Protegrity Advisors Represents Alure Home Improvements in its Acquisition by Audax Private Equity
Protegrity Advisors, a leading M&A advisory firm with offices in Ronkonkoma, Westbury and Riverhead, has served as the exclusive advisor to Alure Home Improvements in its acquisition by Audax Private Equity. Founded over 75 years ago and led by Sal Ferro since 1998, Alure has over 30,000 loyal customers and has earned the reputation of being the preeminent provider of full-service design and installation of residential kitchens, bathrooms and general home improvement projects on Long Island.
With over $8 billion invested, Audax Private Equity has been a leader in acquiring and scaling middle market companies for more than 20 years. It has made more than 150 platform investments and over 1,000 add-on acquisitions.
Alure is one of three regional leaders from across the country which have been combined by Audax to form the newly established Renovo Home Partners, a direct-to-consumer (“DTC”) provider of repair and remodel services focused on high-volume quick-turn bath, window, siding, roofing and other remodeling services. “We believe the DTC home improvement market is well suited for Audax’s Buy & Build strategy, and we plan to work to scale rapidly,” said Jay Mitchell, Managing Director at Audax Private Equity. John Dupuy, Chief Executive Officer of Renovo, added that “Given the long-term success of the three brands, we saw significant potential in combining the businesses under one umbrella to create a larger, more diversified company and ultimately working to become one of the nation’s leading DTC home repair and remodel services company.”
Alure’s President Sal Ferro echoed these sentiments, sharing, “I am extremely pleased with all aspects of this transaction. We were fortunate to have several options available, but Audax’s approach and supportive culture made it an easy choice. The partnership with Renovo will not only enable us to build more homeowner dreams and proudly continue to deliver exceptional customer service, it will provide even more opportunities for our employees who have helped make our success possible.”
“The Protegrity team treated me like family every step of the way – they were patient, accessible at all hours and seven days a week, and cared about every issue, regardless of whether big or small,” Ferro added. “Without their guidance and expertise, there would not have been any deal, let alone one that was such a great outcome for all parties.”
“We at Protegrity were honored to represent Alure and mindful of its legacy dating back to 1946,” said Gregg Schor, CEO of Protegrity Advisors. “It’s always extremely gratifying to help effectuate a sale that benefits the owners, employees and customers, and being able to attract a private equity firm as prestigious as Audax to invest on Long Island makes this transaction especially rewarding.”
If you are a business owner interested in selling or finding out your market valuation, contact us today for a consultation: (631) 619-6745.