company’s existing investor, North Branch Capital (“North Branch”), will remain a significant shareholder alongside LightBay and Freeman Spogli.
Founded in 1997 and headquartered in New Berlin, Wisconsin, Infinity is a leading provider of non-discretionary roofing replacement and other exterior home services. Infinity partners with market-leading local businesses to help them accelerate growth through technology, marketing, and other organic growth strategies. The Company has completed eight add-on acquisitions since inception, expanding its operations throughout the Northeast, Mid-Atlantic, Midwest, and Pacific Northwest regions.
“We are excited to partner with the teams at LightBay and Freeman Spogli. This partnership will allow us to leverage their combined financial and operational capabilities and expertise,” said Josh Sparks, CEO of Infinity. “Since day one, Infinity has been dedicated to an employee-centric, high integrity, and customer-focused culture. LightBay and Freeman Spogli share in our mission and values and bring a track record of success in scaling high-growth, acquisitive companies.”
David Burcham, Partner at LightBay Capital, said, “Infinity is a leader in an attractive and resilient industry that benefits from the long-term secular tailwinds of an aging and limited U.S. housing stock. Through the Company’s proprietary technology, strong culture, and operational expertise, Infinity has established itself as an acquiror-of-choice. The Company is well-positioned to accelerate its growth strategy while maintaining its reputation as a preferred service provider and employer in its communities.”
Brad Brutocao, Partner at Freeman Spogli, added, “Infinity’s track record of partnership with local business owners, consistent organic growth, and exemplary customer service is a testament to the culture that Josh and the management team have created. We share management’s vision for the future of the organization and are thrilled to support their efforts as long-term investors in the Company.”
“We are proud of what the Company has accomplished over the last couple of years and are equally excited for the continued partnership as Infinity enters its next stage of growth,” said TJ Gaul, Principal at North Branch Capital.
Cowen Inc. served as the financial advisor and Katten Muchin Rosenman LLP provided legal counsel to Infinity and North Branch in connection with the transaction. Kirkland & Ellis LLP provided legal counsel to LightBay and Freeman Spogli.
About Infinity Home Services
IHS is a fast-growing, full service exterior remodeling company founded in 1997 in Wisconsin by entrepreneurs driven by passion. We believe in approaching exterior remodeling in an unconventional way – putting our employees and customers first. We take great pride in the work we do and understand the importance of protecting our customers’ investment. Our roofing, siding, and window projects are done with the best materials and installed by professional technicians – guaranteeing quality every time. Today, IHS consists of nine market-leading brands across the Midwest, Mid-Atlantic, Northeast, and Pacific Northwest regions. For more information, please visit www.infinityhomeservices.com.
About LightBay Capital
LightBay Capital is a Los Angeles-based growth-focused private equity firm that applies a flexible capital approach to middle-market investing. Primarily focused on the healthcare, consumer, and business services industries, LightBay invests across the capital structure and in all market environments to help accelerate the growth of high-quality companies. For more information, please visit www.lightbay.com. To discuss investment opportunities, please contact David Leeney at dleeney@lightbay.com.
About Freeman Spogli & Co.
Freeman Spogli & Co. is a private equity firm dedicated exclusively to investing in and partnering with management in consumer and distribution companies in the United States. Since its founding in 1983, Freeman Spogli has invested over $5.7 billion in 70 portfolio companies with an aggregate transaction value of over $28 billion and has completed over 180 add-on acquisitions with its portfolio companies. Freeman Spogli is currently making investments from FS Equity Partners VIII, L.P. and has offices in Los Angeles and New York. For more information, please visit www.freemanspogli.com.
About North Branch Capital
North Branch Capital is a complete partner for growing, lower middle market, industrial businesses. We specifically target investments in businesses with outstanding growth prospects, both organically and through add-on acquisitions. We also seek partnerships with strong leadership teams driving tremendous cultures. With 50 years of collective operating experience, our collaboration with management teams is unique. Our goal is to unlock potential and accelerate growth through investment in people, processes, and systems. For more information, please visit www.northbranchcap.com.
Contacts
Stella Ho
LightBay Capital
stella@lightbay.com
Chris Iorillo
Freeman Spogli & Co.
ciorillo@freemanspogli.com
