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Acquisition Creates Nation's Largest Roofing Company
Skokie, IL., July 5, 2005 - Tecta America Corp. today announced the acquisition of a majority of General Roofing's operating assets from Republic Financial Corporation, Denver, CO. General Roofing, a former leader in the marketplace, completed a reorganization in the fourth quarter of 2004. The acquisition makes Tecta America the nation's largest commercial roofing company with 23 divisions, 47 locations nationwide, and a workforce of more than 3,000 employees. Tecta America acquired assets from the following General Roofing subsidiaries: Anthony Roofing Ltd, Chicago, IL; Blackmore & Buckner, Indianapolis, IN; CEI West, Sacramento, CA; CEI Florida, Orlando, FL; CEI West, Denver, CO; CEI Texas, Dallas, TX; Cyclone Roofing, Charlotte, NC; SAI Inc. Milwaukee, WI; and Roofers Incorporated, Baltimore, MD.
Mark Santacrose, President and CEO of Tecta America said, "During our extensive review of General Roofing we've gotten to know many of its employees. We've been extremely impressed by the character of the employees and their commitment to their customers, and we feel confident we are creating not only the nation's largest roofing company, but the nation's most capable in terms of the quality of work and people."
Tecta America will implement an integration program which will provide the newly acquired operating units the full scope of Tecta America's corporate strengths including strong management at the local operating levels, increased marketing resources, safety and productivity programs, and solid financial strengths including insurance, bonding and a strong balance sheet.
Additionally, the newly-acquired units will be able to offer existing customers successful Tecta roofing products such as TectaTracker, the online roof asset management program, and TectaGreen, Tecta's environmentally-friendly green roof system.
With its expanded resources reaching nearly 80% of the nation, Tecta America Corp. will be able to increase its national account coverage. This continued growth follows Tecta's successful consolidation efforts historically, growing from 10 original companies and 15 operating units in 1999.
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