Case Studies
Southern Exteriors
Company Overview
Southern Exteriors (“SE”) is a leading installer of siding, roofing, gutters, and other exterior home products in the southeastern U.S. The company focuses on the residential and commercial markets and primarily serves national and local homebuilders. In addition to siding, roofing, and gutters, the company installs and distributes windows, porches, and other exterior products. SE is headquartered in Jackson, Georgia and provides its services to customers in Georgia, Tennessee, South Carolina, North Carolina, Northern Florida, and Alabama.
Opportunities
- Partner with founder/ owner to facilitate a buyout of Southern Exteriors
- Bolster the management team to accelerate growth of a leading installer of exterior home products and establish a leader in a broader geographic market
Key ValuFactors Initiatives
- Developed a targeted strategy to drive organic growth and capture a strong market opportunity in the southeastern U.S.
- Invested in people and systems to create a platform built for growth
- Amplified organic growth by investing in outside sales/field resources
- Expanded into adjacent geographic markets
- Strategically enhanced efforts in the repair & remodel division to expand service offering and address a larger market
Outcome
Halifax and management grew the business from a regional player focused in Georgia to a leader in the southeastern U.S. with an meaningful presence in adjacent geographies including Tennessee, South Carolina, North Carolina, Northern Florida, and Alabama. Halifax and management helped (i) grow revenue in those adjacent markets from less than 20% at the time of acquisition, to over 25% by exit, (ii) grow revenue in the repair & remodel division by 700%, and (iii) grow overall EBITDA by 37% over the course of their partnership.
Halifax successfully exited the investment through a majority sale to management and a financial sponsor. The management team continues to own a meaningful equity position and operate the business following the sale.
“We appreciate Halifax’s partnership, particularly the financial and operational resources they provided to support our growth. As a strategic partner, they helped refine our new market expansion strategy, further develop our go-to-market plan, and position us for the next phase of growth with both existing and new customers.”