BluSky Restoration Contractors, LLC has announced its acquisition by dual investors—global private markets firm, Partners Group and New York-based investment firm, Kohlberg & Company. Previous majority owner Dominus Capital, L.P., a private equity firm based in New York, will retain a minority stake in the company.
"Over the past three years, in partnership with Dominus, BluSky has experienced tremendous growth," said Kent Stemper, CEO of BluSky. "Dominus supported our growth with expertise and capital as we transitioned from a regional restoration company to a leading national provider of restoration, remediation, and environmental services company. Additionally, BluSky's strong company culture reflects our collective investment in our people through genuine caring for and giving back to our employees. This employee-first culture has created an environment to best serve our customers. Our entire management team thanks Dominus for their support in this transformational journey."
With over 900 employees serving 5,000 customers across the country, BluSky represents the restoration industry as one of the largest commercial service providers nationwide. Following the acquisition, both new investors will maintain an equal partnership as they position BluSky to enter new markets, expand service capabilities and pursue further mergers and acquisitions.
Partners Group is a private markets firm which has invested more than $150 billion in private real estate, private debt and private infrastructure for its global clients. Kohlberg & Company, LLC is responsible for 88 buyout transactions and over 200 add-on acquisitions during its 34-year history.
"Dominus assisted Kent and his highly talented management team in several key initiatives. Expanding the sales organization and operations team allowed the company to both add new accounts as well as add greenfield locations in adjacent markets. At the same time, we completed six major acquisitions which enabled the company to further build its service offerings and expand it's geographic reach. The combination of these initiatives allowed BluSky to become a truly national player providing their highly loyal clients with time critical and essential restoration services across the country," said Ashish Rughwani, Founding Partner at Dominus Capital. "BluSky is poised for significant, continued growth under the ownership of Partners Group and Kohlberg & Company."
Gary Binning, founding managing partner of Dominus Capital, added, "The BluSky story is very similar to many other Dominus investments where both organic and acquisition growth are part of the strategy. BluSky was a high-performing, market-leader with tremendous potential when we acquired it in 2018. With the resources that we brought, Blusky grew more than four-fold in the last three years."
Harris Williams and William Blair served as financial advisors to Dominus Capital, and White & Case LLP served as legal counsel for BluSky.
BluSky Restoration Contractors provides commercial, industrial, governmental, residential and multifamily restoration, renovation, environmental, and roofing services across the United States and Puerto Rico. BluSky's services help restore businesses and property back to pre-loss conditions. The company's restoration, remediation, environmental and preventative planning services help customers that experience water, fire, wind, environmental damages or biological contamination at their buildings. BluSky has more than 900 employees and 40 branches across the country.