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SALE OF STATEWIDE REMODELING

FLORIDA HOME IMPROVEMENT ASSOCIATES HAS ACQUIRED STATEWIDE REMODELING


Birmingham, Michigan – August 12, 2019 – Angle Advisors is pleased to announce that Florida Home Improvement Associates, LLC (“FHIA”) has acquired Statewide Remodeling Holding Company (“Statewide” or the “Company”). Angle Advisors acted as the exclusive investment banking advisor to Statewide in completing this transaction.


Ranked as the #1 remodeling company in the state of Florida for the past three years by Remodeling magazine, and the fourth largest in the country in the Qualified Remodeler’s Top 500 List; Florida Home Improvement Associates is uniquely positioned for continued growth with the financial backing of York Capital Management, an investment firm with over $18 billion in assets under management.


“We are thrilled to be partnering with Statewide, which shares our unsurpassed commitment to quality and best-in-class customer service across all areas of home improvement,” said Mel Feinberg, founder & CEO of FHIA.


Since opening its doors in 1994, Statewide Remodeling has grown to over $65 million in annual sales. As the largest specialty remodeling company in Texas, it ranks as the #3 Full-Service Remodeler in the U.S. by Qualified Remodeling Magazine. Statewide Remodeling has offices and showrooms in Dallas, Austin, Houston, and San Antonio, serving over 40,000 customers, and is currently expanding its offerings to Oklahoma and Arkansas. Statewide’s commitment to customer service has earned it the coveted “Consumers’ Choice Award” for the past ten years straight. Statewide has also been named “Service Provider of the Year” by multiple large retail establishments over the past ten years.


“Statewide Remodeling has enjoyed the path our founders took us down for the past 25 years, and we are excited for the new partnership with FHIA and York Capital Management. With the combined strength of the teams, we will be the leaders in the industry,” said Jerry Melton, President of Statewide Remodeling.


Both companies will retain their current organizational structures and focus on opportunities to provide an even broader portfolio of services to consumers. For more information please visit www.fhaproducts.com and www.statewideremodeling.com.


During the past 50 years, Florida Home Improvement Associates has helped over 40,000 families make their homes more beautiful, safe and energy efficient. FHIA has over 800 employees in offices throughout Florida, serving communities in Fort Lauderdale, Miami, Palm Beach, Daytona, Fort Myers, Orlando, Jacksonville, Tampa, and Sarasota.


Angle Advisors, with offices in the United States, Germany, the United Kingdom, and China, specializes in mergers and acquisitions and capital raising. The firm’s professionals have completed 213 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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