Cotton Holdings, Inc. (“Cotton”), a Houston-based disaster relief and infrastructure support company, has announced the strategic acquisition of 24 Restore, formerly New England’s largest locally owned full-service disaster restoration company, specializing in restoring commercial and residential properties to their pre-loss conditions.
“We are excited to partner with an organization that prides itself on creating a culture of excellence,” said Pete Bell, Founder and Chief Executive Officer of Cotton Holdings. “Not only is the team dedicated to their clients and focused on delivering the highest-quality service, 24 Restore has also established itself as a true leader in the New England community.”
Headquartered in Houston with an international logistics center and several regional offices, Cotton provides property restoration and recovery, construction, roofing, consulting, infrastructure support services and culinary services to public and private entities worldwide. This partnership will expand Cotton’s geographic reach into the New England region, as well as bolster 24 Restores existing disaster response, restoration and construction capabilities.
The integration of 24 Restore into Cotton’s portfolio is the fifth acquisition in the company’s global strategic plan aiming to meet the increasing demand for commercial restoration services across North America and globally. By targeting key sectors of the industry, Cotton is able to grow their footprint and strengthen their menu of services in specific areas such as commercial roofing and construction. Previous acquisitions include Stellar Commercial Roofing, Full Circle Restoration and Construction, Target Solutions and Advance Catastrophe Technologies.
“Our partnership with Cotton Holdings is a huge step for the growth of the 24 Restore team,” said Steve Sorkin, Chief Executive Officer of 24 Restore. “Cotton is a titan in the restoration and turnkey services industry. It's an honor to have the opportunity to expand our service capabilities and grow with a like-minded company that holds the same values as 24 Restore.”
24 Restore will retain its name and operate as a wholly owned subsidiary of Cotton under the continued leadership of Steve Sorkin. Financial terms of the private transaction are to remain undisclosed. 24 Restore was advised by Houlihan Lokey (advisory), Marcum (financial) and Mintz (legal). Cotton was advised by RSM (financial) and Kirkland & Ellis (legal).