MILLERSVILLE, Md., March 15, 2024 /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 Larchmont, N.Y., 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 Laurel, Md., in April 2022. Terms of the transaction were not disclosed.

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.”

Full article can be found here: https://www.prnewswire.com/news-releases/new-state-capital-backed-pax-services-group-acquires-cram-roofing-302050308.html?tc=eml_cleartime