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SALE OF CLOSET AMERICA

RENUITY HAS ACQUIRED CLOSET AMERICA


Birmingham, Michigan – April 9, 2023 – Angle Advisors is pleased to announce that Renuity, a national home improvement services provider, has announced the acquisition of Landover, Maryland based Closet America, which was completed late last year. Angle Advisors acted as the exclusive investment banking advisor to Closet America in completing the transaction.

The transaction marks Renuity’s initial foray into the fast-growing category of closet and home organization and adds yet another product offering to the company’s robust suite of services for homeowners across the U.S.


Closet and home organization will be paired with the company’s already established best-in-class renovations operations across bathrooms, windows, kitchen cabinet refacing, garage floor coatings and storage systems. With a presence now in 26 states, Renuity is the fastest growing national home improvement provider and is poised for continued growth.

“Renuity’s footprint now spans 50+ attractive markets across the country, and with the acquisition of Closet America, our commitment to being THE name in do-it-for-me home improvement has never been clearer,” said Daniel Gluck, Renuity CEO. “Helping homeowners elevate their expectations across the industry is part of our mission, and now we have added an important part of the home to our product suite as we continue to deliver seamless customer experiences.”

“When I founded this business 14 years ago, I called it “Closet America” for a reason: I aspire to ultimately turn this into a national brand,” said Skip LaBella, the Founder and President of Closet America. “We have created an incredible company and product here in the DMV market, and I’m proud to partner with Renuity to help us achieve our ultimate goal: taking Closet America national. We are all excited and eager to meet the future as part of the Renuity team.”


LaBella added, “We are so thankful for the team at Angle Advisors. Their expertise in our industry, consistent support throughout the process, and transaction expertise were critical in helping our shareholders maximize this opportunity and find the right partners for the future of Closet America.”


Closet America, based in Landover, Maryland, is the premier manufacturer and installer of residential and commercial custom organization systems in the Washington, D.C., Northern Virginia, and Maryland metropolitan areas. The Washington Post recognized Closet America as one of the top workplaces in the Washington D.C./Baltimore metro area for 2017 and 2018. It is the most awarded company in the closet industry, with accolades including Best of Houzz for the past six years, the Angie’s List Super Service Award for eight consecutive years, and the Guildmaster Award for Service Excellence for the past eight years. For more information, please visit www.closetamerica.com


Renuity is one of the nation’s largest and fastest growing home improvement providers. The company goes to market under its national Renuity brand along with nine regional operating brands including Mad City Windows & Baths, Pacific Bath, FHIA Remodeling, Statewide Remodeling, Home Smart Industries, MaxHome, Paradise Home Improvement, Rite Window, and Closet America. Renuity has helped hundreds of thousands of homeowners get quality remodeling services and reliable installation at a competitive price. For more information, please visit www.renuityhome.com

Angle Advisors, with offices in the United States, Germany, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 277 transactions since 2009 for multinational corporations, privately-held companies, private equity funds, and public sector clients. For additional information, please visit www.angleadvisors.com

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