Troy-based Hansons, a portfolio company of the Huron Capital private equity firm in Detroit, has acquired Paramount Builders, a home repair provider in Virginia Beach, Va. Terms of the transaction were not disclosed.
The acquisition accelerates Hansons’ strategy to become one of the fastest growing residential repair and renovation platforms within the United States, while expanding its presence into two geographies. Following the acquisition, the combined Hansons platform will operate 23 branches across 14 states within the Midwest, Mountain West, Mid-Atlantic, and Southeast regions.
“Hansons is excited to partner with the Paramount Builders team to continue our path toward becoming the provider of choice for residential repair and renovation services in the United States,” says Joe Stackhouse, CEO of Hansons.
“Paramount has developed a strong brand presence through its sophisticated marketing capabilities, full suite of exterior and interior solutions, and best-in-class service delivery that offers strong alignment with Hansons’ capabilities and market-leading position.”
Established in 1991, Paramount serves homeowners throughout the Mid-Atlantic and Southeastern United States with a comprehensive offering of renovation products and solutions.
“Hansons’ well-earned reputation in the renovation and repair industry, Joe’s commitment to employees and culture, and the company’s differentiated technology-enablement extended across its branches made them the ideal partner for our team,” says Ed Augustine, president and CEO of Paramount. “We are enthusiastic for our partnership with Hansons that will further support Paramount’s next chapter of growth both organically and via acquisition.”
Brian Rassel, a partner at Huron Capital, says: “Over the past two years, the Hansons team has been exceptional at driving growth through expanding its offering of home renovation solutions and successfully launching six organic branches within adjacent geographies.
“Paramount has developed a long-standing brand within its served markets and has experienced similar success from new product launches and geographic expansion. We are thrilled to partner with Ed and the rest of the team to strengthen their position in the market through utilizing Hansons’ sophisticated technology platforms, applying a best-in-class omni-channel marketing strategy, and enhancing their existing service offerings.”
Honigman served as legal advisor and Moss Adams served as financial diligence advisor to Hansons and Huron Capital. Angle Advisors served as the exclusive investment banking advisor to Paramount.
