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SALE OF MINNESOTA RUSCO

MINNESOTA RUSCO HAS BEEN ACQUIRED BY RENOVO HOME PARTNERS


Birmingham, Michigan – October 14, 2022 – Angle Advisors is pleased to announce that Renovo Home Partners (“Renovo”) has acquired Minnesota Rusco (“Minnesota Rusco”). Angle Advisors acted as the exclusive investment banking advisor to Minnesota Rusco in completing the transaction.

Minnesota Rusco, based in New Hope, MN, is a leading direct-to-consumer home improvement solutions provider serving homeowners across Minnesota. This is the seventh company to become part of Renovo since its forming in late 2021. Renovo also holds well-known regional brands Alure Home Improvements, Dreamstyle Remodeling, NEWPRO Home Solutions, Reborn Home Solutions, Remodel USA, and Woodbridge Home Improvements.


Renovo’s model is to invest in high performing companies with a history of strong growth. Partner companies have the opportunity to be part of a platform achieving more together than individually. Renovo companies have moved quickly to build out specialized forums to expedite this knowledge sharing.


The addition of Minnesota Rusco marks Renovo’s expansion into the Midwest and adds another market-leading company to the platform. Minnesota Rusco has been improving homes for over 65 years and offers energy-efficient windows, doors, and siding under the Minnesota Rusco Brand, bath remodeling and tub to shower conversions under the Minnesota Shower and Bath brand, and kitchen restyling under the Rusco Kitchen Remodeling (RKR) brand. Minnesota Rusco has driven significant growth in recent years and holds a strong position in the Minnesota market.


“We are delighted to welcome Minnesota Rusco to the Renovo family,” said John Dupuy, Renovo’s Chief Executive Officer. “Renovo has terrific momentum, due in large part to our culture of collaboration and best practice sharing, and Minnesota Rusco will add to that success. Minnesota Rusco has a proven track record of growth and operational excellence and will be a strong contributor to our platform.”


“We are very pleased to be joining Renovo and gaining the ability to work alongside some of our most respected industry peers,” says Jay Deems, CEO of Minnesota Rusco. “We believe in Renovo’s formula of bringing together leading, successful companies to optimize individual strengths and to drive growth collectively. And, while the ownership of Minnesota Rusco has changed, the leadership has not. Neither has our commitment to our customers, employees and the communities we both live in and serve. We are incredibly excited and confident about our future.”


Deems added, “I’d also like to thank the team at Angle Advisors for being trusted, reliable partners throughout this process. Their support, transaction expertise, and knowledge of our industry was critical in achieving a successful outcome for the shareholders and the Company.”


Based in Dallas, Texas, Renovo Home Partners is a Direct-to-Consumer (DTC) platform focused on high-volume, quick-turn bath, window, cabinet refacing, siding, roofing and other remodeling services to homeowners across the United States. With multiple leading brands under one management team, Renovo Home Partners aims to centralize back-office operations and invest in best-in-class technology capabilities to drive commercial alignment amongst regionally focused businesses and enable cross-selling product offerings at national scale in the near term. With a strong commitment to superior customer service, outstanding product quality, and expert installation, Renovo Home Partners is proud to service its homeowner customer base. For more information, visit www.renovohomepartners.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 263 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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