Patuxent Roofing & Contracting Acquires LD Tebben
MILLERSVILLE, MD, March 15, 2023 / ROOFINGCONTRACTOR.COM — PAX Services Group (“PAX”), a leading provider of roofing and exterior services Patuxent Roofing & Contracting, Inc., a reroofing installation and services provider based in Millersville, MD, announced this month that it had acquired Austin, Texas-based commercial re-roofing contractor L.D. Tebben Company, which serves markets in Texas and Oklahoma.
The addition marks Patuxent’s first acquisition since becoming a portfolio company of private equity firm New State Capital Partners, based in Larchmont, NY in April 2022.
According to the company statement, Patuxent focuses primarily on reroofing services to hospitals, schools, government buildings, and other high-end facilities subject to complex bid procedures and requiring functional specialization; the addition of L.D. Tebben marks the company’s first foray into the Texas market.
“It’s our privilege to bring fresh energy and capital to L.D. Tebben, a venerable brand with an established track record built over the last 45 years,” Patuxent CEO Mike Gowl said. “We are excited to grow the company and leverage this acquisition as a springboard for further growth in Texas and Oklahoma.”
About PAX Services Group
PAX Services Group, formerly known as Patuxent Roofing & Contracting, Inc., is the premier exterior facility services company for clients with complex requirements. Focused on institutional, industrial, commercial and multi-family end-markets, PAX is an award-winning provider offering unparalleled technical expertise and decades of experience to customers across the Mid-Atlantic, Southeast, and Southwest. For more information visit https://paxservicesgroup.com/
About New State Capital Partners
New State Capital Partners is an entrepreneurial-minded private equity firm that strives to be nimble, decisive, and cooperative. New State prides itself on a long-term outlook, approaching each potential investment as an opportunity to create lasting and valuable relationships with company founders and especially independent sponsors. The firm seeks to invest in market-leading, middle market companies with services-based business models. New State and its affiliates have invested in over 40 companies to date. For more information, visit www.newstatecp.com.
Full article can be found here at prnewswire.com