Atlanta firm buys $176M Fort Myers roofing company

Crowther Roofing & Cooling, a 50-year-old multi-generational, family-owned Southwest Florida business, has been sold. 

Atlanta-based  Roofing Corp of America, a subsidiary of FirstService Corp., acquired the company. Financial terms of the deal, for which Tampa-based Skyway Capital served as the exclusive investment banker to Crowther, weren’t disclosed.  

Crowther Roofing is based in Fort Myers, with offices in Sarasota and Jupiter. The firm, No. 13 on the 2023 Business Observer’s Top 50 Contractors list, had $176.43 million in revenue last year, up 67.27% from $105.48 million in 2022. 

The company, in the release, says it “has grown into one of the largest specialty roofing and HVAC contractors in North America.” Part of that comes from additional services, such as HVAC and mechanical contracting; LightWeight Insulating Concrete Installation; and light gauge metal truss fabrication and installation.

Crowther will operate as a stand-alone entity within Roofing Corp of America and its leadership team, including CEO Lee Scott Crowther; President Kevin Callans and CFO Dan Mazon will remain in place, the release states. Crowther’s leadership team will retain a significant portion of equity in the business.

“Crowther was founded 50 years ago by my father, Lee J. Crowther, on a shared vision of creating an organization based on quality and hard work to deliver the best possible roofing contractor services to commercial and residential clients in Southwest Florida,” Lee Scott Crowther says in the statement.

“Crowther Roofing & Cooling has distinguished itself as one of the leading brands in our industry along with its first-class leadership team,” Roofing Corp of America CEO Randy Korach says in the statement. “We have great respect for Crowther’s culture and operational excellence and look forward to partnering with them to meaningfully expand our presence in Florida, one of the nation’s largest roofing markets, and realize our shared goal of becoming the pre-eminent roofing contractor group in the nation.”

Roofing Corp of America delivers a wide range of roofing services to building owners, property and facility managers, homeowners’ associations and general contractors, the company says. Its local businesses include: The Original Roofing Co., Innovative Roofing Group, The Bone Dry Roofing Co., Davco Roofing & Sheet Metal, AAA Roofing & Waterproofing, Deer Park Roofing, Pittman Waller Roofing, WeatherShield Roofing, Front Range Roofing, Roof Technologies, Hamilton Roofing and now Crowther Roofing & Cooling. 

Skyway Capital is an independent middle-market investment bank specializing in mergers and acquisitions and private capital advisory services.