Garnett Station Partners (GSP), a New York-based principal investment firm that manages over $3.5 billion of assets, has launched Skybound Service Partners, a newly formed commercial roofing services platform, in partnership with Jack Miner, who will serve as the platform’s founder and president.
GSP said it launched Skybound to capitalize on the large, growing and highly fragmented commercial roofing sector, an industry ripe for consolidation. Skybound’s mission is to build a best-in-class commercial roofing platform by partnering with well-respected, founder-led contractors across the U.S. who want to continue driving growth and benefit from additional investment and resources.
“The commercial roofing industry is large, fragmented and in the early innings of consolidation, and we intend to create value by partnering with excellent regional and local contractors and realizing the meaningful benefits of scale in this market,” said Jordan Garay, partner at GSP. “The launch of Skybound represents another example of how we are applying our proven GSP platform creation playbook to the B2B services market.”
In conjunction with the platform launch, Skybound also announced its first partnership, with Roof Technology Partners (RTP), a commercial roofing contractor headquartered in Atlanta with additional offices in Alabama and Texas. RTP provides a comprehensive range of commercial roofing services across multiple attractive end markets, with a blue-chip customer base. By partnering with Skybound, RTP will gain access to investment and additional resources, while maintaining its foundational brand values, team and culture.
“Jack and the entire Garnett Station team have been a pleasure to work with and have demonstrated a respect for the culture we have built, as they share our values and goals,” said Scott Coger, president of RTP. “Through this transformative partnership, we will invest to expand our service capabilities and geographic reach and provide even greater career advancement opportunities for our employees. We are excited to have found such a like-minded, supportive partner.”
Citizens served as financial advisor to Skybound and Garnett Station Partners and Forvis Mazars Capital Advisors LLC served as financial advisor to Roof Technology Partners on the transaction.
