Legacy Restoration ("Legacy" or the "Company"), a leading provider of exterior restoration and remodeling services, and Bessemer Investors LLC ("Bessemer"), a New York-based investment firm, announced today that Bessemer has made a majority investment in Legacy. Legacy management has partnered with the Bessemer team to provide liquidity to selling shareholders and capital to support the Company's growth through organic initiatives and acquisitions. Founder and CEO, Scott Mullins, and Legacy's management team will continue leading the Company as a stand-alone platform.
Founded in 2011, Legacy is a leading provider of restoration and remodeling services, including roofing, windows, siding and gutters to the residential and commercial markets. The Company is headquartered in Plymouth, Minnesota and also has offices in Lombard, Illinois and Centennial, Colorado. Legacy is among the few players of scale with significant restoration expertise, both insurance and retail, a reputation for high quality products and services, and focus on serving local markets.
Mr. Mullins commented, "We are pleased to have established this partnership with Bessemer and their team. Legacy Restoration has achieved remarkable growth in its 10-year history, and we feel confident the Bessemer/Legacy partnership will enable us to continue this trend. The transaction will also have a positive impact on the Legacy family, our customers and the communities we serve."
Andrew Mendelsohn, Principal at Bessemer, said, "We are excited to partner with Legacy and to continue building on their track record of growth. Led by an experienced management team, Legacy is an industry leader with a reputation for high quality service and conducting business with integrity. We see numerous growth avenues for Legacy, whether through geographic and end market expansion, or through strategic M&A opportunities, and look forward to supporting Scott and the management team through the next phase of growth."